Bill to ensure ease of doing contracts tabled in LS

NewDelhi Dec 22: The government in a move to further improve its ranking in ease of doing business has introduced a bill to amend the Specific Relief Act, 1963. The Specific Relief (Amendment) Bill, 2017 was introduced in Loksabha by the law minister on Friday.

The bill Aims to reduce the discretion of the courts in breach of contracts within two parties and to ensure that a party has right to award the works to be completed by a third party and also to seek damage, costs of construction from other parties.

The bill also proposes to grant powers to the court special experts in such contracts and courts can grant injunction after satisfying itself that it would not cause any impediment or delay in the progress or completion of the project.

Earlier the Specific Relief Act was enacted in 1963 and the law was not amended since inception. Experts said that this bill would reduce the litigations that arrive in enforcing contracts and the companies find it easy to do business in the country.

Earlier the World Bank in its report on Ease of Doing Business had pointed out that India remains poor in enforcing contracts and lot of reforms must be taken.