Loan Recovery Dispute May Fall Under Commercial Courts Act Despite Absence of Written Contract: Calcutta High Court

The Calcutta High Court has refused to reject a plaint filed by Divij Mercantiles Private Limited against Ashoka Hawai and Shoes Pvt Ltd over recovery of money advanced to the defendant. The defendant argued that the case was not a commercial suit under the Commercial Courts Act, 2015 and was also barred by the Bengal Money-Lenders Act, 1940. The Court found that the nature of the financial transaction could not…