Advocates:
For the Appellants/Petitioners: Sri Vigneshwar S. Shastri
For the Respondents: Sri Dhananjay V. Joshi

Certainly. Based on the provided legal document, here are the key points summarized:

1. Pre-litigation Mediation Requirement: Section 12A of the Commercial Courts Act mandates that a commercial suit cannot be instituted unless the plaintiff exhausts pre-institution mediation, except when urgent interim relief is sought (!) (!) .

2. Substantial Compliance: If mediation has already taken place prior to the filing or transfer of the suit, the commercial court is not required to mandate fresh mediation. The court recognizes that substantial compliance with Section 12A occurs when mediation efforts are undertaken before the suit's registration or transfer (!) (!) .

3. Order of Suit Transfer and Filing: When a suit initially filed as a non-commercial suit is transferred to a commercial court after efforts at mediation, the requirement of re-mediation is waived if there has been prior substantial compliance (!) (!) .

4. Order of Rejection of plaint: A suit cannot be rejected solely on the grounds of non-compliance with Section 12A if there has been prior mediation and the suit is otherwise properly instituted and transferred (!) (!) (!) .

5. Court's Discretion and Justice: Courts have the discretion to keep a suit in abeyance and refer parties to mediation, especially where efforts at settlement have been ongoing and have failed, provided there is no prejudice to the parties (!) .

6. Rejection of Application under Order VII Rule 11: Applications seeking rejection of a plaint on the basis of non-compliance with Section 12A should be dismissed if there has been substantial prior mediation, and the suit is otherwise valid and properly transferred (!) .

7. Legal Effect of Mediation and Transfer: When mediation occurs before the registration or transfer of a suit and results in failure, the commercial court is justified in proceeding without requiring fresh mediation efforts. This is consistent with the principle that once substantial compliance is established, re-mediation is unnecessary (!) (!) .

8. Overall Legal Principle: The mandate of Section 12A is to promote settlement and avoid multiplicity of litigation. However, strict adherence to pre-institution mediation is not necessary if there has been prior genuine effort, especially when the suit has been transferred or re-filed in a different court after prior mediation attempts (!) (!) (!) .

9. Merits of the Petition: The petition challenging the order rejecting the application for rejection of plaint on the ground of non-compliance with Section 12A lacks merit when prior mediation efforts have been demonstrated, and the suit has been properly transferred or instituted (!) .

These points collectively emphasize that prior substantial compliance with Section 12A through genuine mediation efforts can fulfill the legal requirement, and courts are empowered to proceed with the suit without mandating fresh mediation upon transfer or re-institution, provided justice and procedural fairness are maintained.