We Guide, Facilitate and File online as well as offline Petitions for the Manufacturers/Service providers having Udyog Aadhar Number to the Delayed Payment councils of the respective districts under MSME Development Act 2006
What is the MSMED ACT, 2006?
The Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 contains provisions of Delayed Payment to Micro and Small Enterprise (MSEs). (Section 15- 24). State Governments to establish Micro and Small Enterprise Facilitation Council (MSEFC) for settlement of disputes on getting references/filing on Delayed payments. (Section 20 and 21)
Want to know more?
MSEFC of the State after examining the case filed by MSE unit will issue directions to the buyer unit for payment of due amount along with interest as per the provisions under the MSMED Act 2006Any Micro or small enterprise having valid Udyog Aadhar(UAM) can apply.
The buyer is liable to pay compound interest with the monthly rests to the supplier on the amount at the three times of the bank rate notified by RBI in case he does not make payment to the supplier for his supplies of goods or services within 45 days of the acceptance of the goods/service rendered. (Section 16)
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