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Micro, Small And Medium Enterprises

The Micro, Small and Medium enterprises (MSMEs) have been accepted as the engine of economic growth and for promoting equitable development in all over the world. Let there be any category of country (Developed, Developing and Under Developed), the existence of MSMEs is inevitable. The major advantage of the sector is its pivotal role through its contribution in Industrial output, Exports, and majorly in Employment generation at low capital cost.

The labour intensity of the MSME sector is much higher than that of the large enterprises. The MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports.

Who All Can Be Part Of Msme?

Manufacturing Sector

Sr. No. Enterprise Investment in P & M
1 Micro ↓ 25 Lakhs
2 Small ↓ 5 Crores
3 Medium ↓ 10 Crores

 

Service Sector

Sr. No. Enterprise Investment in Equipment
1 Micro ↓ 10 Lakhs
2 Small ↓ 2 Crores
3 Medium ↓ 5 Crores

MSME Deleing With Delayed Payment

Important Sections

The MSME Act, 2006 contains provisions of Delayed Payment to Micro and Small Enterprise (MSEs) (Section 15- 24). State Governments to established Micro and Small Enterprise Facilitation Council (MSEFC) for settlement of disputes on getting references/filing on Delayed payments. (Section 20 and 21)

Who Can Apply?

Above mentioned Enterprise having valid Udyog No.

Salient Feature

  • 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 within 45 days of the acceptance of the goods/service rendered. (Section 16)
     
  • State Governments to notify (i) Authority for filing Entrepreneur Memorandum (ii) Rules of MSEFC and (iii) Constitution of MSEFC.
     
  • All States/UTs have notified Authority for Filing Entrepreneur's Memorandum, 33 States/UTs (i.e. except Arunachal Pradesh, Assam and Manipur) have Notified rules of MSEFC and all the 36 States/UTs have constituted MSEFCs, as per provisions laid down under MSMED Act 2006.
     
  • Every reference made to MSEFC shall be decided within a period of ninety days from the date of making such a reference as per provisions laid in the Act.
     
  • If the Appellant (not being the supplier) wants to file an appeal, no application for setting aside any decree or award by the MSEFC shall be entertained by any court unless the appellant (not being supplier) has deposited with it, the 75% of the award amount. (Section 19)

Where We Can File A Case.

https://samadhaan.msme.gov.in/

The Office Of Msme Tribunal

Office of Joint Director of Industry,MMR, 702, 7th Floor, Vikas Center, Dr C. Gidwani Marg, Chembur East, Mumbai - 400074

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