Udyam Registration holders can use MSME Samadhaan to recover delayed payments - PowerPoint PPT Presentation

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Udyam Registration holders can use MSME Samadhaan to recover delayed payments

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Udyam Registration holders can use MSME Samadhaan to recover delayed payments – PowerPoint PPT presentation

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Title: Udyam Registration holders can use MSME Samadhaan to recover delayed payments


1
Udyam Registration
  • https//www.udyam-registration.co.in/

2
Udyam Registration holders can use MSME Samadhaan
to recover delayed payments
3
Are you a business owner registered under Udyam
Registration who has customers who wont settle
your dues on time? You might be among the many
MSMEs who also face this problem while doing
business in India. The Ministry of MSME through
The Micro, Small and Medium Enterprise
Development Act, 2006 has laid down a framework
and provision to assist MSMEs with this problem
of delayed payments or potential bad debts. The
Ministry recognizes that this problem has been
causing a hindrance in the growth of MSMEs and
moreover the environment it creates is not
favorable for business growth in India. To help
MSMEs with this problem the Ministry of MSME has
included some provisions under the MSME
Development Act, 2006.
4
The provision under the act The Section 15 to
Section 24 of the Micro, Small and Medium
Enterpsrise Development Act 2006, lays down a
provision of Delayed Payment to Micro and Small
Enterprises and requires the state governments to
establish the Micro and Small Enterprise
Facilitation Council MSEFC for settlement and
resolution of disputes arising from non-payment
or delayed payment to MSMEs. The MSEFC of the
state will examine the case filed and issue
directions to the buyer for payment of the due
amount with interest as per the provisions laid
in the MSMED Act, 2006. First things first, let
us understand who is eligible to avail the
benefits under this provision.
5
Eligibility Criteria All MSMEs who have a
valid Udyam Registration Certificate are eligible
to avail benefits under this program. Application
Process The Ministry of MSME has introduced
the MSME Samadhaan Portal where the eligible
Micro Small Enterprises can file a case using
their Udyam Registration Certificate. You can use
the below link to file a case https//samadhaan.m
sme.gov.in/MyMsme/MSEFC/COM_MSEFC_EntLogin.aspx
6
  • Process of every case
  • After a case has been filed the following process
    is followed
  • The Application is sent to the respective council
    and it takes 15 days to take initial action on
    the case by this Council.
  • The Entrepreneur and the Buyer will both be
    notified by Mail or Email.
  • The Council will give an option to the
    Entrepreneur to mutually settle the application
    before registering a case. The Entrepreneur can
    choose to amicable settle the matter and intimate
    the council accordingly, if the buyer does not
    co-operate then the Entrepreneur can direct the
    council to register a case.
  • Upon reviewing the merits of the application the
    Council will take an action to register a case.
  • If the application does not have merits the
    Council has the right to reject the application.
  • A second intimation is sent to the Entrepreneur
    and the buyer by SMS and Email by the council
    upon registering the case.
  • The council upon receiving replies from all
    parties or either parties will decide on a
    hearing date.
  • Upon hearing both sides the council will make a
    final decision. If any of the party decides not
    to respond the council will make a final decision
    based on the legal grounds and proofs submitted
    with the application.

7
Till date a total of 94,426 applications have
been filed. Out of them 9246 applications have
been mutually settled by the buyer and whereas
19155 applications were rejected by the Council
for having insufficient merits. At present there
are 41467 cases filed having a total amount of
Rs. 14839.15 Cr. involved and 13807 cases have
been disposed. The remaining pending cases are
awaiting for response from either parties. A Few
Salient Features of MSME Samadhaan which we might
have missed If found guilty, the buyer will have
to pay a compound interest with the monthly
interest to the supplier at a rate which will be
three times of the bank rate notified by the
RBI. Every case which is referred to the MSEFC
shall be decided within a period of 90 Days from
the date such a reference was made. If anyone
except the supplier wants to file an appeal, then
such an application shall not be entertained by
the MSEFC unless a deposit of 75 of the reward
has been made by the appellant.
8
The purpose of the Ministry of MSME to promote
Udyam Registration in such a large scale all over
India is to be able to help implement such and
similar other schemes for the benefits of MSMEs
in India. The government aims at creating a
business friendly environment in India through
the system of Udyog Aadhaar and Udyam
Registration. Every Udyami as the government
likes to call registered MSMEs is an important
part of the economy and cannot be neglected at
any cost. You can read more about MSME
Samadhaan by visiting their official link as
given below https//samadhaan.msme.gov.in/MyMsme/
MSEFC/MSEFC_Welcome.aspx
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