MSMED Act

Micro, Small and Medium Enterprises

Corporate Law - Micro, Small and Medium Enterprises which are the backbone of the Indian economy in terms of their contribution to the country’s GDP, Exports, employment generation and inclusive growth, require to be nurtured effectively so that they maintain their health. The COVID-19 pandemic has been a setback to the sector and its impact is expec...

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Rebooting MSMEs In The Covid 19 ERA

Corporate Law - ICAI has come out with a model for sustainability of MSME. MSME Business Continuity Checklist focused on a number of factors that require special attention by the management of MSME which can guide their initiative to face this tough time....

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FAQs- Distressed Asset Fund – Subordinated Debt for Stressed MSMEs

Corporate Law - Frequently Asked Questions (FAQs) – Distressed Asset Fund – Subordinated Debt for Stressed MSMEs (DAF-SDSM) / Credit Guarantee Scheme for Subordinate Debt (CGSSD) 1. What is Distressed Asset Fund – Subordinated Debt for Stressed MSMEs? The “Distressed Asset Fund – Subordinated Debt for Stressed MSMEs” is a sche...

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MSME need NSIC- Single Point Registration Scheme

Corporate Law - As we know that the Government is also largest buyer of a variety of goods & services. The Government Stores Purchase Programme was launched in 1955-56 to create opportunity in increasing the share of purchases from the small-scale sector, Further Single Point Registration Scheme (SPRS), a startup scheme launched in 2003 and managed b...

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Udyam Registration – FAQs

Corporate Law - Union Ministry of Micro, Small and Medium Entities (MSME), vide its Notification Dated 26.06.2020 notifies the new definition of MSME along with its new name i.e., “UDYAM Registration”, and introduced a new portal named “UDYAM Registration Portal”. Ministry also issued a clarification regarding new criteria for the classification ...

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Contribution of MSMEs in Economy

Corporate Law - MSME implements various schemes and programmes for promotion and development of Micro, Small and Medium Enterprises (MSMEs) throughout the country....

Read More

Steps taken for Revival of MSME Sector due to COVID-19

Corporate Law - Recently, Post Covid-19, Government has taken a number of initiatives under Aatma Nirbhar Bharat Abhiyan to support the MSME Sector in the country especially in Covid-19 pandemic....

Read More

Dues of MSMEs: Ministry takes deeper efforts to realise payments

Corporate Law - Dues of MSMEs : Ministry of MSME takes the efforts even deeper to realise these payments. After Government Agencies and Public Sector Units, Union Ministry takes up the matter with Private Coprporates too. MSME Ministry writes to CMDs of top 500 Corporate Enterprises to show solidarity with smaller units and clear MSME dues on priority...

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MSME Ministry takes lead in helping MSMEs get their dues

Corporate Law - Historic Interventions made by the Central Government to Ensure Timely Payments to MSMEs. MSME Ministry takes lead in helping the MSMEs get their dues. On-boarding of MSMEs on TReDS Mechanism made free. MSME Ministry alerts MSMEs to beware of fake websites charging money in the name of registration; and re-iterates that registration be do...

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Shri Gadkari Asks Large Industries to Clear MSME Dues on Priority

Corporate Law - Shri Nitin Gadkari also emphasized on clearing MSME dues by all on priority. He called upon large industries and business houses/Companies to treat this as an important matter. Shri Gadkari asked CII members to help in the development and growth of ancilliary units/industries to supply spare parts....

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HC dismisses PIL to include Advocates in Definition of ‘Professionals’ under MSMED Act

Abhijit Mishra Vs Union of India & Ors (Delhi High Court) - Whether the public interest litigation (PIL) challenging non-inclusion of advocates in the definition of the word 'professionals' under the MSMED Act, 2006 will be entertained by High Court?...

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Stay on NCLT Order Initiating Insolvency Proceedings against MSME

Pankaj Aggarwal Vs Union of India & Ors. (Delhi High Court) - Whether the NCLT was correct in passing an order of initiation of the CIRP against a MSME without considering the fact that the minimum threshold limit of filing application in NCLT has been increased to Rs. 1 Crore?...

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Unregistered MSME will also be treated as ‘supplier’ u/s 2(n) of MSMED Act

M/s Ramky Infrastructure Private Limited Vs Micro And Small Enterprises Facilitation Council & ANR (Delhi High Court) - Hon'ble HC held that an entity which falls within the definition of the micro/small enterprise will be treated as a ‘supplier’ under Section 2(n) of the MSMED Act even if it has not filed a Memorandum as required under Section 8(1) of the MSMED Act....

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New Definition of Micro, Small & Medium Enterprises- clarifications

RBI/2020-2021/26 FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 - (21/08/2020) - (i) Classification / re-classification of MSMEs is the statutory responsibility of the GoI, Ministry of MSME, as per the provisions of the MSMED Act, 2006. (ii) As per para 2 of the said Gazette notification all enterprises are required to register online and obtain ‘Udyam Registration Certific...

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Clarification on existing EM Part-II/ UAM/New Udyam Registration-reg.

No. 2/1(5)/2019- P&G/Policy (pt. IV) - (06/08/2020) - MSME Clarification on existing Entrepreneurs Memorandum (EM) Part-II/Udyog Aadhaar Memorandum (UAM)/New Udyam Registration dated 6th  August, 2020 No. 2/1(5)/2019- P&G/Policy (pt. IV) Ministry  of MSME Office of the Development  Commissioner(MSME) Ministry of Micro, Small & Medium Enterpr...

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CBDT Signs MOU with MoMSME for sharing of data

Release ID: 1639978 - (20/07/2020) - The MoU will facilitate seamless sharing of certain Income-tax Return (ITR) related information by the Income Tax Department to MoMSME. This data will enable MoMSME to check and classify enterprises in Micro, Small and Medium categories as per the criteria notified in the Notification No. S.O. 2119(...

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RBI extends timeline for finalization of audited accounts by NBFC

RBI/2020-21/11 DoR (NBFC) (PD) CC. No. 114/03.10.001/2020-21 - (06/07/2020) - RBI decided that every applicable NBFC shall finalise its balance sheet within a period of 3 months from the date to which it pertains or any date as notified by SEBI for submission of financial results by listed entities....

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Interest to be charged on delayed payments to vendors on GeM

No. F. 6/18/2019-PPD - (03/07/2020) - n order to promote greater discipline and timeliness in payment to vendors , it is decided that whenever a CRAC is auto generated or issued by a buyer and payment is not made 10 days thereafter, the buyer organization will be required to pay penal interest @ 1% per month for the delayed payment beyo...

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Recent Posts in "MSMED Act"

Contribution of MSMEs in Economy

MSME implements various schemes and programmes for promotion and development of Micro, Small and Medium Enterprises (MSMEs) throughout the country....

Read More
Posted Under: Corporate Law |

Steps taken for Revival of MSME Sector due to COVID-19

Recently, Post Covid-19, Government has taken a number of initiatives under Aatma Nirbhar Bharat Abhiyan to support the MSME Sector in the country especially in Covid-19 pandemic....

Read More
Posted Under: Corporate Law |

Dues of MSMEs: Ministry takes deeper efforts to realise payments

Dues of MSMEs : Ministry of MSME takes the efforts even deeper to realise these payments. After Government Agencies and Public Sector Units, Union Ministry takes up the matter with Private Coprporates too. MSME Ministry writes to CMDs of top 500 Corporate Enterprises to show solidarity with smaller units and clear MSME dues on priority...

Read More
Posted Under: Corporate Law |

Micro, Small and Medium Enterprises

Micro, Small and Medium Enterprises which are the backbone of the Indian economy in terms of their contribution to the country’s GDP, Exports, employment generation and inclusive growth, require to be nurtured effectively so that they maintain their health. The COVID-19 pandemic has been a setback to the sector and its impact is expec...

Read More
Posted Under: Corporate Law |

MSME Ministry takes lead in helping MSMEs get their dues

Historic Interventions made by the Central Government to Ensure Timely Payments to MSMEs. MSME Ministry takes lead in helping the MSMEs get their dues. On-boarding of MSMEs on TReDS Mechanism made free. MSME Ministry alerts MSMEs to beware of fake websites charging money in the name of registration; and re-iterates that registration be do...

Read More
Posted Under: Corporate Law |

Rebooting MSMEs In The Covid 19 ERA

ICAI has come out with a model for sustainability of MSME. MSME Business Continuity Checklist focused on a number of factors that require special attention by the management of MSME which can guide their initiative to face this tough time....

Read More
Posted Under: Corporate Law |

FAQs- Distressed Asset Fund – Subordinated Debt for Stressed MSMEs

Frequently Asked Questions (FAQs) – Distressed Asset Fund – Subordinated Debt for Stressed MSMEs (DAF-SDSM) / Credit Guarantee Scheme for Subordinate Debt (CGSSD) 1. What is Distressed Asset Fund – Subordinated Debt for Stressed MSMEs? The “Distressed Asset Fund – Subordinated Debt for Stressed MSMEs” is a sche...

Read More
Posted Under: Corporate Law |

MSME need NSIC- Single Point Registration Scheme

As we know that the Government is also largest buyer of a variety of goods & services. The Government Stores Purchase Programme was launched in 1955-56 to create opportunity in increasing the share of purchases from the small-scale sector, Further Single Point Registration Scheme (SPRS), a startup scheme launched in 2003 and managed b...

Read More
Posted Under: Corporate Law |

New Definition of Micro, Small & Medium Enterprises- clarifications

RBI/2020-2021/26 FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 (21/08/2020)

(i) Classification / re-classification of MSMEs is the statutory responsibility of the GoI, Ministry of MSME, as per the provisions of the MSMED Act, 2006. (ii) As per para 2 of the said Gazette notification all enterprises are required to register online and obtain ‘Udyam Registration Certificate’. All lenders may, therefore, obta...

Read More

Shri Gadkari Asks Large Industries to Clear MSME Dues on Priority

Shri Nitin Gadkari also emphasized on clearing MSME dues by all on priority. He called upon large industries and business houses/Companies to treat this as an important matter. Shri Gadkari asked CII members to help in the development and growth of ancilliary units/industries to supply spare parts....

Read More
Posted Under: Corporate Law |

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