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Corporate Law - MSMEs are playing a significant role in emergence of Indian Economy. And for benefitting the MSMEs and their smooth functioning government is taking several steps, one of the major steps amongst them is the introduction of the new definition and a new portal for the same. Our previous articles on UDYAM Registration: — 1. Elucidation...
Read MoreCorporate Law - Basic theme is same (i.e. Working Capital = Current Assets -Current Liabilities) but working and its Impact is totally different in both type of Industry i.e. Heavy Goods Industry & MSME Industry. Working Capital is necessary to run the Business smoothly over the period after its initial start-up. Maximum time the Entrepreneur fails t...
Read MoreCorporate Law - About AEO In 2011, Indian Authorised Economic Operator (AEO) Programme was introduced by Central Board of Indirect Taxes & Customs (“CBIC”). In 2012, Government came up with further rules and instructions in reference to AEO Programme. Administered by CBIC, the Indian AEO Programme is a voluntary programme that applies to all busi...
Read MoreCorporate Law - ‘Send me your inputs so that we can see a Budget which is a Budget like never before, in a way. 100 years of India wouldn’t have seen a Budget being made post-pandemic like this‘ the Hon’ble Finance Minister Nirmala Sitharaman said while addressing the CII Partnership Summit 2020. She also said that to revive [&helli...
Read MoreCorporate Law - The MSME sector is an important pillar of Indian economy as it contributes greatly to growth of Indian economy with a vast network of around 30 million units, creating employment of about 70 million, manufacturing more than 6000 products, contributing about 45% to manufacturing output and about 40% of exports, directly and indirectly....
Read MoreCorporate Law - ICAI launched MSME Mentorship Programme & 100 Facilitation Centre for MSME/GST during National Conclave on Empowering MSMEs towards Aatmaniarbhar Bharat to make them globally competitive....
Read MoreCorporate Law - CBIC has taken a new initiative to introduce its flagship Liberalised MSME AEO Package for Micro Small and Medium Enterprises (MSMEs)....
Read MoreCorporate Law - Technology based Initiatives & Interventions of MSME Ministry to tackle COVID-19 challenge leads to Effective response to Prime Minister’s call of Atmanirbhar Bharat & Make in India The Step Results in lowering the cost of Medical items including Hand Sanitizer; It leads to reducing imports and making exports possible of several C...
Read MoreCorporate Law - An approval letter allegedly issued by the Ministry of MSME is granting a loan and requesting a payment of ₹ 1000 on the pretext of processing fee. This letter is Fake. Ministry of MSME does not directly deal with individual beneficiaries for any of its credit schemes....
Read MoreCorporate Law - Ministry of Micro,Small & Medium Enterprises PRESS NOTE Ministry of MSME alerts the public at large about unauthorized and ill-intentioned activities of MSME Export Promotion Council Ministry takes strong note of mischievous activities of this organization projecting itself as part of the MSME Ministry Ministry denies its role or auth...
Read MoreAbhijit 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?...
Read MorePankaj 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?...
Read MoreM/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....
Read MoreCircular No. 54/2020-Customs - (15/12/2020) - CBIC relaxes entire gamut of compliance & security requirements for MSMEs. The relaxation has been carried out to ensure that the MSMEs are facilitated through rationalized compliance requirements...
Read MoreRBI/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...
Read MoreNo. 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...
Read MoreRelease 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(...
Read MoreRBI/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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Circular No. 54/2020-Customs - (15/12/2020) -
