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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...
Read MoreCorporate 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....
Read MoreCorporate 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...
Read MoreCorporate 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...
Read MoreCorporate 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 ...
Read MoreCorporate Law - MSME implements various schemes and programmes for promotion and development of Micro, Small and Medium Enterprises (MSMEs) throughout the country....
Read MoreCorporate 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 MoreCorporate 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...
Read MoreCorporate 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...
Read MoreCorporate 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....
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 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....
Read MoreNo. 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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RBI/2020-2021/26 FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 - (21/08/2020) -
