SME Facilitation Council addressed the Delay in Payment of Micro & Small Industries

On 05 January, 2015

Forum: Taxation & Corporate Law Forum

Speaker: Shri Hemant Pawar, Additional Commissioner and the Chairman of the Facilitation Council of Nagpur Region & Shri M.A.H. Khan, Addl Commissioner and former Chairman of the Council said that like Consumer Forum

SME FACILITATION COUNCIL ADDRESSED THE DELAY IN PAYMENT OF MICRO & SMALL INDUSTRIES DSC_1196 - Copy DSC_1195 - Copy

Micro & Small Enterprise Facilitation Council is formed under the Micro Small and Medium Enterprises Development Act 2006 (MSMED Act) is an important tools in the hands of the small industry to expedite the issues of the delay payments by the buyers. The buyers may be in private sector or PSU or Govt Departments, it applies equally to all, said Shri Pawar. He further said that the Council would meet more frequently to dispose off the cases within the time framed. Shri Khan, which deals with redressal of the consumers this Facilitation Council deals with the industrial dispute regarding the delay in payments to small industries. Shri Vikas Jain, Secretary, MSE Facilitation Council & JDI briefed about the formation of this Council. In the welcome address Shri Atul Pande, President highlighted the importance of this awareness program. He said that most of the industries are not aware of these legal remedies available before moving to Court. Shri O S Bagdia, Chairman – Economic & Finance Forum said it is the payment which creates the profit and not the sale per se. so timely payment are important. Capt Chandramohan Randhir, President – MIA and member of the Council shared his views.

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