Bank rate notified by RBI for MSME delayed payment 2023 MSME Law Notes by NB Associates Section 16 read with Section 2(b) of the MSME Act prescribes if a buyer fails to make payment to a Micro or small enterprise within a maximum period of 45 days of the acceptance or deemed acceptance of goods or services, the buyer will be required to pay interest at a rate equal to three times the bank rate notified by the Reserve Bank of India. We are the leading Law firm / Lawyers providing comprehensive MSME legal consultancy to our clients. We also help and legally assist our clients in the recovery of dues or outstanding. Clients may contact us at the given number for any legal consultancy or through email id. Contact no : 9811899279 | Email. mail@nbassociates.net Bank rate notified by RBI for MSME delayed payment 2023 is currently stands at ...
Read More

Section 17 of MSME Act – What is Section 17 of MSME Act MSME Law Notes by NB Associates Section 17 of MSME Act or MSMED Act deals with and provides for the buyer’s liability to pay interest to the supplier. The interest amount also comes under the provision of ‘recovery of dues’ against the buyer. The interest amount is also recoverable due as per section 17 of the MSME Act. We are the leading Law firm / Lawyers providing comprehensive MSME legal consultancy to our clients. We also help and legally assist our clients in the recovery of dues or outstanding. Clients may contact us at the given number for any legal consultancy or through email id. Contact no: 9811899279 | Email. mail@nbassociates.net Section 17 of the MSME Act reads as under: 17. Recovery of the amount due.—For any goods supplied or services rendered by the supplier, the buyer ...
Read More

MSME Award Appeal – Appeal against MSME Arbitration Award MSME Law Notes by NB Associates MSME Award Appeal here we mean and discuss Appeal against the order, decree or Award arising out of the statutory arbitration proceeding under MSME Act An appeal against an Award, order or decree arising from a statutory arbitration proceeding under the MSME Act refers to the process of challenging a decision made during arbitration in accordance with Section 18(3) of the MSMED Act. We are the leading Law firm / Lawyers providing comprehensive MSME legal consultancy to our clients. We also help and legally assist our clients in the recovery of dues or outstanding. Clients may contact us at the given number for any legal consultancy or through email id. Contact no: 9811899279 | Email. mail@nbassociates.net In the MSME claim proceeding, which is initiated under the MSMED Act, the dispute between the parties is eventually ...
Read More

What is Section 14 of the MSMED Act, 2006? MSME Law Notes by NB Associates Section 14 of the MSMED Act 2006 pertains to the establishment and administration of the Fund. It does not specifically relate to the recovery of outstanding amounts or interest. We are the leading Law firm / Lawyers providing comprehensive MSME legal consultancy to our clients. We also help and legally assist our clients in the recovery of dues or outstanding. Clients may contact us at the given number for any legal consultancy or through email id. Contact no : 9811899279 | Email. mail@nbassociates.net As per section 12 of the MSME Act, Central Government may by notification establish one or more fund for the promotion and development of MSME. In such fund the Central Government credit funds for the purpose. Section 14 of the MSMED Act provides for the provision of Administration and utilisation of such ...
Read More