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. There have been challenges to this provision in courts, where the contentions were raised that this provision is not mandatory and there can be deviation by the Appellate court. Thus, the Supreme Court has made it clear that the provision of section 19 of the MSME Act is mandatory in nature..    

MSME Law – MSME Laws – NB Associates

Author- admin
Date:April 28, 2024

MSME law refers to legislation and regulations governing Micro, Small, and Medium Enterprises.

These MSME laws are designed to provide a conducive environment for the growth and sustenance of small businesses, which are vital for economic development, employment generation, and fostering entrepreneurship.

The major MSME Law in India is Micro, Small and Medium Enterprises Development Act, 2006. This MSME law is also called MSMED Act or MSME Act in short.

Besides, several State governments have enacted it’s own MSME rules for giving intent to main MSME law.

The Central and the State Government, from time to time also come up with regulations, and notifications in consonance with and to facilitate the provisions of the above MSME Law.

The above-mentioned MSME laws include provisions related to:

Definition and Classification: Establishing criteria for defining what constitutes a micro, small, or medium enterprise based on factors such as investment in plant and machinery, turnover etc..

Registration and Compliance: Procedures for MSME registration to avail benefits of MSME law provisions and incentives provided by the government

Financial Support and Incentives: Provision of financial assistance, subsidies, tax breaks, credit guarantees, and other incentives to support MSMEs in accessing capital, technology, and markets.

Promotion and Development: Measures to promote the growth and development of MSMEs through capacity-building programs, skill development initiatives, technology upgradation, market linkages, and entrepreneurship development.

Protection and Facilitation: Ensuring fair treatment, protection of interests, and facilitation of MSMEs in dealing with government agencies, larger enterprises, and other stakeholders.

    MSME laws aim to create an enabling environment for small businesses to thrive, contribute to economic growth, generate employment opportunities, and foster innovation and competitiveness.

    They play a crucial role in promoting inclusive and sustainable development by empowering smaller enterprises and entrepreneurs.