MSME recovery of money

Legal services: MSME recovery of money, Money recovery MSME

MSME recovery of money

The debt recovery provisions of the MSME Act, of 2006 have proved a boon for business houses.

MSMEs i.e. MSMEs i.e. Micro, Small & Medium enterprises can recover their dues or debt by making a claim before the MSME facilitation council.

Such a claim can be filed before the MSME council within the jurisdiction of the MSME is registered.

The claim for the MSMC recovery of dues or debt can be filed if payment is not made within a period of 45 (days) from the date on which such a claim is accrued.

MSME can claim statutory interest rate

One of the important aspects of this proceeding is that the claimant can claim interest at the rate i.e. 3 times of the bank rate notified by RBI.

So, even if the rate of interest is not agreed upon, the supplier or service provider can claim the aforesaid rate of interest as per section 16 of the MSME Act.

As per law, this interest is compounded at monthly intervals.

So, the MSME claim gets a better interest rate than normally awarded in a commercial suit.  

To know the basics about MSME claims and related laws, you can access our frequently asked questions page.

Read here :                              

Our legal services for MSME recovery of money

We provide verities of legal services.

With a robust team of lawyers and a wide network, we are helping our clients in all 11 districts in Delhi.

We are also helping our clients in NCR Regions (Noida, Greater Noida, Ghaziabad, Faridabad, Gurugram)

We are also helping our clients in Lucknow, Chandigarh and Panchkula region. 

What legal services do we provide to our clients for MSME recovery of money?

Our legal services in respect of MSME recovery of money are comprehensive to cover each and every aspect. These legal services are :

Legal advisory on MSME claims

We provide effective legal advisory or consultancy in respect of each and every aspect touching MSME Claims and Legal consultancy.

Legal notices – MSME claims

Although prior legal notice is not mandatory, the legal notice fixes a base for initiating MSME claims.

We help and assist our clients in preparing for legal notice, drafting and sending it to the opposite party.

Reply to legal notices – MSME claims

We sit together with clients to understand their defence and accordingly prepare a reply to the legal notice received. The reply to legal notice is an essential element as it sets the client’s defence in motion.

Filing of MSME claims in MSME Samadhan.

MSME claims are set in motion when the client files its claim with MSME Samadhan.

We legally advise and assist our client to compile documents necessary for filing the claim in MSME Samadhan.

Claim before MSME Facilitation council

We legally advise and assist our client in preparing an MSME claims petition along with the requisite documents to be filed with the related MSME Facilitation council. We also represent the claimant or petitioner before the MSME Facilitation council.

Defence before MSME Facilitation council

We legally advise and assist our client in preparing the defence against any MSME claim petition. We also represent the Buyer / respondent / defendant before the MSME Facilitation council.

Claim before an Arbitration proceeding

We legally advise and assist our client in a statement of claim and filing the same in the arbitration proceeding. We also represent the claimant or petitioner in arbitration proceedings.

Defence in an Arbitration proceeding

We legally advise and assist our client in preparing the defence against any statement of claim petition in arbitration proceedings.

We also represent the Buyer/ respondent / defendant in the arbitration proceedings.

Execution of Arbitral Award

Once an award or decree is passed in the arbitration proceeding, and the respondent or defendant does not pay, the award or decree is required to be executed against the respondent buyer.

We help, assist and represent our clients in the execution of the Arbitral awards.

Challenge or objection to the award by respondent

When the award is passed against the Buyer or respondent, the respondent must challenge or file an objection against the award in the court under section 34 of the Arbitration & Conciliation Act, 1996 read with section 19 of the MSMED Act.

We help and assist the respondent in preparing the objection and also to file and generally represent the respondent before the court in such objection or challenge.

Challenge or objection to the award by the claimant

If any award or any relief prayed for is not granted to the claimant in an arbitration proceeding, the claimant may file an objection to such arbitral award section 34 of the Arbitration & Conciliation Act, 1996 read with section 19 of the MSMED Act.

We help and assist the claimant in preparing the objection and also to file and generally represent the claimant before the court in such objection or challenge.

Appeal against the interim order in an Arbitration proceeding

If any appeal is required to be filed against any interim order in the arbitration proceedings. We help and assist our clients in preparing the same. We also represent our clients before the court.

Appeal against the final order arising out of arbitration proceeding.

If any appeal is required to be filed against any final order arising out of the arbitration proceedings. We help and assist our clients in preparing the same. We also represent our clients before the court.

Negotiation with the opposite party

We also help and assist our clients in negotiating with the opposite party for early recovery or disposal of the MSME claims.

Representing clients before District Court

We help and assist our clients in preparing any petition, applications etc., to be filed in the District courts in Delhi (All six district courts). We also help our client in doing the same before the Noida District Court, Ghaziabad District Court, Faridabad District Court and Gurgaon District court.

Representing clients before High Court

We help and assist our client in any claim, petition etc., filed before the High Courts.

We also represent the clients in High Courts.

Representing clients before Supreme Court

We help and assist our client in any claim, petition etc. filed before the Supreme Court. We also represent the clients in Supreme Court.

Why do clients choose us for MSME recovery of money?

Best Legal Advice 

Issues may be complex. It is imperative to listen the client.

We give ear. We understand the issue, weigh them on legal parameters, and come out with practical solution.

Honouring Client’s Trust

Client has issues. He does not have the solution. He may not have the vision which goes to the solution.

Trust is bestowed upon a professional by client to give him solution in his best interest. To give him that clear vision which goes to solution.

We honor that trust.

Confidentiality

Client shares his issues with a professional. Such issues may contain non -public or confidential information of client.

We honor confidentiality of client.

How can we be contacted for MSME recovery of money?

For specific questions or queries related to our services, we can be contacted by:

Fix an appointment: Any appointment can be fixed physically, telephonically or through video conferencing.

Email. mail@nbasociates.net : While emailing please do give your name and mobile number. Also, your queries or question should contain all relevant materials, which will help us to effectively answer your questions or queries.

Call: You may contact us at 9811899279. If the call is not picked up you can request a call back.

Whatsapp message: You can request a call back through WhatsApp message at the given number i.e. 9811899279

Telegram message: You can also request a call back through Telegram message at the given number i.e. 9811899279

Contact us form: You can send your questions or queries through the Contact us form appearing in the sidebar if you are using a desktop or appearing below on your using mobile.

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Frequently Asked Questions

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FAQ in MSME Samadhan Portal

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Related Law Articles

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