Author- admin
Date:April 2, 2023
MSME Samadhaan – What is MSME Samadhaan?
Law notes for NB Associates
MSME Samadhaan is a portal launched by the Ministry of Micro, Small and Medium Enterprises (MSMEs) in India to facilitate the resolution of delayed payment disputes between MSMEs and their buyers.
In this article, we will discuss the importance of MSME Samadhaan, how it works, and its benefits.
Delayed payment is a common problem faced by MSMEs in India, which can lead to financial distress and affect their growth and development.
According to a survey conducted by the Reserve Bank of India, delayed payment is the second most common reason for the closure of MSMEs in India. In such a scenario, MSME Samadhaan provides a platform for MSMEs to file applications for delayed payment of their invoices and receive timely resolution of their disputes.
The portal is an important initiative by the government to support the growth and development of MSMEs in India. MSMEs are a vital part of the Indian economy, contributing to more than 30% of the GDP and providing employment to over 11 crore people.
Therefore, it is essential to ensure timely payment of their dues to promote a healthy business environment and facilitate the ease of doing business.
MSME Samadhaan provides a platform for MSMEs to file applications for delayed payment of their invoices and receive resolution of their disputes.
The portal is designed to be user-friendly and efficient, with features such as online filing of applications, real-time tracking of case status, and online payment of application fee.
To file an application on MSME Samadhaan, the MSME needs to register on the portal and provide details such as name, address, and Aadhaar number.
The MSME can then file an application for delayed payment of their invoice by providing details such as the amount due, the date of delivery, and the credit period agreed upon with the buyer.
Once the application is filed, the buyer is notified and given a chance to respond to the application within a specified time period. If the buyer fails to respond within the given time period, the application is considered accepted and the case is forwarded to the concerned authority for further action.
If the buyer responds to the application, the portal facilitates conciliation between the MSME and the buyer to arrive at an amicable settlement.
If the conciliation fails to resolve the dispute, the case proceeds further and the matter is resolved through arbitration proceedings.
MSME Samadhaan provides a range of benefits to MSMEs, including:
1. Timely resolution of disputes:
MSMEs can file applications for delayed payment of their invoices and receive resolution of their disputes in a timely and efficient manner.
2. User-friendly interface:
The portal has a user-friendly interface that makes it easy for MSMEs to file applications and track the status of their cases.
3. Online payment:
MSMEs can make online payments of the application fee using various payment options like net banking, credit/debit card, and UPI.
4. Dashboard:
MSMEs can view the status of their applications and track the progress of their cases through a personalized dashboard.
5. Grievance redressal:
The portal has a grievance redressal mechanism in place to address any issues or concerns faced by MSMEs during the application process.
6. Dispute resolution:
The portal facilitates the resolution of delayed payment disputes by enabling MSMEs and buyers to negotiate and settle their disputes amicably.
7. Legal action:
In case of non-settlement of the dispute, the MSME can approach the Micro and Small Enterprises Facilitation Council (MSEFC) for further action.
8. Transparency:
MSME Samadhaan ensures transparency in the dispute resolution process by providing regular updates on the status of the case and the progress of the settlement.
9. Cost-effective:
The portal is a cost-effective way for MSMEs to resolve their delayed payment disputes without having to resort to expensive legal proceedings.
10. Time-saving:
MSMEs can save time by filing their applications online and tracking the status of their cases in real-time.
11. Promotes ease of doing business:
MSME Samadhaan promotes the ease of doing business by providing a transparent and efficient mechanism for the resolution of delayed payment disputes.
MSME Samadhaan is an important initiative by the government of India to support the growth and development of MSMEs by ensuring the timely payment of their dues.
The portal provides a user-friendly and efficient platform for MSMEs to file applications for delayed payment of their invoices and receive the resolution of their disputes in a timely and cost-effective manner.
MSME Samadhaan promotes the ease of doing business by facilitating the resolution of delayed payment disputes, thereby promoting a healthy business environment and facilitating the growth and development of MSMEs in India.
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