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On 30th October 2017, the Ministry of Micro, Small & Medium Enterprises (MSME) launched MSME Samadhaan. MSME Delayed Payment Portal or MSME Samadhan was launched expressly to empower micro and small entrepreneurs across the country. It enables them to directly register their cases about delayed payments by Central Ministries/Departments/CPSEs/State Governments.
The portal will significantly facilitate the monitoring of the delayed payment in an efficient manner. The information on this portal will be made available in the public domain, in an attempt to exert moral pressure on the defaulting parties. The MSEs can also access the portal and monitor their cases.
Micro, Small and Medium Enterprise Development or the MSMED Act, 2006 includes provisions that deal with the cases of delayed payments to Micro and Small Enterprises (MSEs). According to these provisions, a buyer is liable to pay a compounded fine, if he fails to make a payment to the supplies within 45 days from the day of acceptance of the goods/service. The fine is compounded monthly on the amount at three times of the bank rate notified by Reserve Bank.
As per section 20 and 21 of the Act, State Governments must establish Micro and Small Enterprise Facilitation Council (MSEFC) for the settlement of disputes for the filing of Delayed payments. Any Micro or small enterprise with a valid Udyog Aadhar (UAM) can apply for such facilitation. Every reference made to MSEFC shall be adjudicated within ninety days from the date of making such a reference. The provisions of this Act are implemented by MSEFC which is chaired by Director of Industries of the State/UT.
Section 16 of the MSMED Act, states the buyer is liable to pay interest with the monthly rests to the supplier in case of non-payment or delayed payment. The interest is compounded at three times the bank rate notified by RBI. Any reference made to MSEFC shall be decided within ninety days from the date of making such a reference. If the appellant filing the case is not a supplier and still wishes to file an appeal, he must set aside 75% of the award amount before the court begins deciding any such case.
The MSEFC of the State after the examination of the case filed by an MSE may issue directions to the buyer for the full payment of the due amount along with interest as well.
Any Micro or small enterprise with a valid Udyog Aadhar (UAM) can apply for filing an online application against the buyer/purchaser of goods/services before the relevant MSEFC of his/her State/UT. These applications will be viewed by the MSEFC Council. Even the Concerned Central Ministries, Departments, CPSEs, State Government will have access to these applications filed.