Archive for year: 2018
Note on Nominee Directors
/0 Comments/in Companies Act 2013, Corporate Laws /by Vinod Kothari ConsultantsSEBI’s recent Informal Guidance under SAST, 2011 in relation to Off Market Transaction
/0 Comments/in Uncategorized /by Vinod Kothari ConsultantsFAQs on SEBI’s circular on standardized norms for transfer of securities in physical mode
/0 Comments/in Companies Act 2013, Corporate Laws, SEBI /by Vinod Kothari ConsultantsCompanies (Amendment) Ordinance, 2018 and proposed changes
/0 Comments/in Amendments to the Companies Act 2013, Companies Act 2013, Corporate Laws /by Vinod Kothari ConsultantsMCA amends Companies(Registered Valuers and Valuation) Rules, 2017
/0 Comments/in Amendments to the Companies Act 2013 /by Vinod Kothari ConsultantsNote on Fraudulent and Wrongful Trading
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsLiberalisation of ECB norms for Infra Companies
/0 Comments/in FEMA, Financial Services, NBFCs /by Vinod Kothari ConsultantsBy Simran Jalan (simran@vinodkothari.com)
Filing of return for delayed payment to MSMEs- Effective or frittering?
/1 Comment/in Corporate Laws, MCA /by Vinod Kothari ConsultantsBy Simran Jalan (corplaw@vinodkothari.com)
The Government of India enacted the Micro, Small and Medium Enterprises Development Act, 2006 (“the Act”)[1] to ensure timely and smooth flow of credit to micro, small, and medium enterprises (MSMEs) and minimize sickness among them. The Act strengthens the provisions relating to delayed payments to the MSMEs by specifying the maximum credit period and higher penal interest if delayed beyond that period.
The Government, on November 2, 2018, issued a notification[2] (the Notification) with respect to delayed payments to the MSMEs. Before delving into the notification, let us first understand the extant provisions relating to delayed payments in the Act.