By TIOL News Service

NEW DELHI, MARCH 17, 2020: TO address the issues related to delayed payments of Micro, Small and Medium Enterprises (MSMEs), the Ministry of Micro, Small and Medium Enterprises (MSME)  has taken the following steps:

- Micro and Small Enterprises Facilitation Councils (MSEFCs) have been set up in all States/ UTs to resolve the delayed payments cases by way of conciliation and / or arbitration as per the provisions of the Micro, Small & Medium Enterprises Development Act, 2006.

- Ministry of MSME has launched MSME SAMADHAAN portal to facilitate online registration of references related to delayed payments.

- Companies which get supplies of goods or services from Micro & Small Enterprises  and whose payments to micro and small enterprises exceed 45 days from the date of acceptance or the date of deemed acceptance of the goods or services have been  required to submit a half yearly return to the Ministry of Corporate Affairs stating the  amount of payments due  and the reason of delay. Also, all Companies registered as per the Companies Act, 2013 with a turnover of more than Rs. 500 crore and all Central Public Sector Enterprises have been required to get themselves on boarded on the Trade Receivables Discounting System Platform (TReDS).

The Ministry of MSME has put in place a portal named 'MSME SAMADHAAN' ( https://samadhaan.msme.gov.in/ MyMsme/MSEFC/MSEFC_Welcome.aspx ), wherein the MSEs across the country can  register online their cases relating to delayed payments.  Such MSEs can also check the status of their cases on the above portal.

This information was given by Mr Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises in written reply to a question in Rajya Sabha yesterday.