Corporate & Compliance Digest March 30, 2026

1.1. ESIC mandates faster payments for vendors and MSMEs

The Employees’ State Insurance Corporation (“ESIC”) has issued a new directive to ensure that all vendors, including those from Micro, Small and Medium Enterprises (“MSMEs”), receive their payments more promptly. Under these updated guidelines, all units must complete payments for goods and services procured through the Government e-Marketplace within 10 days of the Consignee Receipt and Acceptance Certificate being generated. This strict deadline also applies to cases where the certificate is automatically produced by the system. Any unit failing to meet this 10-day window will be required to provide a formal justification and must detail the delay in their pendency reports.