Redressals For MSME Grievances And Its Procedure

INTRODUCTION

Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 contains the provisions of Delayed Payments to the Micro and Small Enterprises (MSEs). For these provisions to be enacted, the State Government established Micro and Small Facilitation Council (MSEFC) for settlement of disputes on getting references or filing of Delayed Payments.

WHO ARE MSMEs?

Any Indian Enterprise, dealing in goods or services, which is registered with the MSME department vide online registration process is a registered MSME. The Government of India has classified an MSME Enterprise in three categories i.e., Micro, small and medium Enterprises.

1. a micro enterprise, where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;