MSME Department of Madhya Pradesh got the Award from the Central Government

• 25 Feb 2023

Why In News?

• On February 24, 2023, Union Jal Shakti Minister Gajendra Singh Shekhawat presented the 'MSEFC Excellence Award-2022' to the Micro and Small Enterprises Facilitation Council for resolving delayed payments of MSMEs of Madhya Pradesh for strong recovery procedures and quick disposal of cases. .

Key points

• Union Jal Shakti Minister Gajendra Singh Shekhawat presented this prestigious award to P Narhari, Secretary, MSME Department and Industries Commissioner, Madhya Pradesh.
• MSME Department Secretary and Industries Commissioner P. Narahari said that from January 1, 2022, to December 2022, 19 council meetings were held, in which a total of 472 cases were heard and final decisions were taken in 303 cases and uploaded on the departmental portal. Thirty crore 51 lakh 30 thousand 571 rupees were paid through award and settlement.
• It is known that the meeting of the Council is held on every first and third Friday and the facility of virtual hearing is also given to both the parties.
• P. Narhari said that under Section 15 to 23 of the Central Government's Micro, Small and Medium Enterprises Development Act, 2006, the supplier has the right that if he has supplied the material/service to the buyer, before 45 days from the due date Buyer is required to pay.
• If the payment is not made within the time period, then the supplier can claim 3 times compound monthly interest from the buyer under the Act under Section 18 of the Act.