For Micro, Small, and Medium Enterprises (MSMEs), timely payments are crucial for smooth operations and growth. Recognizing the challenge of delayed payments, the Government of India introduced MSME SAMADHAAN, an online platform designed to help MSMEs recover their dues efficiently.
What is MSME SAMADHAAN?
MSME SAMADHAAN is a government initiative that enables MSMEs to file complaints against buyers who delay payments beyond 45 days. This system is backed by the MSMED Act of 2006, which mandates timely payments to MSMEs and provides a legal framework for addressing payment delays.
How MSME SAMADHAAN Works
- Filing Complaints: MSMEs can lodge digital complaints on the MSME SAMADHAAN portal when payments are delayed beyond 45 days.
- MSEFC Involvement: Complaints are forwarded to the Micro and Small Enterprise Facilitation Council (MSEFC) for inquiry and dispute resolution.
- Conciliation: MSEFC attempts to settle disputes through friendly conciliation between the MSME and the buyer.
- Arbitration: If conciliation fails, MSEFC can initiate arbitration to resolve the dispute.
- Interest on Delayed Payments: The Act mandates compound interest at three times the bank rate notified by RBI for delayed payments.
Eligibility for Filing a Case
To file a case on MSME SAMADHAAN, the following criteria must be met:
- The complainant must be a registered MSME under the MSMED Act, 2006.
- The payment must be delayed beyond 45 days from the acceptance of goods or services.
- Ideally, both the MSME and buyer should be registered under the MSME Act, but complaints can be filed even if the buyer is unregistered.
Smartcorp: Your Partner in MSME Compliance
Navigating the MSME SAMADHAAN portal and its legal procedures can be challenging. That's where Smartcorp comes in. As experts in MSME compliance, we offer comprehensive support for recovering dues through MSME SAMADHAAN.
Our Services
- Initial Consultation: We assess your case and advice on the best course of action.
- Case Preparation: We guide you in compiling necessary documents and preparing your case for submission.
- Complaint Filing: We handle the entire process of filing your complaint on the MSME SAMADHAAN portal.
- Ongoing Support: We provide continuous updates and protect your interests throughout the redressal process.
Why Choose Smartcorp?
- Expertise: With extensive experience in MSME compliance and payment recovery, we're well-equipped to handle complex legal procedures.
- Personalized Service: We tailor our services to your specific needs, regardless of your location in India.
- Efficiency: Our optimized processes save you time and effort in filing and recovery.
- Results-Oriented: We're committed to helping you recover your dues quickly for your business growth.
Take Action Today
Don't let delayed payments hinder your business growth. If you're an MSME facing payment issues, Smartcorp can help you leverage the MSME SAMADHAAN platform effectively. Contact us to schedule a consultation and start the recovery process.
Whether you're based in Chennai, Coimbatore, Bangalore, Cochin, Madurai, or anywhere else in India, Smartcorp is here to guide you through the MSME SAMADHAAN process. Let us help you maintain financial stability and focus on growing your business.
Remember, timely payments are the lifeblood of your MSME. With Smartcorp's expertise and the power of MSME SAMADHAAN, you can ensure that your invoiced amounts are received promptly, supporting your business's financial health and growth potential.
