Legal action

atul (Querist) 18 August 2011 This query is : Resolved
Dear Sir

Ameya Dyechem Pvt ltd register in MSMED in SSI unit, we have set of dealers who don't pay payment on time now we have to do legal action, is there any law comes under MSMED which will help us for payment from deales

Tnx

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Raj Kumar Makkad (Expert) 18 August 2011
There is no such separate law meant to deal wit problem being faced by you even otherwise if any person do not comply with his undertaking, one has to initiate legal action against him.

prabhakar singh (Expert) 18 August 2011
yes there is one. THE MICRO, SMALL & MEDIUM ENTERPRISES DEVELOPMENT (MSMED) ACT ..2006(MSMED) ACT, 2006. BECAME OPERATIONAL FROM 2 OCTOBER 2006.

you may get the text
http://dcmsme.gov.in/MSMED2006.pdf

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