Msme (recovery suit)
Law Aspire
(Querist) 12 May 2012
This query is : Resolved
ABC Ltd a Public ltd company & also a Small Enterprise under MSMED Act,2006 sold certain goods to DEF Ltd on 25th April 2008.No fixed Credit Period Decided.DEF Ltd not paid any amount on receiving of goods. And DEF is still standing as Creditor of the company in the balance Sheet. 3 years lapsed from the date of delivery of goods. So as per me Civil suit under CPC for recovery of Due amount is barred by Limitation Act .
As per Chapter –V of MSMED Act Buyer is liable to make payment in case of supply of goods/services. And if he does not do so Supplier can approach MSME Facilitation council for recovery of Amount Due.
Here my query is that can we approach MSME Council or we are here also barred by limitation Act to go to MSME council?
If we can approach MSME Council than what will be the procedure to be followed here?
ajay sethi
(Expert) 12 May 2012
what were you doing for 3 years? your claim is barred by limitation unless the company has acknowledged its libailty in writing
Shonee Kapoor
(Expert) 12 May 2012
Nothing left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Law Aspire
(Querist) 16 May 2012
Not satisfied with the answers. Pls elaborate the views.
No views been provided on MSMED provisions
Saurendra Rautray
(Expert) 03 July 2014
Mr Rachit,
The dispute is barred by limitation as the suit or Claim under Arbitration before the MSEFC under MSMED Act has to be filed within three years from the date of delivery or from the date of the last payment. In your case it has elapsed.For further queries mail me.
Adv Saurendraay@gmail.com
saurendra.rautr
Rautray&Co
New Delhi
09347008255
