x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Well done, Charak | Where cinema begins again: The quiet power of restored classics | The Global Population Challenge | Humans Vs Machines: who will win the future of human resource management | India cannot function without Ram, Krishna, Shiva: CM Yogi | New UP is rushing from heat wave to green wave under Yogi Govt, reveals Forest Deptt report | Balbir remembered Guru Ravidass on Guru Purnima | DC Bandipora visits Gurez, reviews developmental projects | 420 MT Rotor lowered in Unit-I of Pakal Dul H.E. Project, CVPPL | Power Shut down | LG warns people giving irresponsible statements, propagating TRF narrative | LG congratulates Rajat Charak | Post-Operation Sindoor, demand for ‘Make in India’ weapons has seen sharp rise: LG Sinha | Lithium auction in Reasi expected after final survey report | J&K has evolved into year-round, all-segment tourism destination: CM Omar | Arms cache recovered in Poonch | Nabbed with Rs 70 Lakh Heroin, a family from RS Pura’s Tanda village running cross-border narcotics network | Amarnath Yatra: 7,307 pilgrims leave Jammu Base Camp | SC says ECI’s roll revision drive mandated in Constitution, but questions timing | ACB arrests Patwari for accepting bribe | Landslide kills girl | 7 injured in Udhampur accident | Goods train derails in Kathua | Joint Director Tourism Jammu Aijaz Qaiser interacts with social media influencers | MLA Arvind felicitates young Wushu Stars for bringing laurels to J&K | Div Com Jammu reviews preparations for Annual Basohli Utsav | Illegal pony operator booked & temple theft case solved in Katra | J&K Govt embarks on study to establish IT/ITES Parks | HC Grants bail to CE in corruption case | J&K High Court conducts plantation drive at Janipur complex | Kavinder pays obeisance to Hridayadeep Ji Maharaj on Guru Purnima | Pipping ceremony of Assistant Sub-Inspector held | Drug peddler arrested, intoxicant capsules recovered by Udhampur police | ADGP Armed J&K visits IRP 4th Battalion, Kupwara | Mehbooba seeks EAM's intervention to save Indian nurse on death row in Yemen | India's higher education ecosytem has undergone fundamental transformation: Pradhan at VC conference | ED books 29 Actors, Influencers, YouTubers in online betting linked PMLA case | Govt to sell minority stake in LIC | Delhi cop receives extortion call of Rs 10 crore; FIR registered, probe on | Dogri song "Ambli Banage Daal" released in Jammu | "Rotary Club Jammu Elite and SIBA organize successful medical camp | Balwant Thakur to visit England from July 25 to expand Natrang's international network | Modi Govt sets new benchmark for corruption-free governance: Rohiin Chandan | JKAACL hosts "Meet the Author" event | Field office of Union Ministry of MSME organizes Seminar | Samba police arrests absconder | SHKSSJ celebrates Guru Purnima with devotion and grandeur | KSS celebrate Guru Purnima with traditional religious fervor | GAMC&H Akhnoor students visited Sitlee Water Purification Plant | Workshop on Bloom's Taxonomy to Empower Educators | SJVN organizes two-day Orientation Programme for CMDs and Directors of CPSEs | SJVN organizes two-day Orientation Programme for CMDs and Directors of CPSEs | SIPS Hosts CBSE Cluster XVIIl Kabaddi Tournament | SBSSU becomes first University in Punjab to implement mandatory "Entrepreneurship Mindset" curriculum | Preserving our ecosystem, a collective responsibility: Committee on Environment | KU holds special marathon for differently-abled students | Shreyanka, Sadhu named in India A squad to tour Australia, Radha to lead | New Delhi to host two major international shooting competitions in 2027-28 | Back Issues  
 
news details
MSEFC Jammu holds hearing to settle delayed payment cases
6/5/2020 10:38:11 PM
Early times REport

JAMMU, JUNE 05: Micro Small Enterprises Facilitation Council, Jammu held hearing in respect of claims of interest on delayed payments against supply of goods to buyers by the Micro and Small units, under the Chairmanship of Director Industries & Commerce Jammu, Anoo Malhotra (Chairman MSEFC Jammu).
The hearing was held in the office of Director Industries & Commerce Jammu and was attended by the members and their representatives; Lalit Mahajan, Chairman Federation of Industries Jammu, D.P Singh GM(M) J&K SICOP, Navneet Kour Manager J&KDFC (Via VC) and Sanjay Gupta Incharge (Credit) J&K Bank.
Chief Engineer (P&P) along with Executive Engineers of TLMD-I and TLMD-II also attended the hearing to sort out issues pertaining to delayed payments of PDD to MSE`s. Superintending Engineer PHE also attended the hearing of MSEFC besides the staff of MSEFC Secretariat was also present.
Chairman of the MSEFC reiterated various provisions of the MSMED Act under Chapter V pertaining to delayed payments highlighting that, the buyer in terms of purchase or availing services has to make payment to the micro and small unit supplier or service provider on or before the date agreed upon which in no case shall exceed 45 days from the date of acceptance of goods or services. In case of failure to comply with the timeline, the buyer is liable to pay interest with monthly rests (compound interest) at three times the bank rate notified by RBI on the amount under default.
The MSEFC took up 23 cases of delayed payments for discussion and after deliberations issued award in favour of one Micro Small Enterprises involving a Principal outstanding amount of Rs. 325955/- along with an interest on delayed payment amounting to Rs.11614584/-.The parties to the cases were advised to complete the process of reconciliation under section 18(2) of the Act within a period of one week and furnish the status to the MSEFC for further action.
The MSEFC was informed that with the intervention of the council an amount of Rs. 5.60 Crore on account of delayed payments has been received by the appellant units.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU