- This event has passed.
Webinar on “Solution of Delayed Payment to MSME”
July 25, 2022 @ 4:00 am – 5:30 pm
Date: 25th July, 2022
Timings: 04:00 PM TO 05:30 PM
UDYAMITA HELPLINE, with a view to educate MSMEs on a large scale and to provide effective measures to their problems, is organizing a Webinar on “Solution of Delayed Payment to MSMEs – (Recover your Payment 1 Lac to 10 Crore) on July 25th, 2022
While MSMEs are considered to be the backbone of the Indian economy and contribute for approx. 31% of the country’s GDP and approx. 45% of the country’s exports. However, most of the MSMEs are facing a lot of problems in recovering their debts due from their debtors. As a result of which, the business of MSMEs is getting adversely impacted.
In order to resolve this issue and to promote entrepreneurship and development of MSMEs, the Ministry of MSME established the Micro, Small and Medium Enterprises Development Act (‘MSMED Act’) in 2006 wherein one of the salient feature was section 15 which mandates the buyer to make payment of the goods bought or services taken within a stipulated time frame, not exceeding 45 days. Further, Section 16 stipulates charging of interest, compounded on a monthly basis, at three times the bank rate on default till the date of actual payment.
Despite such stringent provisions provided in the MSMED Act, the MSMEs are still struggling with the problem of Delayed Payments from Government departments/ PSUs, Large Corporates and even other MSMEs.
The agenda of this webinar is to educate MSMEs on the following:
- Meaning of delayed payment
- Guidelines for delayed payment of dues to the MSME borrowers
- Steps to be taken in case of filing an application before MSEFC for non-payment of the dues by the buyer.
- Effective ways to strengthen your communication with the buyer so that recovery can be made quicker.
- Recovery under the MSMED Act.
- Recoveries under other Acts.
- Where to approach in case of default: MSMED Act or other tribunals / Courts?
- And many more…
This webinar is expected to last for about 1 and 1/2 hours and will be addressed by an eminent speaker Mr. Ravi Chauhan, Legal Consultant & Recovery Expert (MSME) having rich experience in the field of providing advisory and consultancy to a large number of MSMEs including Govt. undertakings.
The Webinar shall be moderated by Mr. Shashank Nigam, Founder of Udyamita Helpline and Ms. Richa Bhardwaj, Advisor at Udyamita Helpline.
We highly encourage you to join this important webinar to learn from one of the prominent MSME Experts on how to effectively do your business, eradicate the problems of delayed payment and to recover your delayed payments in no time.