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Webinar on “Solution of Delayed Payments to MSMEs”
January 14, 2023 @ 4:00 pm – 6:00 pm
Date: 14th January, 2023
Timings: 04:00 PM TO 06:00 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 Payments to MSMEs” on January 14th, 2023
Delayed payment is the biggest problem being faced by MSMEs. In this webinar, we will try to find out various options to this problem. Though MSEs are entitled to the interest @ 3 times of bank rate for the delayed period if the payment is not made within 45 days to them. However, still they are not able to recover even the principal amount in many cases.
MSMEs are struggling for their payments from Government and private companies in many cases. Though there is no full proof solution for this problem, this webinar will try to find some alternate solutions.
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 features 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.
The agenda of this webinar is to educate MSMEs on the following:
- Meaning of Delayed Payments to MSMEs,
- Learn Top 3 Secrets to recover unpaid dues.
- Guidelines for delayed payment of dues to the MSME borrowers
- Rights and Benefits of the MSME Industry under MSMED Act.
- 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.
- Recoveries under other Acts.
- Where to approach in case of default: MSMED Act or other tribunals / Courts?
- Question and Answer Session.
This webinar is expected to last for about 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 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.
Please register at the following link to join the webinar as pre-registration is mandatory
Free Registration Link: https://bit.ly/udyamitahelpline60