MSME Ministry withdraws earlier circular on 'Clubbing of Investment'

New Delhi, Mar 28 (KNN) The Ministry of MSME has withdrawn its circular on 'Clubbing of Investment' of different enterprises under the same ownership.

The circular, issued on September 29, 2015, has been withdrawn with immediate effect.

However, the notification mentioned that, “This issues with the approval of Minister for Micro, Small and Medium Enterprises.”

In a circular dated September 29, 2015, DC-MSME said, “The matter regarding clubbing of various enterprises (whether located in the same district or in various districts of the state/country) under the same ownership has been examined by this office.”

The competent Authority, after examining the issue in depth, has decided that the investments in Plant & Machinery/ Equipments of all enterprises under same ownership shall be clubbed together while assessing the status of MSMEs as per provisions under the MSMED Act, 2006, the notification said. (KNN Bureau)