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14/08/2020 01:00pm

Over 50000 cases of delayed payment filed by Micro & Small Enterprises in MSEFCs

image Over 50000 cases of delayed payment filed by Micro & Small Enterprises in MSEFCs

New Delhi, Aug 14 (KNN) Nearly, 51,235 applications filed by micro and small enterprises (MSE) to Micro and Small Enterprise Facilitation Councils (MSEFC) worth Rs 14954.64 crore of which 3637 applications have been disposed by the council worth Rs 674.54, according to government data.

The data further revealed that around 8470 applications involving Rs 1831.05 crore payable have been rejected at the time of filing this report.

As per the data available on delayed payments monitoring portal MSME Sambandh, Rs 14954.64 crore have been delayed by buyers including central ministries, departments, PSUs, railways, ordnance factory, state governments and PSUs, MSME units, individual firms, and proprietorships, apart from other categories.

MSEFCs were set-up by the government for settling disputes on delayed payments filed by MSEs. After the applications are received, they are sent to be examined by the respective MSEFC of the state/district. For relevant applications, the buyers are directed to pay the amount along with the interest for failing to pay the amount within 45 days of acceptance of goods bought from MSEs. The council has to decide upon the application within 90 days from the date of making such a reference as per provisions laid in the MSME Act.

Moreover, 4,397 applications filed were for mutual settlement between buyers and sellers worth Rs 681.28 crore.

A few days back, MSME Minister Nitin Gadkari had also urged chief ministers of all states earlier this week to ask their state or union territory ministries and departments along with public sector units to clear on priority.

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