MSME cases worth Rs 51 lakh settled in district level facilitation council meeting

Ludhiana, Oct 3 (KNN) Cases worth Rs 51 lakh has been settled down in a district level meeting of Micro, Small and Medium Enterprises (MSME) facilitation council.

Four cases worth Rs 51 lakh amount were settled and 37 cases were listed for conciliation proceeding and another 26 cases were put for arbitration in the meeting held on Tuesday.

The meeting was presided by additional deputy commissioner (Jagraon) Neeru Katyal Gupta.

Speaking after the meeting ADC Gupta informed, “Till date since November 2018, 84 cases of around Rs 12 crore dispute/claimed amount have already been settled by the council. As per the provisions MSME Development act 2006, the Punjab government has established district-level Micro Small Enterprises Facilitation Councils in five main districts of the state along with Chandigarh.''

''The main aim of this council is the redressal of issues related to delayed payments of Industrialists as per the provisions of the act,'' she added.

“Stakeholders have to first apply on Samadhan online portal, after which the council tries to resolve these issues through conciliation proceedings with the approval of both the parties. In case the issue is not resolved through the conciliation proceedings, then the conciliation is terminated and the issue is resolve through arbitration,'' she further added.

ADC also informed that no fee is charged for filing petition in this council, and there is no need to hire a lawyer. She informed that the industrialists can contact this council for summoning their venders anywhere in the country for the redressal of their issues.

---------------------