In News: MSME Samadhaan is an online portal where MSMEs can file their applications online regarding delayed payments.
About MSME Samadhaan
- The application can be made by the supplier MSE unit against the buyer of goods/services before the concerned Micro & Small Enterprises Facilitation Council (MSEFC) of his/her state or union territory.
- The portal has been developed by the Ministry of MSME. However, it does not take action on the applications filed on the MSME Samadhaan portal directly. It only forwards these applications to the concerned MSEFC. It is the MSEFC that takes appropriate action in this regard. The MSEFC will also consider physical applications and the portal is only an option.
- To file on the MSME Samadhan portal, it is mandatory for the business to have an Udyog Aadhar Memorandum. o The enterprise should also keep a record of all formal purchase orders from customers and delivery proofs for all orders.
- The issue of delayed payments to MSME was addressed in the Micro, Small and Medium Enterprise Development (MSMED) Act, 2006.
MSME Samadhaan Portal Features
- MSMEs can file online applications on the portal for delayed payments.
- They can check the status of their applications on the portal.
- The website will provide information about the pending payment of MSMEs with individual CPSEs/Central Ministries, State Governments, etc. The CEO of PSEs and the Secretary of the Ministries concerned will also be able to monitor the cases of delayed payment under their jurisdiction and issue necessary instructions to resolve the issues.
MSMED Act, 2006
- The MSMED Act has provisions to deal with cases of delayed payments to micro, small and medium enterprises.
- Under this Act, state governments should establish Micro and Small Enterprise Facilitation Councils (MSEFC) for settling disputes related to delayed payments on getting the application from concerned parties.
- Under the provisions of the Act, the buyer is liable to pay compound interest with monthly rests to the supplier on the amount at thrice the bank rate notified by the RBI in case he does not make payment to the supplier for the supplies within 45 days of the day of acceptance of the goods/service or the deemed day of acceptance.
- The MSEFC should decide the case within ninety days of getting the reference