MSMED Act 2006 Vs The 1996 Arbitration and Conciliation Act. Who Wins?

Ancoraa Resolution08 Aug, 2023Finance

The 2006 MSMED Act supports micro, small, and medium enterprises, promoting their growth. It protects these entities from delayed payments by non-MSME entities. With its enactment, the definition of MSMEs was broadened to include services, and medium enterprises also became eligible for MSME recovery support.