Section 18 of MSMED : Section 18: Reference To Micro And Small Enterprises Facilitation Council

MSMED

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Explanation using Example

Example Application of Section 18 of The Micro, Small and Medium Enterprises Development Act, 2006

Imagine that 'QuickTools Pvt. Ltd.' is a small enterprise that manufactures hardware tools and has supplied a batch of equipment to 'BuildMax Constructions', a large construction company. However, 'BuildMax Constructions' has delayed payment beyond the agreed-upon credit period, resulting in a dispute over the amount due.

'QuickTools Pvt. Ltd.' decides to take action under Section 18 of The Micro, Small and Medium Enterprises Development Act, 2006. They make a reference to the Micr...

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