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Compliance of SEBI Directive on Women Director

The requirement of appointment of woman director emanates from Section 149 of Companies Act, 2013. SEBI has mandated that listed companies to appoint one woman director on its board. Companies can appoint any woman as director who is not otherwise

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Non Payment of dues

Posted by Amit


Our firm has supplied engineering goods worth 7. 65 lacs to a Pune based engineering firm. Ours is an SSI unit based on Kolkata. Materials supplied in 3 lots, 35% in July 2015, 35% in September 2015 and 30 % in December 2015. Despite several letters and email reminders for payment they did not reply. Whenever we called, they only assured that payment will be done shortly.

Now their stipulated payment terms was 30 days credit as per order. Since last supply on December it is already over 5 months. Also there no such additional cause of interest for late payment was mentioned in our tax invoice. Only jurisdiction in Kolkata court mentioned.

Few weeks ago they only released 1.5 lacs through RTGS. But still we have more than 6.15 lacs due.

Now our client is a multicrore construction giant and we apprehend to take any legal recourse as it will be cumbersome for our small unit. But we have decided to let go this client as this was our first and last transaction.

However please suggest our stand, what we should do, if we proceed legally?



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Updated on : 28/05/2016 20:28:06

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