Msmed act, 2006


Inspite of long heavy pendency with Indian Courts, the offices of Registrars of various High Courts and their sub-ordinate District Courts are casually scrutinizing the petitions/appeals/applications, more particularly, about proper spacing, legibility of annexures (generally Photostats) etc., overlooking basic legal requirement of pre-deposit, particularly, as per Section 19 of The Micro, Small and Medium Enterprises Development Act, 2006 or maybe similarly for some our Special Acts, like Taxation.

Such callousness of the Court-registry adds to the already long daily cause lists of various Courts, thereby not only increasing the load of works but also pendency of cases, which could have been legitimately rejected/refused with the objection of not accompanied with pre-deposit Bank Draft of 75% of Awarded amount.

Such not entertainable cases under section 34 and Appeals under section 37 of The Arbitration & Conciliation Act, 1996, read with section 19 of The MSMED Act, 2006, if objected to before being listed for hearing, can surely help in squeezing usually long case lists and also save MSEs from the unwarranted costs of engaging Advocates for appearing and then, raising the preliminary objection of such mandatory pre-deposit, to be released to the Arbitral Awardee MSE, suffering for non-payment by Buyers, generally of higher corporate stature or Public Sector / Govt. Departments.

 
Reply   
 
ADVOCATE AND CORPORAE ADVISOR

dear learned colleague

Please elighten me on the procedural aspect of 75@ deposit  of awardee amount

thanks

dr vedula gopiath

arbitrator

email vgnath@gmail.com

9866013121

 
Reply   
 



Deposit of 75% of the Awarded amount is a mandatory pre-requisite before filing of any application / appeal against the Award. That can be done by way of Bank Draft in the concerned Court;

Jai Shree Ram !

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








×

  LAWyersclubindia Menu