Non payment to small scale industries
Nitish Joshi
(Querist) 28 July 2013
This query is : Resolved
Dear Friends,
We are small scale industries registered with NSIC.
We had supplied material to a Pvt Ltd company. Payment terms were 30 days from the date of receipt of goods.
But now that company is not making payment. We have made several reminders but they are not responding.
Its been more than 90 days payment become overdue.
Please suggest the remedies available with us to recover the payment under MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT (MSMED) ACT,2006.
Also please suggest the time that will be taken by court to determine the matter.
Waiting for your kind response.
ajay sethi
(Expert) 28 July 2013
issue legal notice to the company about outstanding dues . file a summary suit for recovery of your dues . in case suit is not contested you would get relief within 6 months . even if suit is contested and you have strong case on merits court will direct them to deposit outstanding dues in court
R.K Nanda
(Expert) 28 July 2013
first send legal notice and demand ur payment.
Nitish Joshi
(Querist) 28 July 2013
Thank you very much sirs.
But what generally happens in court are matters are settled by court in years.
But as we are small scale industries is there any remedy available to us under MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT (MSMED) ACT,2006.?
Waiting for your response sir.
