Need a small help regarding the mandatory 75% deposit under MSMED Act, 2006. MSMEF council terminated the conciliation proceeding and initiated arbitration, but no settlement agreement or any declaration has been made. Now if i file any appeal is there any judgement/order that i can produce to get a stay on the deposit?
First of all the award needs to be passed and thereafter you can challenge the same. There are no judgments in this respect but one can approach the high court for such direction's but it may be a futile effort.