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Jayanta Bandyopadhyay 05 May 2025

Treds platform and mca

Whether onboarding on TReDS platform requires a prior approval of lending bank by chargeholder and reporting to MCA

2 Replies

R.K Nanda (Advocate) 05 May 2025

State full facts to get proper reply.your Question contains many abbreviations and thus write their full form.

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 05 May 2025

To answer your question: *Prior Approval of Lending Bank* -

Generally, prior approval from the lending bank is not explicitly required for onboarding on the TReDS platform.

However, the specific requirements may vary depending on the platform and the lender.

*Reporting to MCA* - The TReDS platform itself doesn't directly require reporting to the Ministry of Corporate Affairs (MCA).

However, corporates with a turnover of ₹250 crores or more are mandated to comply with the MSME Act, which includes paying MSME suppliers within 45 days.

The TReDS platform helps corporates comply with this requirement.

*Onboarding Process* - The onboarding process typically involves: - *Registration*: Registering with a TReDS platform, such as M1xchange. -

*Documentation*: Providing necessary documentation, such as invoices and buyer details. -

*Verification*: Verifying the authenticity of invoices and buyer acceptance. It's recommended to consult with a financial advisor or a legal expert to understand the specific requirements and implications of onboarding on the TReDS platform for your business.

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