Recovery of Debt Due to MSME 's

Recovery of Debt Due to MSME 's

Micro, small and medium enterprises (MSME) are governed as per the special enactment (Micro, Small And Medium Enterprises Development Act, 2006) which allows MSME units several advantages and safeguards to protect the MSME units to recover their outstanding debts and dues. All though the enactment was promulgated in the year 2006. However, the provisions of this statute are being put to use effectively since past few years to recover the outstanding dues and liabilities by the MSME units. The MSME Act uses the Arbitration And Conciliation Act, 1996 for recovery of outstanding liabilities by MSME units.