MSMED ACT 2006 - ODR

MSMED Act, 2006 covering enterprise classification, promotion and delayed payments to micro and small enterprises.

About Dataset

The core MSME statute. It establishes the National Board, classifies enterprises, requires memoranda, and provides credit, procurement preference and funds. Chapter V governs delayed payments: buyer liability within the agreed period or forty-five days, compound interest at three times the bank rate, reference to the Facilitation Council, ninety-day decision, and seventy-five percent deposit before challenge.

Purpose of Dataset

Provides the AI with the primary legal basis for delayed-payment disputes, helping calculate interest, apply deadlines, identify the Council's role and guide negotiation and evidence.