Ananya Madhusudan

2 months ago | mondaq.com | Siddharth Suresh |Prateek Singh |Ananya Madhusudan

The Micro, Small and Medium Enterprises Development Act, 2006("MSME Act") was introduced with the aimof developing and promoting micro, small and medium enterprises("MSME"). MSMEs play a pivotal role indriving employment generation and making substantial contributionsto the gross domestic product of the Indian economy. However, theirgrowth is frequently hindered by a recurring issue with respect tothe recovery of dues from its clients.