RateCut (India): The Micro, Small and Medium Enterprises Development Act, 2006

As you would be aware The Micro, Small and Medium Enterprises Development Act, 2006 (‘Act’) has been introduced with effect from June 16, 2006. The Act casts certain responsibilities on ...

Is the letter displayed incorrectly? See web-version!   Admitad News  |  Admitad's Life  |  All Programs   Hello! As you would be aware The Micro, Small and Medium Enterprises Development Act, 2006 (‘Act’) has been introduced with effect from June 16, 2006. The Act casts certain responsibilities on the Companies making payments to Micro, Small and Medium Enterprises. In this connection, we request you to please confirm whether you company falls under the category of Micro/ Small/ Medium enterprise under the Section 7 (1) (a) & (b) of the Micro, Small and Medium Enterprises Development Act. Definition of Micro, Small and Medium Enterprises under Section 7 (1) (a) & (b) is given below for your reference (as Annexure -1). In case of non-receipt of reply within 15 days; we will assume that the entity will not fall under the MSMED category. Please feel free to revert in case you need further clarification.   Annexure 1:  Definition of Micro, Small and Medium Enterprises under Section 7 (1) (a) & (b) Classification of Enterprises In the case of the enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the Industries (Development and Regulation) Act, 1951, as - a) a micro enterprise, where the investment in plant and machinery does not exceed twenty five lakh rupees; b) a small enterprise, where the investment in plant and machinery is more than twenty five lakh rupees but does not exceed five crore rupees; or c) a medium enterprise, where the investment in plant and machinery is more than five crore rupees but does not exceed ten crore rupees; In the case of the enterprises engaged in providing or rendering of services, as - a) a micro enterprise, where the investment in equipment does not exceed ten lakh rupees; b) a small enterprise, where the investment in equipment is more than ten lakh rupees but does not exceed two crore rupees; or c) a medium enterprise, where the investment in equipment is more than two crore rupees but does not exceed five crore rupees Note: Confirmation may be forwarded to finance.in@admitad.com   Kind regards, your affiliate network Admitad   Admitad Blog     Twitter     Facebook     RSS News You have received this letter because you are signed up on Admitad.com. Change notifications settings orunsubscribe from all letters.