Specified companies payment reporting: companies must file half yearly returns on delayed payments to MSE suppliers, stating amount and reasons. Companies that procure from micro and small enterprise suppliers and whose payments exceed forty five days from acceptance must submit a half yearly return to the Ministry of Corporate Affairs stating the amount of payment due and the reasons for the delay; the requirement is imposed under powers of the Companies Act and commences on publication in the Official Gazette.
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Provisions expressly mentioned in the judgment/order text.
Specified companies payment reporting: companies must file half yearly returns on delayed payments to MSE suppliers, stating amount and reasons.
Companies that procure from micro and small enterprise suppliers and whose payments exceed forty five days from acceptance must submit a half yearly return to the Ministry of Corporate Affairs stating the amount of payment due and the reasons for the delay; the requirement is imposed under powers of the Companies Act and commences on publication in the Official Gazette.
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