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    <title>APPLICATION OF LIMITATION TO THE ARBITRATION UNDER MICRO, SMALL AND MEDIUM ENTERPRISES ACT</title>
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    <description>Conciliation under Section 18(2) of the MSME Act is not rendered subject to the Limitation Act and may produce a contractual settlement to recover time-barred claims, while arbitration under Section 18(3) is deemed equivalent to arbitration pursuant to an arbitration agreement and thereby attracts the Limitation Act by application of the Arbitration and Conciliation Act as incorporated by the MSME statute.</description>
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      <description>Conciliation under Section 18(2) of the MSME Act is not rendered subject to the Limitation Act and may produce a contractual settlement to recover time-barred claims, while arbitration under Section 18(3) is deemed equivalent to arbitration pursuant to an arbitration agreement and thereby attracts the Limitation Act by application of the Arbitration and Conciliation Act as incorporated by the MSME statute.</description>
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