2009 (2) TMI 881

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....8 passed by Facilitation Council, Vindyachal Bhawan Bhopal under section 33 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the "Act of 1996"). An application under section 19 of the Micro, Small and Medium Enterprises Development Act, 2006 (hereinafter referred to as the "Act of 2006") read with section 151 of the Civil Procedure Code had been filed seeking exemption/waiver from depositing 75% of awarded amount. Notice had been issued to respondent No. 1 who had preferred objection thereto. During the pendency of the petition respondent No. 1 approached the Collector, Singrauli seeking recovery of ₹ 9,99,693/- along with interest thereon from the petitioner. Recovery Certificate dated 6-1....

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....bmitted that there is no justification in the prayer to grant waiver as provided in section 19 of the Act of 2006. He has further submitted that the proviso to section 19 deals with question whether the deposited amount to be paid to the supplier or not pending disposal of the application to set aside the award or order. The Act of 2006 has been enacted with a view to extend support for the small enterprises so that they are able to grow into medium ones, adopt better and higher levels of technology and achieve higher productivity to remain competitive in a fast globalization area. The Act is intended to provide single legal framework to small and medium enterprise sector. Intention is also to make further improvements as to the Interest o....