Bare Acts

The Micro, Small and Medium Enterprises Development Act, 2006

2006 · In force · synced 11 Oct 2026

Not yet verified with the latest version of the bare act.

I — PRELIMINARY

1.Short title and commencement 2.Definitions

II — NATIONAL BOARDFOR MICRO, SMALLAND MEDIUM ENTERPRISES

3.Establishment of Board 4.Removal of member from Board 5.Functions of Board 6.Powers and functions of Member-Secretary of Board

III — CLASSIFICATION OF ENTERPRISES, ADVISORY COMMITTEE AND MEMORANDUM OF MICRO, SMALL AND MEDIUM ENTERPRISES

7.Classification of enterprises 8.Memorandum of micro, small and medium enterprises

IV — MEASURES FOR PROMOTION, DEVELOPMENT AND ENHANCEMENT OF COMPETITIVENESS OF MICRO, SMALL AND MEDIUM ENTERPRISES

9.Measures for promotion and development 10.Credit facilities 11.Procurement preference policy 12.Funds 13.Grants by Central Government 14.Administration and utilisation of Fund or Funds

V — DELAYED PAYMENTS TO MICRO AND SMALL ENTERPRISES

15.Liability of buyer to make payment 16.Date from which and rate at which interest is payable 17.Recovery of amount due 18.Reference to Micro and Small EnterprisesFacilitation Council 19.Application for setting aside decree, award or order 20.Establishment of Micro and Small Enterprises Facilitation Council 21.Composition of Micro and Small Enterprises Facilitation Council 22.Requirement to specify unpaid amount with interest in the annual statement of accounts 23.Interest not to be allowed as deduction from income 24.Overriding effect 25.Scheme for closure of business of micro, small and medium enterprises

VI — MISCELLANEOUS

26.Appointment of officers and other employees 27.Penalty for contravention of section 8 or section 22 or section 26 28.Jurisdiction of courts 29.Power to make rules 30.Power to make rules by State Government 31.Power to remove difficulties 32.Repeal of Act 32 of 1993

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