Skip to main content

The Micro, Small and Medium Enterprises Development Act, 2006

Central

An Act to provide for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises and for matters connected therewith or incidental thereto.

Act number
27 of 2006
Ministry
Ministry of Micro, Small and Medium Enterprises
Enacted
16 Jun 2006

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

32 sections

  1. Section 1Short title and commencement.
  2. Section 2Definitions.
  3. Section 3Establishment of Board.
  4. Section 4Removal of member from Board.
  5. Section 5Functions of Board.
  6. Section 6Powers and functions of Member-Secretary of Board.
  7. Section 7Classification of enterprises.
  8. Section 8Memorandum of micro, small and medium enterprises.
  9. Section 9Measures for promotion and development.
  10. Section 10Credit facilities.
  11. Section 11Procurement preference policy.
  12. Section 12Funds.
  13. Section 13Grants by Central Government.
  14. Section 14Administration and utilisation of Fund or Funds.
  15. Section 15Liability of buyer to make payment.
  16. Section 16Date from which and rate at which interest is payable.
  17. Section 17Recovery of amount due.
  18. Section 18Reference to Micro and small Enterprises Facilitation Council.
  19. Section 19Application for setting aside decree, award or order.
  20. Section 20Establishment of Micro and Small Enterprises Facilitation Council.
  21. Section 21Composition of Micro and Small Enterprises Facilitation Council.
  22. Section 22Requirement to specify unpaid amount with interest in the annual statement of accounts.
  23. Section 23Interest not to be allowed as deduction from income.
  24. Section 24Overriding effect.
  25. Section 25Scheme for closure of business of micro, small and medium enterprises.
  26. Section 26Appointment of Officers and other employees.
  27. Section 27Penalty for contravention of section 8 or section 22 or section 26.
  28. Section 28Jurisdiction of courts.
  29. Section 29Power to make rules.
  30. Section 30Power to make rules by State Government.
  31. Section 31Power to remove difficulties.
  32. Section 32Repeal of Act 32 of 1993.