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MSMED Act is a beneficial legislation for Micro Small & Medium Enterprises and provides that a buyer can also raise counter claims before the statutory arbitrator under the MSMED Act. Moreover, the scope of the Act as stated therein is to the extent that even if there is an agreement for arbitration between the parties, the MSMED Act will have overriding effect.
A quick legal roundup to cover important stories from all High Courts in February 2024
A quick legal roundup to cover important stories from all High Courts this week.
“The purpose of Sections 17 and 18 of the Micro, Small and Medium Enterprises Development Act, 2006, gives the right to a micro, small and medium enterprise to have its disputes adjudicated by approaching the facilitation councils and it cannot be obliterated on account of any other contract to the contrary.”
Jharkhand High Court noticed that the Facilitation Council proceeded with an award, with no record of failure of conciliation or parties going for arbitration.
by Swarnendu Chatterjee† and Dhriti Bole††
Cite as: 2022 SCC OnLine Blog Exp 58
by Sanjeev Kumar* & Anshul Sehgal**