NEED TO DISCLOSE AMT O/S TO MICRO, SSE & MSE VENDORS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2011
It would be very kind of the person(s) answering this question:
Is there any mandatory requirement for a public ltd. co. (listed) to obtain confirmation from Micro, Small Scale & Medium Scale Enterprise vendors regarding payment outstanding to such vendors and disclose the same separately in the annual accounts?
If it is mandatory under any act, then the consequence of not complying with the same?
Thanking the person(s) answering my query.
Is there any mandatory requirement for a public ltd. co. (listed) to obtain confirmation from Micro, Small Scale & Medium Scale Enterprise vendors regarding payment outstanding to such vendors and disclose the same separately in the annual accounts?
If it is mandatory under any act, then the consequence of not complying with the same?
Thanking the person(s) answering my query.
03 March 2011
Yes. It is manadatory to outstanding balance to MSME's in the balance sheet for ALL Companies. In case the Company is not showing such balance you can complain,
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 March 2011
Thank you very much for replying to my query.
If you can kindly refer to the relevant act(s) and section(s) to prepare my complaint and take necessary actions according to the procedures laid down there under.
I was referring to 'THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006'.
If you can kindly refer to the relevant act(s) and section(s) to prepare my complaint and take necessary actions according to the procedures laid down there under.
I was referring to 'THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006'.
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