NDTV·2 min read·medium
Lok Sabha Passes MSME Bill To Tackle Payment Delays, Speed Up Disputes
✦AI Summary
The Lok Sabha has passed a new MSME bill designed to expedite dispute resolution and ensure timely payments. The legislation mandates mediation timelines and requires partial payment of disputed amounts during appeals.
It mandates that in the case of disputes mediation must be completed within 90 days and requires courts to release at least 50 per cent of disputed awarded amounts to MSMEs if an appeal lingers past six months.
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