Mandatory Registration of Companies on Trade Receivables Discounting System platform. if turnover more than Rs. 500 crore

By | November 3, 2018
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(Last Updated On: November 3, 2018)

Companies with turnover more than Rs. 500 crore to comply with Trade Receivables Discounting System platform. This will enable MSME to access credit from banks based on their receivables

MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES

NOTIFICATION

New Delhi, the 2nd November, 2018

S.O. 5621(E).—In exercise of powers conferred by section 9 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), the Central Government hereby issues the following instructions that all companies registered with the Companies Act, 2013 (18 of 2013) with a turnover of more than Rs. 500 crore (rupees five hundred crore) and all Central Public Sector Enterprises shall be required to get themselves onboarded on the Trade Receivables Discounting System platform, set up as per the notification of the Reserve Bank of India. The Registrar of Companies in each State shall be the competent authority to monitor the compliance of these instructions by companies under its jurisdiction and the Department of Public Enterprises, Government of India shall be the competent authority to monitor the compliance of such instructions by Central Public Sector Enterprises.

[F.No. 16/8/2018-P&G/policy]
RAM MOHAN MISHRA, Addl. Secy. and Development Commissioner

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