1. See for MSME there is certificate and number granted to the firm only so there is no portal for same to search for MSME companies/firms.

2.They can issue demand notice either in respect of IBC if yours is a company or they can file before the MSME council for the recovery.

3.The terms of contract can be there between and you and vendor.

4. If you are company they can for IBC and MSME council for recovery no criminal action,

MSME registration certificate would prove that vendor is registered as MSME  or not 

2) Section 15 of the Act states that where the supplier supplies goods or renders any services to any buyer, then the buyer shall make payment on or before the date mentioned in the agreement and, if there is no agreement, then before the appointed date. The proviso to this Section states that the period of credit given by the seller shall not exceed 45 days from the day of acceptance or from the date of deemed acceptance.

3)Further, as per Section 16 of the Act, if a buyer fails to make the payment within the stipulated date, it will be liable to pay compound interest with monthly rests on the outstanding amount additionally. The interest shall be calculated from the appointed date at three times of the bank rate notified by the RBI. However, in case of any dispute regarding the payment of principal/interest between the supplier and the borrower, reference shall have to be made to the Micro and Small Enterprises Facilitation Council (MSEFC), constituted by the respective state governments. 

4) 

• The principal amount and the interest due thereon remaining unpaid to the supplier till the appointed date;

• The amount of interest paid by the buyer on account of delayed payments;

• The principal amount and interest due beyond the appointed date for the period of delay;

• The amount of interest accrued and remained unpaid at the end of each year;

• The amount of further interests remaining due and payable even in succeeding years, until such date when the interest due is actually paid to the MSMEs

5)all companies who buy goods or avail services from micro and small enterprises and whose payments to such suppliers have exceeded 45 days shall submit a half yearly return to the ministry of corporate affairs (MCA) stating the outstanding amount and the reasons for delay. 

6) MSME can file criminal case against you for cheating if you fail to pay its dues 

You can find out the same on their website about the msme nature of company. Yes interest is applicable in certain categories of loan

1. you have accepted the goods/availed services from the vendor and now you have withheld the payment to the vendor on the ground that you have certain apprehension whether the vendor is a registered MSME vendor or not

2. this ground is not a valid ground to withhold the payment of the vendor

3. you should have done proper due diligence before accepting goods or availing services from the vendor to ascertain whether the vendor is registered as a MSME vendor

4. now that you have already accepted the goods/availed services and have not cleared dues of the vendor within the credit period of 45 days, you have made yourself liable both under civil as well as criminal law

5. the vendor can file a summary suit against you for recovering the admitted amount due from you to vendor

6. the vendor can also file a NCLT petition against you for initiating insolvency resolution process against you 

7. in addition the vendor can also file a criminal complaint against you with the police or magistrate 

Dear Sir,

You can write a letter to get list of MSME recognised business enterpruners or send a list of your own business concerns and enquire whether they are recognised by MSME.  Nothing will happen if you do not comply 45 days credit felicities at the most they may issue a simple notice. It is very difficult to get back the amount given on credit.  Better search MSME website of different States and order passed by different MSME authorities to get an idea.

Dear Client,

You can check on https://udyogaadhaar.gov.in/UA/UA_VerifyUAM.aspx  .

If payment not paid in given time than payable with interest.

In no case credit period can be extend more than 45 days , if vendor do no file complain than it can be longer by mutual understanding. 

IF interest not paid, attachment of assets and auction.

Hi 

1) The Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 contains provisions of Delayed Payment to Micro and Small Enterprise (MSEs). (Section 15- 24). State Governments to establish Micro and Small Enterprise Facilitation Council (MSEFC) for settlement of disputes on getting references/filing on Delayed payments. (Section 20 and 21)

2)  You will be liable to pay compound interest with the monthly rests to the supplier on the amount at the three times of the bank rate notified by RBI in case you do  not make payment to the supplier for his supplies of goods or services within 45 days of the acceptance of the goods/service rendered. (Section 16)

3) Only enterprises (Any Micro or small enterprise) having valid Udyog Aadhar(UAM) are eligible to avail the provisions of MSMED Act. So  you should ask your suppliers to provide you with UAM at the time of vendor registration itself. 

4) Even if the vendor agrees for payments beyond 45 days, the same is not valid given that MSMED act expressly directs for payments within 45 days from the date of acceptance of goods/services rendered. 

5) MSMED only specifies that the customer  is liable to pay compound interest with monthly rests to the supplier on the amount at the three times the bank rate notified by RBI for payments delayed beyond 45 days. No criminal or civil punishments have been prescribed under the said MSMED act for delayed payments. 

6) However you should be aware that we are seeing traction in supplier's filing summary suit under Order 37 CPC or as an operational creditor under Section 9 of Insolvency and Bankruptcy code 2016 for payments delayed beyond 180 days of the due date to recover their monies. 

Hope this information is useful. 

1. You can always demand the authentic documents from the vendor to prove their MSME status and after verification and found them to be genuine you may proceed, or you can get into the official website to confirm the information.

2. With the enactment of the Micro, Small and Medium Enterprises Development (MSMED), Act 2006, for the goods and services supplied by the MSEME units, payments have to be made by the buyers as under:·         The buyer is to make payment on or before the date agreed on between him and the supplier in writing or, in case of no agreement, before the appointed day. The agreement between seller and buyer shall not exceed more than 45 days.·         If the buyer fails to make payment of the amount to the supplier, he shall be liable to pay compound interest with monthly rests to the supplier on the amount from the appointed day or, on the date agreed on, at three times of the Bank Rate notified by Reserve Bank.·         For any goods supplied or services rendered by the supplier, the buyer shall be liable to pay the interest as advised at above.·         In case of dispute with regard to any amount due, a reference shall be made to the Micro and Small Enterprises Facilitation Council, constituted by the respective State Government.

3. To take care of the payment obligations of large corporate borrowers to MSEs, banks have been advised that while sanctioning/renewing credit limits to their large corporate borrowers (i.e. borrowers enjoying working capital limits of Rs. 10 crore and above from the banking system), to fix separate sub-limits, within the overall limits, specifically for meeting payment obligations in respect of purchases from MSEs either on cash basis or on bill basis.  A debt restructuring mechanism for units in MSME sector has been formulated and advised to all commercial banks. The detailed guidelines have been issued to ensure restructuring of debt of all eligible small and medium enterprises. Prudential guidelines on restructuring of advances have also been issued which harmony the prudential norms over all categories of debt restructuring mechanisms (other than those restructured on account of natural calamities). 

4.  If the buyer fails to make payment of the amount to the supplier, he shall be liable to pay compound interest with monthly rests to the supplier on the amount from the appointed day or, on the date agreed on, at three times of the Bank Rate notified by Reserve Bank.·         For any goods supplied or services rendered by the supplier, the buyer shall be liable to pay the interest as advised at above.·         In case of dispute with regard to any amount due, a reference shall be made to the Micro and Small Enterprises Facilitation Council, constituted by the respective State Government.