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TypeBare Act JurisdictionCentral Government

Micro, Small and Medium Enterprises Development Act, 2006 Section 16

Date from Which and Rate at Which Interest is Payable

~1 min read
https://sooperkanoon.com/act/22192

Bare act section · Research

About this section

Micro, Small and Medium Enterprises Development Act, 2006 Section 16 is part of Micro, Small and Medium Enterprises Development Act, 2006 - Date from Which and Rate at Which Interest is Payable. Read the section text below and explore Indian court judgments that cite it.

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Section Text

Where any buyer fails to make payment of the amount to thesupplier, as required under section 15, the buyer shall, notwithstandinganything contained in any agreement between the buyer and the supplier or in anylaw for the time being in force, be liable to pay compound interest with monthlyrests to the supplier on that amount from the appointed day or, as the case maybe, from the date immediately following the date agreed upon, at three times ofthe bank rate notified by the Reserve Bank.

Frequently asked questions

What does Micro, Small and Medium Enterprises Development Act, 2006 Section 16 provide?

Section Section 16 of the Micro, Small and Medium Enterprises Development Act, 2006 (Date from Which and Rate at Which Interest is Payable) is reproduced on this page as part of the Micro, Small and Medium Enterprises Development Act, 2006. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Micro, Small and Medium Enterprises Development Act, 2006 Section 16?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Micro, Small and Medium Enterprises Development Act, 2006 Section 16. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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