Act Info:
Preamble1 - INTEREST ON DELAYED PAYMENTS TO SMALL SCALE AND ANCILLARY INDUSTRIAL UNDERTAKINGS ACT, 1993
Section1 - Short title, extent and commencement
Section2 - Definitions
Section3 - Liability of buyer to make payment
Section4 - Date from which and rate at which interest is payable
Section5 - Liability of buyer to pay compound interest
Section6 - Recovery of amount due
Section7 - Appeal
Section7A - Establishment of Industry Facilitation Council
Section7B - Composition of Industry Facilitation Council
Section7C - Laying of rules before State Legislature
Section8 - Requirement to specify unpaid amount with interest in the annual statement of accounts
Section9 - Interest not to be allowed as deduction from income
Section10 - Over-riding effect
Section11 - Repeal and saving