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Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Preamble 1

Title: Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993

State: Central

Year: 1993

THE INTEREST ON DELAYED PAYMENTS TO SMALL SCALE AND ANCILLARY INDUSTRIAL UNDERTAKINGS ACT, 1993 [Act, No. 32 of 1993] [2nd April, 1993] PREAMBLE An Act to provide for and regulate the payment of interest on delayed Payments to small scale and ancillary industrial undertakings and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Forty-fourth Year of the Republic of India as follows:--

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Complete Act

Title: Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993

State: Central

Year: 1993

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

Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 Complete Act

State: Central

Year: 1993

.....to such dispute as if the arbitration or conciliation were pursuant to an arbitration agreement referred to in subsection (1) of Section 7 of that Act." ] SECTION 06: LIABILITY OF BUYER TO PAY COMPOUND INTEREST 4 SECTION 07: APPEAL No appeal against any decree, award or other order shall be entertained by any Court or other authority unless the appellant (not being a supplier) has deposited with it seventy-five per cent of the amount interms of the decree, award or, as the case may be, other order in the manner directed by such Court or, as the case may be, such authority. SECTION 07A: ESTABLISHMENT OF INDUSTRY FACILITATION COUNCIL 6The State Government may, by notification in the Official Gazette, establish one or more Industry Facilitation Councils at such places exercising such jurisdiction and for such areas, as may be specified in the notification. SECTION 07B: COMPOSITION OF INDUSTRY FACILITATION COUNCIL 7 (1) The Industry Facilitation Council shall consist of one or more members to be appointed from amongst the following categories:- (i) Director of Industries by whatever name called or any other officer not below the rank of such Director, of the State Government; (ii).....

Payment of Wages Act, 1936 Section 15

Title: Claims Arising out of Deductions from Wages or Delay in Payment of Wages and Penalty for Malicious or Vexatious Claims

State: Central

Year: 1936

.....special order, provide for the distribution or allocation of work to be performed by them under this Act.]] ____________________ * Inserted by Act 53 of 1964, section 13 w.e.f. 1-2-1965. ** Substituted by Act 53 of 1964, section 13, for "of persons employed or paid in that area" w.e.f. 1-2-1965. 2. Substituted by Act 53 of 1964, section 13, for "six months" w.e.f. 1-2-1965. 3. Substituted vide Payment of Wages (Amendment) Act, 2005. Previous text was When any application under sub-section (2) is entertained, the authority shall hear the applicant and the employer or other person responsible for the payment of wages under section 3, or give them an opportunity of being heard, and, after such further inquiry (if any) as may be necessary, may, without prejudice to any other penalty to which such employer or other person is liable under this Act, direct the refund to the employed person of the amount deducted, or the payment of the delayed wages, together with the payment of such compensation as the authority may think fit, not exceeding ten times the amount deducted in the former case and *[not exceeding twenty-five rupees in the latter, and even if the amount deducted.....

Merchant Shipping Act, 1958 Section 279

Title: Compensation for Delay in Sailing

State: Central

Year: 1958

.....be refunded to the master, owner or agent any amount allowed to him by such decision. (5) On the failure of any pilgrim ship to proceed from any port or place on the date advertised under 1[clause (b) of sub-section (5) of section 255] as the date of final sailing there from, the pilgrim officer at that port or place shall forthwith give notice of such failure to the officer authorised to grant port clearance to ships thereat, and such officer shall refuse port clearance to the pilgrim ship until the master, owner or agent produces to him a certificate of the pilgrim officer that all sums payable by way of compensation under this section up to the day on which the ship is to proceed have been paid. ________________________ 1. Substituted for the words brackets, letter and figure "clause (b) of sub-section (3) of section 278" by the Merchant Shipping (Amendment) Act, 1976 (69 of 1976), Section 18 (1-12-1976). 2. Substituted for the words "Presidency magistrate or a magistrate of the first class" by Merchant Shipping (Amendment) Act, 1983 (12 of 1983), Section 17 and the Schedule hem 9 (18-5-1983).

Negotiable Instruments Act, 1881 Section 75A

Title: Excuse for Delay in Presentment for Acceptance or Payment

State: Central

Year: 1881

1 [A. Excuse for delay inpresentment for acceptance or payment Delay in presentment 2 [for acceptance orpayment] is excused if the delay is caused by circumstances beyond the controlof the holder, and not imputable to his default, misconduct ornegligence. When the cause of delay ceases to operate, presentment must be madewithin a reasonable time.] _____________________ 1. Inserted25 of , sec. . 2 .12 of , sec. , for "forpayment".

Companies Act, 1956 Section 637B

Title: Condonation of Delays in Certain Cases

State: Central

Year: 1956

1 [637B. Condonation of delays in certain cases Notwithstanding anything contained in this Act,- (a) where any application required to be made to the Central Government under any provision of this Act in respect of any matter is not made within the time specified therein that Government may, for reasons to be recorded in writing, condone the delay; (b) where any document required to be filed with the Registrar under any provision of this Act is not filed within the time specified therein, the Central Government may, for reasons to be recorded in writing, condone the delay.] _________________________ 1. Inserted by Act 31 of 1965, Section 59 (w.e.f. 15-10-1965).

Oriental Gas Company Act ,1857 Section 7

Title: In Case of Delay, Other Parties May Reinstate, and Recover the Expenses

State: Central

Year: 1857

If any such delay or omission as aforesaid take place, the persons having the control or management of the street, bridge, sewer, drain, or tunnel, in respect of which such delay or omission shall take place, may cause the work so delayed or omitted to be executed ; and the expense of executing the same shall be repaid to such persons by the said Company ; and the amount of such expense shall, in case of any dispute about the same, be ascertained and recovered in Calcutta and in any other town or place subject to the jurisdiction of any of Her Majesty's Courts of Judicature, in the manner in which expenses are ascertained and recovered under Act XIV of 1856 { Rep.by Act 16 of 1874.}, and in town or place not within the Jurisdiction of any of Her Majesty's Courts, in the same manner as damages are recoverable under this Act.(Expense how to be ascertained and recovered.)

Indian Post Office Act, 1898 Section 53

Title: Penalty for Opening, Detaining or Delaying Postal Articles

State: Central

Year: 1898

Whoever, being an officer of the Post Office, contrary to his duty, opens, or causes or suffers to be opened, any postal article in course of transmission by post, or wilfully detains or delays, or causes or suffers to be detained or delayed, any such postal article, shall be punishable with imprisonment for a term which may extend to two years, or with fine or with both: Provided that nothing in this section shall extend to the opening, detaining or delaying of any postal article under the authority of this Act or in obedience to the order in writing of the Central Government or the direction of a competent Court.

Multimodal Transportation of Goods Act, 1993 Section 16

Title: Liability of the Multimodal Transport Operator in Case of Delay in Delivery of Goods Under Certain Circumstances

State: Central

Year: 1993

Where delay in delivery of the consignment occurs under any of the circumstances mentioned in the Explanation to sub-section (1) of section 13, or any consequential loss or damage arises from such delay, then the liability of the multimodal transport operator shall he limited to the freight payable for the consignment so delayed.