MSMED Act 2006 Archives

Section 1 of MSMED Act, 2006: Short title and commencement of MSMED Act 2006

Posted by IBC Laws EICon February 20, 2017November 10, 2021in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006[No. 27 of 2006][16th June, 2006] An Act to provide for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises and for matters connected therewith or…

Section 2 of MSMED Act, 2006: Definitions of MSMED Act 2006

Posted by IBC Laws EICon February 19, 2017March 2, 2022in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-I Preliminary Section 2: Definitions. 2. In this Act, unless the context otherwise requires,— (a) “Advisory Committee” means the committee constituted by the Central Government under sub-section (2) of section 7; (b)…

Section 3 of MSMED Act, 2006: Establishment of Board

Posted by IBC Laws EICon February 18, 2017March 2, 2022in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-II National Board for Micro, Small and Medium Enterprises Section 3: Establishment of Board. 3. (1) With effect from such date as the Central Government may, by notification, appoint, there shall…

Section 4 of MSMED Act, 2006: Removal of member from Board

Posted by IBC Laws EICon February 17, 2017March 2, 2022in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-II National Board for Micro, Small and Medium Enterprises Section 4: Removal of member from Board. 4. (1) The Central Government may remove a member of the Board from it, if…

Section 5 of MSMED Act, 2006: Functions of Board

Posted by IBC Laws EICon February 16, 2017March 2, 2022in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-II National Board for Micro, Small and Medium Enterprises Section 5: Functions of Board. 5. The Board shall, subject to the general directions of the Central Government, perform all or any…

Section 6 of MSMED Act, 2006: Powers and functions of Member-Secretary of Board

Posted by IBC Laws EICon February 15, 2017March 2, 2022in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-II National Board for Micro, Small and Medium Enterprises Section 6: Powers and functions of Member-Secretary of Board. 6. Subject to other provisions of this Act, the Member-Secretary of the Board…

Section 7 of MSMED Act, 2006: Classification of enterprises

Posted by IBC Laws EICon February 15, 2017November 10, 2021in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-III Classification of Enterprises, Advisory Committee and Memorandum of Micro, Small And Medium Enterprises Section 7: Classification of enterprises. 7. (1) Notwithstanding anything contained in section 11B of the Industries (Development…

Section 8 of MSMED Act, 2006: Memorandum of micro, small and medium enterprises

Posted by IBC Laws EICon February 13, 2017March 2, 2022in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-III Classification of Enterprises, Advisory Committee and Memorandum of Micro, Small And Medium Enterprises Section 8: Memorandum of micro, small and medium enterprises. 8. (1) Any person who intends to establish,—…

Section 9 of MSMED Act, 2006: Measures for promotion and development

Posted by IBC Laws EICon February 13, 2017March 2, 2022in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-IV Measures for Promotion, Development and Enhancement of Competitiveness of Micro, Small and Medium Enterprises Section 9: Measures for promotion and development. 9. The Central Government may, from time to time,…

Section 10 of MSMED Act, 2006: Credit facilities

Posted by IBC Laws EICon February 12, 2017March 2, 2022in MSMED Act 2006

The Micro, Small and Medium Enterprises Development Act, 2006 Chapter-IV Measures for Promotion, Development and Enhancement of Competitiveness of Micro, Small and Medium Enterprises Section 10: Credit facilities. 10. The policies and practices in respect of credit to the micro,…

Chapter	Topic	Content
CH-2: General & Definitions
		Short Note on Insolvency and Bankruptcy Code, 2016 (IBC, 2016)
		Dispute and Existence of a Dispute
		Operational Debt and Operational Creditor
		Persons who may initiate Corporate Insolvency Resolution Process(CIRP)
		Analysis provisions of Limitation Act, 1963 with respect to Insolvency and Bankruptcy Code, 2016
CH-3: CIRP
	Topic-1 : CIRP Application & Withdrawal
		Analysis of Minimum amount of default under Section 4 of IBC
		Procedure of filing application by Financial Creditor before NCLT under Section 7 of the IBC
		Procedure of filing application by Operational Creditor before NCLT under Section 8 & 9 of the IBC
		Initiation of CIRP by corporate applicant under Section 10 of the IBC
		Analysis of withdrawal of CIRP proceeding pursuant to settlement under Section 12A of Insolvency and Bankruptcy Code, 2016 (IBC)
	Topic-2 : Declaration of moratorium and public announcement
		Declaration of moratorium and public announcement [Section 13, 14 & 15 of the IBC]
		All about the Moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 including judicial pronouncements
	Topic-3 : Appointment and tenure of IRP & RP
		Appointment and tenure of Interim Resolution Professional and Resolution Professional [Section 16, 22 & 27 of the IBC]
		Role of an Interim Resolution Professional and Resolution Professional
	Topic-4 : Management of affairs by IRP
	Topic-5 : Receive and collate all the claims submitted by creditors
	Topic-6 : Committee of creditors and meetings
		Constitution of Committee of Creditors under Section 21 of IBC
		Role of Committee of Creditors & It’s Commercial Wisdom
		Analysis of provisions on Authorised Representative under IBC
		Meetings & Voting of the Committee of Creditors under Section 24 of the IBC
	Topic-7 : RP to conduct the CIRP and manage the operations
		Resolution Professional to conduct the CIRP and manage the operations of the Corporate Debtor
		Insolvency Resolution Process Costs & Essential supplies
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-8 : CIRP and Resolution Plan
		Information Memorandum, Expression of Interest, Request for Resolution Plans & Resolution Plans
		Role of the prospective resolution applicant
		Persons not eligible to be Resolution Applicant [Sec. 29A of IBC]
		Submission and approval of the Resolution Plan
		Liability for prior offences under Section 32A of the IBC
CH-4 : Liquidation Process
	Topic-1 : Initiation of Liquidation
	Topic-2 : Appointment & Remuneration of Liquidator
		Appointment & Remuneration of Liquidator under Sec. 34 of IBC
		Powers and duties of Liquidator under Sec. 35, 37 of IBC
	Topic-3: Liquidation Estate
	Topic-4: Public announcement, Preliminary report, Early dissolution and Progress reports under Liquidation
	Topic-5: Claims under Liquidation
	Topic-6: Preferential, undervalued and Extortionate Credit Transactions
		Preferential, Undervalued and Extortionate Credit Transactions under Sec. 43, 44, 45, 46, 47, 48, 49, 50, 51 of IBC
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-7: Secured Creditor in Liquidation Proceedings
	Topic-8: Realisation of Assets in Liquidation Proceedings
	Topic-9: Proceeds of Liquidation and Distribution of Proceeds
CH-5 : Personal Guarantor
		Chapter VIII Indemnity and Guarantee of Indian Contract Act, 1872
		All about Personal Guarantor under IBC Part-I
		All about Personal Guarantor under IBC Part-II
		Insolvency Resolution Process Regulation
		Bankruptcy Process for PG Regulation
		IRP Application to AA Rules
		Bankruptcy Process Application to AA Rules