Seminar on Delayed Payment, MSEFC, Arbitration & TReDS at MSME Development & Facilitation Office, Ahmedabad on Friday 21st July, 2023.
The Gujarat Chamber of Commerce and Industry (GCCI) hosted a seminar focusing on four critical aspects impacting businesses: Delayed Payment, MSEFC, Arbitration, and TReDS. The event brought together industry experts, government officials, and entrepreneurs to share insights and strategies for addressing these crucial issues.
Shri T.K. Solanki explained the crucial provisions related to Delayed Payments under the MSMED Act of 2006, essential for the smooth functioning and growth of MSMEs. Mrs. Charmee Jani from the Office of the Commissioner of MSME, Government of Gujarat, provided information on the functions of the Micro and Small Enterprises Facilitation Council (MSEFC) in the state. She also discussed the process of filing online grievances and addressed common reasons for pending cases, ensuring participants understood the available support and mechanisms.
Mr. Arpit Kacholiya, Director of Four Leaf Clover Pvt. Ltd., stressed the significance of arbitration in MSEFC cases due to its efficiency, confidentiality and faster resolution compared to traditional court litigation. He highlighted that arbitration safeguards sensitive business information and its enforceability of arbitral awards domestically and internationally, promoting a conducive environment for MSME growth and success.
Ms. Riddhi Gupta, SGM Head of Invoicemart, introduced the TReDS platform, which optimizes working capital efficiency for MSMEs. The platform's benefits include timely payments, lower financing costs, transparent transactions and wider access to financing.
The seminar concluded with question-and-answer session where the attendees had the opportunity to clarify any doubts or seek further information.
