Under MSMED Act, 2006
AVI Polymers has submitted the Application under section 18 of The Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 against Hindustan Cables, since the company has not made the payment of outstanding debt towards goods supplied of Rs.5,18,25,722/- comprising of principal amount of Rs.22,74,898/- and interest of Rs.4,95,50,824/- calculated as per section 4 and 5 of the SSI Act, 1993 and section 16 of MSMED Act, 2006 till 31 May 2018 and which shall be further increased till the actual date of payment.Powered by Capital Market - Live News
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