NEED TO DISCLOSE AMT O/S TO MICRO, SSE & MSE VENDORS
Querist : Anonymous
Is there any mandatory requirement for a public ltd. co. (listed) to obtain confirmation from Micro, Small Scale & Medium Scale Enterprise vendors regarding payment outstanding to such vendors and disclose the same separately in the annual accounts?
If it is mandatory under any act, then the consequence of not complying with the same?
Thanking the person(s) answering my query.
Querist : Anonymous
If you can kindly refer to the relevant act(s) and section(s) to prepare my complaint and take necessary actions according to the procedures laid down there under.
I was referring to 'THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006'.
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