NEED TO DISCLOSE AMT O/S TO MICRO, SSE & MSE VENDORS

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Querist : Anonymous

Querist : Anonymous (Querist)

02 March 2011 It would be very kind of the person(s) answering this question:

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.

Ashok Asthana

Ashok Asthana (Expert)
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03 March 2011 Yes. It is manadatory to outstanding balance to MSME's in the balance sheet for ALL Companies. In case the Company is not showing such balance you can complain,

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2011 Thank you very much for replying to my query.

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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