According to the MSMED Act sections from 15 to 24, the delayed payments beyond 45 days of the purchase can be filed against buyers by approaching the MSEFC through the MSME Samadhaan portal (http://samadhaan.msme.gov.in/).

The portal was merely created for the MSMEs to contact the MSEFC for filing applications online against buyers.

MSME Samadhaan Features

• Online Application: Any small or micro-businesses with valid UAN can apply online to recover delayed payments.
• Review Status: Now, you can review the status of your application and delayed payments at the portal 24/7.
• Payment Recovery Dashboard: The enterprises can access the information through the Samadhaan portal dashboard about delayed payments with central ministries. In general, the ministry secretaries can access the data to issue required legit instructions to the buyers.

How to File an Application at the MSME Samadhaan Portal

• Click the given link to reach the Samadhaan portal, here – http://samadhaan.msme.gov.in/
• Then, tap on the “Case Filing For Entrepreneurs/MSE Units” in the top menu section of the website. After that, select either Udyog Aadhar Number to apply. Enter the UAN and verify the captcha. Then, you’ll soon receive an OTP to your email that’s registered with the UAN.
• Enter the OTP and continue. Now, click on the “Application Entry” option. Fill in the required details and either file a complaint or application against the buyer. Ensure you keep all the required invoices or documents that act as proof and make payment recoveries soon.
• After submitting all the documents, the MSEFC forwards the application to the concerned buyer and notifies the status of your application.

That’s it. You’re done with it. If you are looking for the best ways to recover payment dues, filing an application at the Samadhaan portal is an ideal choice. Moreover, it gets your work done with a minimal application fee ranging between Rs. 1000 to Rs. 3000.

Takeaways

As discussed earlier, there are two best possible ways to recover delayed payments from concerned buyers. The first way is to take any action based on the MSMED Act and, the next is applying the MSME Samadhaan Portal. The portal resolves the delayed payments issues faster and helps the MSMEs sustain in the market with colossal cash flow and working income.