Section 6 in The Interest On Delayed Payments To Small Scale And Ancillary Industrial Undertakings Act, 1993
6. Recovery of amount due
.- [(1)] [ Section 6 renumbered as sub-Section (1) thereof and sub-Section (2) inserted by Act 23 of 1998, Section 5 (w.e.f. 10.8.1998).] The amount due from a buyer, together with the amount of interest calculated in accordance with the provisions of sections 4 and 5, shall be recoverable by the supplier from the buyer by way of a suit or other proceeding under any law for the time being in force.(2)[ Notwithstanding anything contained in sub-section (1), any party to a dispute may make a reference to the Industry Facilitation Council for acting as an arbitrator or conciliator in respect of the matters referred to in that sub-section and the provisions of the Arbitration and Conciliation Act, 1996 (26 of 1996) shall apply to such dispute as if the arbitration or conciliation were pursuant to an arbitration agreement referred to in sub-section (1) of section 7 of that Act.] [ Section 6 renumbered as sub-Section (1) thereof and sub-Section (2) inserted by Act 23 of 1998, Section 5 (w.e.f. 10.8.1998).]
