agreement" in sub-section (1) of Section
18 , which otherwise finds mention in Section 16 of the MSMED Act, 2006
implies that the arbitration ... Section 18 read with Section 24 of the MSMED Act, 2006. As held
earlier, the provisions contained in Chapter V of the MSMED
agreement" in sub-section (1) of Section
18 , which otherwise finds mention in Section 16 of the MSMED Act, 2006
implies that the arbitration ... Section 18 read with Section 24 of the MSMED Act, 2006. As held
earlier, the provisions contained in Chapter V of the MSMED
benefit of section
16 is applicable only where arbitration is conducted institutionally under
section 18 of the MSMED Act. As the present arbitration ... Small Enterprises Facilitation Council under section 18 of MSMED Act.
45. Section 18 (1) of the MSMED Act uses the phrase that ―any party
with interest thereon as
provided under section 16 ."
29. A plain reading of Section 15 of the MSMED Act makes it
mandatory ... obligation to discharge its
liability under Section 15 of the MSMED Act and to pay interest under
Section 16 of the MSMED Act confers
accrue to claim interest in terms
of Section 15 and 16 , invocation of Section 18 by the MSMED
FAO(OS) (COMM) 23/2022 Page 16 ... interest is made by the supplier by resort
to Section 16 . Section 16 vests rights in the supplier to claim interest in
terms thereof
amount of interest
thereon as provided in section 16 . Section 16 of the
MSMED Act says that where a buyer fails to make
payment ... section (1) of
section 8 of the MSMED Act and accordingly has employed
the expression "supplier" in sections 15 , 16
U/s 34 of the Act. Being
a registered small scale industry, it is entitled to interest as
provided U/s 16 of MSMED ... provisions of the Arbitration and
Conciliation Act . Sec.18 of MSMED Act is merely procedural,
whereas Sec.16 confers substantive right on a small scale
Therefore, the interest as calculated by the
Petitioner under Section 16 of MSMED Act and
submitted as Claim No. 2, should have been
awarded ... granted Claim No. 2, which the
Petitioner had claimed under Section 16 of MSMED
Act, 2006. Hence, this petition.
(d) The Learned Arbitrator erred
interest as per RBI guidelines in accordance with provisions of
Sec.16 MSMED Act, 2006 per annum on the Award Amount ... interest as per RBI
guidelines in accordance with provisions of Sec. 16 MSMED
Act, 2006 per annum on the Award Amount
Sections 7 to 9 ; Chapter-III contains Sections 10 to 15 ; Chapter-IV has Sections 16 and 17 ; Chapter-V has Sections ... sections in Section 18 which commences with non-obstante clause.
35. First of all Sub-section (1) of Section 18 commences with non-obstante clause
