Notification for mandatory onboarding on TReDS
Notification under the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 for enhancing the scope for mandatory onboarding on TReDS
S.O. 4845(E).—In exercise of powers conferred by section 9 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) and in supersession of the notification of the Government of India, in the Ministry of Micro, Small and Medium Enterprise numbers S.O. 5621(E), dated the 2nd November, 2018 and S.O. 5622(E), dated the 2nd November, 2018, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section(ii), the Central Government hereby issues the following instructions, namely :-
All companies registered under the Companies Act, 2013 (18 of 2013) with a turnover of more than Rs. 250 crore (two hundred and fifty crore rupees) and all Central Public Sector Enterprises shall be required to get themselves onboarded on the Trade Receivables Discounting System platforms, set up as per the notification of the Reserve Bank of India.
- The onboarding process on the Trade Receivables Discounting System platforms shall be completed by 31st March, 2025.
