competition success review Published this article page no 92 Including the provisions of Part IXA (Producer Companies) of Companies Act 1956 in Companies Act 2013. o This will allow primary producers to organise themselves to gain a maximum profit from the market oriented economy. Penalties have been lowered with regard to all defaults for Small Companies One person Companies Producer Companies and Start Ups. MEASURES ANNOUNCED EXCLUSIVELY FOR MSME SECTOR Overview The MSME sector has been disproportionately affected by the pandemic due to its informal nature. In the light of this various measures have been taken to increase liquidity and provide long term reforms like revised definition of MSMEs. SIGNIFICANT MEASURES ANNOUNCED Subordinate Debt for Stressed MSMEs (Allocation Rs. 20000 crore) This scheme aims to support to stressed MSMEs which have NonPerforming Assets (NPAs). Under the scheme promoters of MSMEs will be given debt from banks which will be infused into the MSMEs as equity. The government will facilitate Rs 20000 crore of subordinate debt to MSMEs. For this purpose it will provide Rs 4000 crore to the Credit Guarantee Fund Trust for Micro and Small Enterprises which will provide partial credit guarantee support to banks providing credit under the scheme. Close to two lakh MSMEs are likely to benefit from this scheme. Performance of IBC up till this point competition success review buy.
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