The Ministry of Micro, Small, and Medium Enterprises (MSME) is set to host a Stakeholder Consultation on January 10, 2025, in New Delhi and online, focusing on reducing compliance burdens under the Companies Act, 2013.
The event aims to address regulatory reforms and propose amendments to enhance the ease of doing business for MSMEs.
Key discussion areas include harmonizing MSME definitions under the Companies Act, 2013, and the MSMED Act of 2006, eliminating filing fees for companies below certain thresholds to encourage formalization, simplifying statutory audit requirements for micro-enterprises, and easing processes related to mergers, and acquisitions, and business closures.
Additionally, the session will emphasize integrating MSMEs into the PM Internship Scheme to strengthen workforce capabilities and bridge the skill gap.
The consultation will bring together representatives from the Ministry of MSME, Ministry of Corporate Affairs, MSME industry associations, legal experts, academia, and professionals such as Chartered Accountants and Company Secretaries.
The objective is to simplify compliance requirements under the Companies Act, 2013, creating a more supportive regulatory framework for MSMEs.
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