This notification, S.O. 5621(E), issued by the Ministry of Micro, Small and Medium Enterprises on November 2, 2018, mandates that all companies registered under the Companies Act, 2013 with a turnover exceeding Rs. 500 crore, and all Central Public Sector Enterprises, must onboard onto the Trade Receivables Discounting System (TReDS) platform. This requirement is established under the authority of Section 9 of the Micro, Small and Medium Enterprises Development Act, 2006. The Registrar of Companies in each state is designated as the competent authority to monitor compliance by companies within their jurisdiction, while the Department of Public Enterprises, Government of India, will oversee compliance by Central Public Sector Enterprises. The notification was issued under F.No. 1682018-PGpolicy by Ram Mohan Mishra, Addl. Secy. and Development Commissioner.
Key Entities Referenced
Ministry of Micro, Small and Medium Enterprises: The ministry issuing the notification.
Micro, Small and Medium Enterprises Development Act, 2006: The act under which the powers are exercised to issue the notification.
Companies Act, 2013: The act under which companies are registered, which are required to follow this notification if turnover is more than Rs. 500 crore.
Central Government: The issuer of the instructions within the notification.
Trade Receivables Discounting System: The platform on which companies and Central Public Sector Enterprises are required to onboard.
Reserve Bank of India: The organization that issued the notification for the Trade Receivables Discounting System platform.
Registrar of Companies: The competent authority in each State to monitor compliance by companies.
Department of Public Enterprises: The competent authority to monitor compliance by Central Public Sector Enterprises.
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[फा.सं. 16/8/2018-पीएंडजी/पॉिलसी]
राम मोहन िमNा, अपर सिचव और िवकास आयु&त
MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES
NOTIFICATION
New Delhi, the 2nd November, 2018
S.O. 5621(E).—In exercise of powers conferred by section 9 of the Micro, Small and Medium Enterprises
Development Act, 2006 (27 of 2006), the Central Government hereby issues the following instructions that all companies
registered with the Companies Act, 2013 (18 of 2013) with a turnover of more than Rs. 500 crore (rupees five hundred
crore) and all Central Public Sector Enterprises shall be required to get themselves onboarded on the Trade Receivables
Discounting System platform, set up as per the notification of the Reserve Bank of India. The Registrar of Companies in
each State shall be the competent authority to monitor the compliance of these instructions by companies under its
jurisdiction and the Department of Public Enterprises, Government of India shall be the competent authority to monitor
the compliance of such instructions by Central Public Sector Enterprises.
[F.No. 16/8/2018-P&G/policy]
RAM MOHAN MISHRA, Addl. Secy. and Development Commissioner
6514 GI/2018
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.