MSME Breather – Extension of Time

On May 6, 2022, the Government of India introduced amendments in the notification issued by the Ministry of MSME dated June 26, 2020, extending the validity of existing enterprises (registered prior to June 30, 2020), up to June 30, 2022. Prior to this amendment of May 6, 2020, this validity period was only upto March 31, 2021.

In view of this, the RBI released a notification on May 19, 2022, clarifying that the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAM) of the MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs; and the validity of documents obtained for classification of MSMEs were also to be extended to the same period.

You may refer to our previous post on the same subject for clarification on the classification criteria of MSMEs introduced by the Government of India, Ministry of MSMEs.

By Siddharth. V. V

The author is a student of Government Law College, Mumbai, and an intern with HS Law & Associates. Any views are his own.