Summary
- The Supreme Court in M/s. Vaishno Enterprises v. Hamilton Medical AG ruled that the MSME Facilitation Council lacked jurisdiction over disputes arising from contracts executed before MSME registration.
- The Court clarified that only suppliers registered as MSMEs at the time of contract formation can invoke protections under the Micro, Small and Medium Enterprises Development Act, 2006.
- This decision emphasizes the importance of timely MSME registration for businesses seeking statutory benefits in contractual agreements.
- However, the Court left open questions regarding the jurisdictional applicability of the MSMED Act to foreign buyers and post-contract registrations for future adjudication.
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