National Company Law Tribunal allows Centre's interim plea for reconstitution of Infrastructure Leasing & Financial Services Ltd Board
The Garden Reach Shipbuilders and
Engineers Ltd today became the first Defence PSU to get itself
activated on the TReDS (Trade Receivable Discounting System)
platform with necessary IT integration, post completion of
security checks and testing, a Defence spokesperson said here.
Rear admiral (retd) Vipin Kumar Saxena, chairman and
managing director of GRSE Ltd inaugurated the TReDS system of
payment mechanism to vendors under MSME category through TReDS
The on boarding of the defence public sector units
(PSU) will benefit over 500 MSMEs, the spokesperson said.
"This Make In India initiative brings MSME sellers,
corporate and other buyers including government departments,
PSUs and financiers together onto a common platform, to
facilitate discounting and settlement of invoices at the
earliest," the spokesperson said.
With the implementation of TReDS, challenges faced by
the micro, small and medium enterprises (MSME) on account of
shortage of working capital for their regular business
operations will be taken care of.
This platform enables discounting of invoices of MSME
vendors against large buyers through auction mechanism
ensuring prompt realization of trade receivables at
competitive market rates and helps avoid the constraints in
obtaining financing, the spokesperson said.(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)