JUDGMENT

1. Inter alia contends that petitioner company, a registered Micro, Small Medium Enterprise ('MSME'), was completely misled into supplying goods to the respondent-State of Punjab, owing to the tall claim made while executing the contract dated 24.12.2019 that, qua the supply, 100% payment shall be released within 10 days of issuance of Consignee Receipt and Acceptance Certificate (CRAC) and submission of bills.

2. Learned counsel also relies on clause 1.10 of the contract, which apparently induced the petitioner to believe that State Government had the financial worthiness to pay within stipulated period. Notwithstanding that the entire consignment (17,000 white boards to be used by the Education Department across 8,500 locations in the State) has been concededly received by the State Government, the payment has not been disbursed till date.

3. Learned counsel further contends that stringent protections under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) have been envisaged to promote/support MSME industry, inasmuch as, delay in payment entitles an MSME to be paid three times compounded interest on the prevalent RBI interests in the country.

4. L