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The MSMED Act, 2006 focuses on the promotion and development of MSMEs in India by providing a legal framework for their growth, facilitating access to finance, and ensuring easier registration. In contrast, the Insolvency and Bankruptcy Code (IBC), 2016 provides a detailed insolvency resolution process for firms, including MSMEs. Section 240A of the IBC specifically offers MSMEs a special protection in the insolvency process, providing them with a different resolution approach as compared to other companies. The MSMED Act facilitates growth, while the IBC addresses insolvency concerns with provisions specially designed for MSMEs, balancing protection and debt resolution.
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I.The Asian Development Bank (ADB) has approve...
________ collaborated with Global Trade Plaza to simplify cross-border payments for Indian exporters & aims to facilitate international trade promotion ...
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