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News c. Strength of legal rights index improved from 6 b. DTF score improved from 73.33 to 80 to 8 c. Strength of minority investor protection index d. Credit bureau coverage increased from 21.4% increased from 7.3 to 8 to 43.5% (% of adults) d. Extent of conflict of interest regulation index e. Increased coverage of security interest increased from 6.7 to 7.3 registration under SARFAESI Act e. Extent of shareholder governance index f. Secured creditors prioritized over Government increased from 8 to 8.7 dues for purposes of recovery f. Greater transparency requirements for 4. Enforcing contracts - interested parties transactions a. Rank improved from 172 to 164 g. Greater shareholder protection through action b. DTF score improved from 35.19 to 40.76 against directors & claims for damages 6. construction Permits - c. Cost reduced from 39.6% to 31% (% of claim) a. Rank improved from 185 to 181 d. Quality of judicial process index improved from 9 to 10.3 b. DTF score improved from 32.83 to 38.80 e. Dedicated commercial courts established c. Procedures to obtain construction permits reduced from 35.1 to 30.1 f. National Judicial Data Grid (NJDG) to monitor and manage court cases d. Time reduced from 190.0 to 143.9 days 5. Protecting Minority Investors – e. Cost reduced from 25.9 per cent to 23.2 per a. Rank improved from 13 to 4 cent of warehouse value. n Giriraj Singh launches MSME Delayed Payment Portal – MSME Samadhaan nion Minister of State (Independent Singh said that the Micro, Small and Medium Charge) Shri Giriraj Singh launched Enterprise Development (MSMED) Act, 2006 UMSME Delayed Payment Portal – MSME contains provisions to deal with cases of delayed Samadhaan (http://msefc.msme.gov.in) on 30 payment to Micro and Small Enterprises (MSEs). th October 2017, Empowering Micro and Small As per the provisions, the buyer is liable to pay Entrepreneurs across the country to directly register compound interest with monthly rests to the their cases relating to delayed payments by Central supplier on the amount at three times of the bank Ministries/Departments/CPSEs/State Governments. rate notified by Reserve Bank in case he does not Shri Arun Kumar Panda, Secretary, Ministry of make payment to the supplier for the supplies of MSME along with other dignitaries and senior goods or services within 45 days of the day of officials from the Ministry were also present. acceptance of the goods/service or the deemed Speaking on the occasion, Shri Giriraj day of acceptance. June-November, 2017 57