Vide a notification issued by the Govt. of India on 2nd November, 2018, all companies with a turnover of more than Rs.500 crores, and all Central Public Sector Enterprises shall get themselves registered at the Trade Receivables Discounting System Platform set up by the RBI. The Registrar of Companies in each state shall be the competent authority to monitor the compliance of these instructions in respect of companies under its respective jurisdiction and Department of Public Enterprises is the authority for the public sector enterprises.
The RBI guidelines in respect of the Trade Receivables Discounting Sytem (TReDS) is given here
So this is another set of compliances to be done by these big companies.
The RBI guidelines in respect of the Trade Receivables Discounting Sytem (TReDS) is given here
So this is another set of compliances to be done by these big companies.
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