Chapter V - Delayed Payments to Micro and Small Enterprises
Section 24
Section 24: overriding effect
Section 24 gives sections 15 to 23 of the MSMED Act effect despite anything inconsistent in any other law for the time being in force.
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This article is for general information. Refer to the Micro, Small and Medium Enterprises Development Act, 2006 official text for the official provisions. If you need professional advice for your situation, contact Bizeneed.
Statutory text
Bare law
The provisions of sections 15 to 23 shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force.
Introduction
This is a priority rule for the delayed-payment chapter. It does not make every other law irrelevant: the first question is whether there is a real inconsistency with one of sections 15 to 23.
Key takeaways
Limited to sections 15 to 23
Section 24 expressly covers sections 15 to 23, not the whole MSMED Act.
Identify the inconsistency
A genuine conflict with another law has to be shown before section 24 decides which one prevails.
Find the delayed-payment rule involved
Identify the rule within sections 15 to 23 that applies, such as the payment deadline or statutory interest, and the provision of the other law said to conflict with it.
Compare the two provisions
Read both provisions in full and decide whether they can operate together. Section 24 resolves inconsistency; it does not replace the need to identify an actual conflict.
Status of the 2026 amendment
The Micro, Small and Medium Enterprises Development (Amendment) Act, 2026 (No. 16 of 2026) received the President's assent on 13 August 2026. Under its section 1(2) it comes into force on dates the Central Government notifies in the Official Gazette, and different provisions can start on different dates. When this page was checked on 11 October 2026, we had not found a commencement notification, so this page describes the law as it stood before that Act. The 2026 Act does not change section 24, but it amends or replaces several sections in the 15 to 23 range (including sections 18 to 21) and adds sections 15A and 18A. Check which version of the relevant section is in force on your dates. Check the Gazette for a commencement notification before relying on any 2026 change.
Official sources
Frequently asked questions
Does section 24 override the whole of every other law?
No. It gives sections 15 to 23 effect only to the extent another law is inconsistent with them.
Need help applying this provision to your situation?
Contact BizeneedLast updated 11 October 2026