MSME Act Will Override Arbitration Law, Supreme Court Says

The Supreme Court has held that the Micro, Small and Medium Enterprises Development Act will have overriding powers over the Arbitration Act. When a specific legislation exists, the apex court pointed out, no agreement between private parties can have primacy over it.Parties will continue to have access to Micro and Small Enterprises Facilitation Council, even if an arbitration agreement exists, a bench of Chief Justice UU Lalit and …