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CS Executive · Setting Up of Business, Industrial and Labour Laws · Identifying Laws applicable to various Industries and their Initial Compliances

Kavya wants to start a manufacturing unit that qualifies as a micro enterprise. She wishes to obtain a formal recognition that enables access to benefits under MSME schemes. Which step is correct?

Kavya should register on the Udyam Registration portal. It is an online, paperless process based on self-declaration with PAN and Aadhaar details, and it gives recognition as an MSME. The ROC, CCI and SEBI do not grant MSME status.

  1. ARegister on the Udyam Registration portal, which is based on self-declaration and uses PAN and Aadhaar detailsCorrect
  2. BApply for a licence from the Registrar of Companies for MSME status
  3. CObtain approval from the Competition Commission of India
  4. DFile a prospectus with SEBI

Explanation

MSME recognition is obtained through Udyam Registration, an online process based on self-declaration linked to PAN and Aadhaar, without requiring supporting documents upload at the time of registration. ROC, CCI and SEBI have no role in granting MSME status.

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