Steel trade dues are large and time-sensitive: a legal notice within days, Section 138 for bounced cheques, and a summary suit for the balance. Mills and fabricators with Udyam registration can add MSME Samadhaan against corporate buyers.
Steel, metals and scrap trading in Mumbai
Mumbai is India’s largest B2B market and its dues are the most varied: garment exporters in Dharavi and Andheri, chemical traders in Masjid Bunder, agencies and consultants billing corporates in BKC and Lower Parel. Cheque-based payments are still common in trading, so Section 138 is a frequent route, and arbitration clauses in corporate contracts often decide where a dispute is heard.
High-value lots, 15 to 60 day terms, cheque payments and price-fluctuation disputes.
Proof to collect
Typically invoices with weight and grade, weighment slips, e-way bills and LRs, mill test certificates and cheques.
- Avoid: rate confirmed only verbally when prices move
- Avoid: weight disputes with no joint weighment
- Avoid: cheques collected but deposited late
Forums in Mumbai
| Route | Forum |
|---|---|
| Section 138 (cheque bounce) | Metropolitan Magistrate courts (Esplanade, Mazgaon, Andheri, Bandra, Kurla and others) for Section 138 complaints |
| Summary suit / recovery suit | City Civil Court and the Bombay High Court Commercial Division for high-value recovery suits. |
| MSME Samadhaan | Maharashtra Micro and Small Enterprises Facilitation Councils (regional councils for Mumbai, Pune, Nashik, Nagpur, Aurangabad and Amravati regions) (detail) |
| Arbitration | As per the contract clause |
How FundRaksha works for steel, metals and scrap trading suppliers in Mumbai
- Free assessment of the documents your trade produces.
- Notice within 24 hours, itemising invoices, disputed and undisputed amounts and interest.
- Negotiation and documented settlement.
- Filing in Mumbai or before the Council if needed.
30% on recovery, nothing upfront.