Sour over delayed payments, bizmen to ‘shame’ defaulters

Ludhiana: Irked by a huge number of buyers and clients not making their payments on time, the micro, small and medium enterprises from the bicycle sector have now decided to publicly shame these defaulters by circulating their names on social media and and urging other sellers not to deal with them. United Cycle and Parts Manufacturers’ Association (UCPMA), the largest bicycle industry association, has assured the industrialists that in case anyone defaults on the payments, they will first try to procure the money from the defaulter, failing which their particulars would be made public.UCPMA president D S Chawla said, “In a meeting of our association held on Monday, we discussed the crucial matter of the rising number of payment defaults being done by several of our customers; which is giving sleepless nights to the industry as such habitual defaulters, after deliberately not paying one seller, approach the others and con them as well.”Chawla added, “Since such people don’t have fear the law, we will now circulate all particulars of the big-time defaulters on social media so that besides industrialists, their knowns could also be made aware about the defaults being committed by them.”The association has also urged the businessmen to lodge a formal complaint with the UCPMA in case of payment default.Rupak Sood, secretary of UCPMA said, “The matter of payment defaults has been taken very seriously by UCPMA and we request all the members that they should first lodge a complaint about such defaults along with proofs at our office. On receiving a written complaint, UCPMA will once try to get the payment released from the defaulters, and in case the party fails to do so, its particulars will be circulated among members to caution them against dealing with the firm till it clears the payments of our members.”