Law for Credits - A reverse action required to vitalise a Business

The recent trend in motivating Small scale industries by the government is to be appraised and at the same time the long run of the entities is also to be considered and assured. The learning from the source of the past downfall of entities is to be studied first to make the recent trend of motivating a grand success.
The closure of every business is not purely because of the debts by the entity but because of the credits which was delayed on that time when it was required. The time frame to pay the debts are planned by organizations based on the time frame involved in collecting the credits. When credits being paid on time (within the time frame quoted in the contract) the analyzed structure lays a perfect path to pay back the debts on time and ensures the long run, the motto and dream of every business.
Is the above statement a social work which is to be carried to every business requesting them to pay on time or will they do so as requested?The collection process of debts has made a man forget all his virtues. What is required is a law, the power ensuring the long run of every business.

The act of delaying payment beyond the time frame agreed should be stated a “criminal act”. The word makes every entity act on time to pay their debts because one man’s debt is other man’s credit. Such a law will change the scenario of today businesses a pleasant option of survival for everyone who has or wishes to build an everending entity.

The Law;
1. Interest on amount payable which is delayed after the time frame on every day basis.
2. Double Interest on amount payable from the 31st day of implementing the above rule no:1.
3. On the 61st day from the day of implementing the above rule no 1 a specific court ensuring specific relief on the principles of natural justice.

The point 1 and 2 are been followed by all financial institutions and the lack is becuase it has not been applied in every industry. The law will solve the purpose, when it is promulgated as a criminal law.

The enactment of such a law will encourage the growth rate of entreperneurs and will bring that desired change in all walk's of life. The long time dream of mankind to feel the meaning of peace is there when this is raised by all. A reverse action is required and should be recommended to vitalize peace and Economy.

This is just a draft until today, when it is felt by everyone it becomes a LAW tomorrow.! dont stop after agreeing but think...........of a action;