Quick Summary
Government launches a one-time settlement Scheme Vivad se Vishwas - II (Contractual Disputes) to effectively settle pending contractual disputes, as announced in the Union Budget 2023-24 Last date for submitting claims under the scheme is 31.10.2023 The Department of Expenditure, Ministry of Finance, has launched the scheme, Vivad se VishwasII (Contractual Disputes), to effectively settle the pending contractual disputes of government and government undertakings. The scheme was announced
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FAQ :
Vivad se Vishwas-II is a one-time settlement scheme launched by the government to effectively resolve pending contractual disputes involving government and government undertakings.
The last date for submitting claims under the Vivad se Vishwas-II scheme is 31st October 2023.
The scheme applies to domestic contractual disputes where an arbitral award was passed on or before 31st January 2023, or a court award was passed on or before 30th April 2023, and one party is the Government of India or an organisation under its control.
For court awards passed on or before 30th April 2023, the settlement amount offered to the contractor will be up to 85% of the net amount awarded or upheld by the court.
For arbitral awards passed on or before 31st January 2023, the settlement amount offered is up to 65% of the net amount awarded.
Eligible claims shall be processed only through the Government e-Marketplace (GeM). For non-GeM contracts of the Ministry of Railways, contractors may register their claims on IREPS.
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