Quick Summary
The Government of India, Ministry of Finance, Department of Expenditure, Procurement Policy Division has issued Office Memorandum videNo.F.1/7/2022-PPD dated May 29, 2023has decided to implement a one-time settlement scheme called Vivad se Vishwas II (Contractual Disputes) to effectively settle pend
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
Vivad se Vishwas II (Contractual Disputes) is a one-time settlement scheme launched by the Government of India to effectively settle pending disputes related to government contracts.
The scheme is being implemented by the Government of India, specifically the Ministry of Finance, Department of Expenditure, Procurement Policy Division.
The scheme aims to settle pending disputes, improve the ease of doing business with the government, attract private investment, and clear the backlog of old litigation cases which tie up capital and reduce competition.
Statistics show that many government-challenged arbitration awards favour contractors, often with high interest, causing financial losses. The scheme seeks to mitigate these losses by offering a settlement.
The scheme is specifically for pending contractual disputes between the Government and private entities.
CAclubindia
