Delhi High Court Denies Lifting Stay on Kent RO’s Sale of Fans under the KENT Trademark  ||  Sikkim HC: Non-Disclosure of Minor Cases With Acquittal Should Not Automatically Trigger Termination  ||  SC Explains What Constitutes ‘Best Interests’ of Patient in Vegetative State for Passive Euthanasia  ||  Supreme Court: Overzealous Investigation and Cases Based on Public Perception Can Harm Prosecution  ||  SC: Public Servant Convicted of Bribery Cannot Seek Acquittal Merely Due to Co-Accused’s Acquittal  ||  Supreme Court: Call Detail Records Require Section 65B Evidence Act Certificate to be Admissible  ||  SC: Valuation Report is Not Mandatory For Share Capital Reduction U/S 66 Companies Act  ||  SC: NCLAT Order Remains Valid Even if the Bench Has a Majority of Technical Members  ||  SC: Plaintiff Who Approaches the Court with Unclean Hands Cannot be Granted Specific Performance  ||  SC: Co-Operative Society’s Multi-State Status Depends on its Objectives, Not Member Distribution    

Government launches one-time settlement Scheme for Contractual Disputes - (02 Aug 2023)

Commercial

The Department of Expenditure, Ministry of Finance, has launched the scheme, "Vivad se Vishwas II - (Contractual Disputes), to effectively settle the pending contractual disputes of government and government undertakings. The scheme was announced in the Union Budget 2023-24 by the Union Finance Minister.The scheme will apply to all domestic contractual disputes where one of the parties is either the Government of India or an organisation working under its control.Last date for submitting claims under the scheme is 31st October, 2023.

Under the scheme, 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/ 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. Government e-Marketplace (GeM) has developed a dedicated web-page for implementation of this scheme. Eligible claims shall be processed only through GeM. For non-GeM contracts of Ministry of Railways, contractors may register their claims on IREPS (www.ireps.gov.in).

However, the scheme will not be applicable to cases where parties, including the procuring entities, have already reached a settlement through conciliation agreement. Cases under international arbitration are not eligible to be settled under the scheme. The scheme would help in clearing backlog of old pending cases.

Tags : SETTLEMENT SCHEME   LAUNCH   CONTRACTUAL DISPUTES  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved