SC: Daughter Doesn't Lose Ties With Natal Family After Marriage, Such Stereotype is Unconstitutional  ||  SC: Limitation For Filing S.34 Appeal Starts From Disposal of S.33 Application, Allowed or Rejected  ||  SC: In Cases of Drug Trade Threats to the Nation, Sovereignty Prevails over Personal Liberty  ||  Delhi HC: Plaintiff Can Obtain a Refund of Court Fees After an IBC Resolution Plan “Settlement”  ||  Ker HC: Default Bail is Available if Final Report is E-Filed After 5 Pm on Last Statutory Day  ||  J&K&L HC: NDPS Act Provisions Extending Investigation Time Apply to Narco-Terror Cases under UAPA  ||  Supreme Court: Courts Have Sometimes Failed Arbitration, With Interference Curing No Disease  ||  Supreme Court: Co-Heir Cannot Sell Other Heirs' Shares as Karta After Intestate Succession  ||  SC: Casual Labourers With Temporary Status are Eligible For Pension Even Without Regularisation  ||  Supreme Court: High Courts Must Record the Nature of Crime and Allegations While Quashing FIRs    

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