SC: Valid Bareboat Charter Termination Extinguishes Demise Charter, Vessel Arrest Vacated  ||  SC: Absence of Train Ticket No Ground to Deny Compensation for Passenger’s Death  ||  Patna HC: Routine FIR Involvement alone cannot Deny Arms Licence without Safety Threat  ||  Chhattisgarh HC: WhatsApp Chats Proving Mental Cruelty cannot be Ignored on Evidence Grounds  ||  Delhi HC: Foreign Travel Restrictions must not Obstruct Pregnant Foreigner's Medical Care  ||  MP High Court: Article 227 Cannot Be Invoked to Quash Wife’s Conjugal Rights Proceedings  ||  Kerala High Court Issues Directions on Driver Profiling, Bus Regulation and Road Safety  ||  Delhi HC: Prior Permission for Foreign Travel Unjustified When Accused Was Never Arrested  ||  Air India Penalised Rs. 50K Over De-boarding Disabled Woman and Wheelchair Damage  ||  Delhi HC: Muslim Personal Law cannot Shield Sex with Minor Wife from POCSO Case    

Government launches Vivad se Vishwas scheme for relief to MSMEs - (02 May 2023)

Commercial

Central Government has launched the scheme, “Vivad se Vishwas I – Relief to MSMEs”. The scheme was announced in the Union Budget 2023-2024 by Union Finance Minister Smt. Nirmala Sitharaman. The Ministry of Finance, had issued an order indicating the broad structure of the scheme. Final instruction in this regard, extending the relief to cover more cases and relaxing the limits of refunds was issued on 11th April, 2023. The scheme was commenced from 17th April, 2023 and the last date for submission of claims is 30th June, 2023.

The relief provided under the scheme is in continuation to the efforts of the government in promoting and sustaining the MSME sector. As per the scheme, Ministries have been asked to refund performance security, bid security and liquidated damages forfeited/ deducted during the COVID-19 pandemic. Certain relief has also been provided to MSMEs debarred for default in execution of contracts during the COVID-19 period. Government e-Marketplace (GeM) has developed a dedicated web-page for implementation of this scheme. Eligible claims shall be processed only through GeM.

The Ministry of Finance, through this scheme, decided to give following additional benefits to eligible MSMEs, affected during the COVID-19 period:

i. 95% of the performance security forfeited shall be refunded.

ii. 95% of the Bid security shall be refunded.

iii. 95% of the Liquidated Damages (LD) deducted shall be refunded.

iv. 95% of the Risk Purchase amount realized shall be refunded.

v. In case any firm has been debarred only due to default in execution of such contracts, such debarment shall also be revoked, by issuing an appropriate order by the procuring entity.

However, in case a firm has been ignored for placement of any contract due to debarment in the interim period (i.e. date of debarment and the date of revocation under this order), no claim shall be entertained.

vi. No interest shall be paid on such refunded amount.

Tags : VIVAD-SE-VISHWAS SCHEME   GOVERNMENT SCHEME   MSME  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved