SC: Completed Trial can't be Remanded for Procedural Lapse Unless Prejudice is Proven  ||  SC: Sessions Courts Cannot Bar Statutory Remission and Commutation Through Special Sentences  ||  SC: Article 311 Bar Inapplicable If Removing Officer Equals Appointing Authority in Status  ||  SC: Contractual Bar Prevents Arbitral Tribunal From Awarding Pre-Reference Interest  ||  SC Frames Guidelines to Prevent POCSO Act Misuse by Parents in Custody Disputes  ||  Delhi HC Directs DLSA to Convey Trial Court’s Encouraging Message and Compensation to POCSO Survivor  ||  Delhi HC: Gravity of UAPA Offence Cannot Justify Prolonged PMLA Detention  ||  Delhi HC Affirms Equestrian Federation's Youth Olympics Selection, Calls for Clearer Norms & Timeline  ||  Delhi HC: Ajeet Bharti Used Caste Superiority to Humiliate Chandrashekhar Azad  ||  Supreme Court: Anti-Suit Injunction Cannot Rest on Speculation of Unenforceable Foreign Decree    

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