SC: UGC Regulations Override State Law on Forming Search Committees For University VC Appointments  ||  SC: State Cannot Deny Regularisation to Long-Serving Contract Staff Appointed Through Due Process  ||  Supreme Court: Patients Cannot Claim Unproven Medical Treatments as a Matter of Right  ||  SC: Polluting Company’s Turnover May Be Considered While Fixing Environmental Damage Compensation  ||  Delhi HC: Dacoity Convicts U/S 395 IPC Cannot Claim Benefit under the Probation of Offenders Act  ||  Bombay HC: An Adopted Child’s Caste is Considered the Same as That of the Adoptive Parents  ||  Calcutta High Court: 18-Month Delay in Delivering a Judgment Alone is Not Sufficient to Set it Aside  ||  Punjab & Haryana High Court: ED Can Arrest Individuals Even if FIRs are Added to the ECIR Later  ||  SC: Menstrual Health is a Fundamental Right under Article 21; Orders Free Sanitary Pads in Schools  ||  Supreme Court: Industrial Court is the Proper Forum to Decide Issues Relating to Contract Labour    

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