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Source: The post is based on the article “Govt. kicks off contractual dispute settlement scheme” published in The Hindu on 3rd August 2023
What is the News?
Government of India has launched the Vivad se Vishwas-II scheme for settling contractual disputes involving the government and government undertakings.
What is the Vivad se Vishwas-II Scheme?
Source: The Hindu
Vivad se Vishwas-II Scheme was announced in the Union Budget 2023-24.
Aim: To resolve the government’s contractual disputes with private parties, clear the backlog of litigation and improve the ease of doing business.
Applicability: The scheme will apply to all domestic contractual disputes where one of the parties is either the Government of India or an organization operating under its control.
Cases covered: The scheme will cover cases where the court order was passed by 30 April 2023, and the arbitral order given by 30 January 2023.
Under the scheme, for court orders passed on or before 30 April 2023, the settlement amount offered to the contractor will be up to 85 per cent of the net amount awarded or upheld by the court.
– For arbitral orders passed on or before 1 January 2023, the settlement amount offered is up to 65 percent of the net amount awarded.
Claims processed through: Eligible claims will be processed only through the government e-marketplace.
