Latest News | Govt Extends Date for Submitting Claims Under Vivad Se Vishwas Scheme to December 31

New Delhi, Nov 9 (PTI) The finance ministry on Thursday extended the deadline by two months till December 31 for submitting claims to settle pending disputes relating to government contracts.

The Vivad se Vishwas II scheme was launched on July 15 to settle disputes in government contracts and the last date for submitting claims by contractors was October 31.

Also Read | Uttarakhand Day 2023 Date: Know the History & Significance of Uttarakhand Sthapna Diwas That Marks the State Foundation Day.

In an office memorandum, the Department of Expenditure said lt has been decided that the claims under the Vivad se Vishwas II scheme can now be submitted till December 31, 2023.

The scheme is applicable to all domestic contractual disputes where one of the parties is either the government of India or government undertakings.

Also Read | CAT 2023 Exam Admit Card Out at iimcat.ac.in: Hall Ticket for Common Eligibility Test Examination Released, Know Steps To Download.

Under the scheme, for court awards passed on or before April 30, 2023 the settlement amount offered to the contractor will be up to 85 per cent of the net amount awarded/upheld by the court.

For arbitral awards passed on or before January 31, 2023, the settlement amount offered is up to 65 per cent 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 the Ministry of Railways, contractors have to register their claims on railway's e-procurement system portal IREPS.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)