Deadline extended: Vivad se Vishwas II scheme allows claim submission till December 31

The Ministry of Finance 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.

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

The Department of Expenditure said “It has been decided that the claims under the Vivad se Vishwas II scheme can now be submitted till December 31, 2023.”

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.

Read more at: economic times