Quick Summary
The Government of India, Ministry of Finance, Department of Expenditure, Procurement Policy Division has issued Office Memorandum videNo.F.1/7/2022-PPD dated May 29, 2023has decided to implement a one-time settlement scheme called Vivad se Vishwas II (Contractual Disputes) to effectively settle pending disputes. The undersigned is directed to refer to Rule 227A of the General Financial Rules (GFRS), 2017 and Department of Expenditures (DOEs) General Instructions on Procurement and Project Man
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FAQ :
Vivad se Vishwas II (Contractual Disputes) is a one-time settlement scheme launched by the Government of India to effectively settle pending disputes related to government contracts.
The scheme is being implemented by the Government of India, specifically the Ministry of Finance, Department of Expenditure, Procurement Policy Division.
The scheme aims to settle pending disputes, improve the ease of doing business with the government, attract private investment, and clear the backlog of old litigation cases which tie up capital and reduce competition.
Statistics show that many government-challenged arbitration awards favour contractors, often with high interest, causing financial losses. The scheme seeks to mitigate these losses by offering a settlement.
The scheme is specifically for pending contractual disputes between the Government and private entities.
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