Union Finance Minister Nirmala Sitharaman.
Credit: PTI File Photo
New Delhi: 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.
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.
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.