Vivad se Vishwas-II: Govt aims to settle 500 cases involving about Rs 1 trn

The Budget has proposed the Vivad se Vishwas-2 scheme to settle long-pending litigation in cases where an arbitration order has been challenged in any Indian court

The Central government is aiming to resolve about 500 cases, involving an estimated Rs 1 trillion, under the new voluntary settlement scheme, which has been proposed to bring an end to its contractual disputes with private parties, according to officials.

The Budget this year has proposed the Vivad se Vishwas-2 scheme to settle long-pending litigation in cases where an arbitration order has been challenged in any Indian court.
 

Government-held entities such as Oil and Natural Gas Corporation (ONGC) and National Highways Authority of India (NHAI) have many disputes with private contractors.
 

“The government will be soon putting out a draft