Alerts & Updates 31st May 2023

Vivad Se Vishwas II – A window of opportunity to reap the fruits of your award

Authors

Naresh Thacker Partner | Mumbai
Alok Jain Partner | Mumbai
Ria Dalwani Principal Associate | Mumbai

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On May 29 2023, the Government of India issued Vivad se Vishwas II Scheme for settling contractual disputes where arbitral awards or court decrees have been issued prior to 31 January 2023 and 30 April 2023 respectively. The scheme is a welcome move to settle litigations and is likely to infuse cashflow into the economy. We examine the scheme with a focus on the infrastructure and construction sector which is likely to benefit substantially. Nevertheless, the scheme is applicable to other sectors equally.

The detailed article can be read here