New Delhi: State-owned Oil and Natural Gas Corporation (ONGC) has taken the lead in implementing the government’s one-time settlement scheme ‘Vivad se Vishwas-2’ to fast-track the resolution of contractual disputes. “ONGC has constituted an internal task force to settle such issues,” the company said in a statement.
Under the settlement, 85 per cent of the net amount due will be paid where a court order is passed on or before April 30 and 65 per cent of the net amount in cases where an arbitral award is passed on or before January 31, 2023, ONGC said.
