Under Modi's Vision, 'Vivad Se Vishwas' Empowers Vijay Kedia Stock With Rs 45.59 Cr

Vijay Kedia invested in Om Infra Ltd., a leading player in diverse infrastructure segments, securing the successful receipt of Rupees 45.59 crores under the 'Vivad Se Vishwas' scheme initiated by the Government of India. This settlement, regarding the hydro-mechanical works contract of the Tapovan Vishnugad Hydroelectric power project in Uttarakhand with NTPC Ltd., marks a significant step towards expedited dispute resolution and reinforces the effectiveness of the scheme.

The 'Vivad Se Vishwas' scheme, introduced by the Department of Expenditure, Ministry of Finance, aims to streamline the resolution of pending contractual disputes involving government and government undertakings. Finance Minister Smt. Nirmala Sitharaman, in her Union Budget speech for 2023-24, underscored the scheme's objective, emphasizing its standardized terms and graded settlement options based on the level of dispute pendency.

"This settlement under the 'Vivad Se Vishwas' scheme exemplifies the collaborative efforts between the private sector and the Government of India towards sustained economic progress and timely resolution of contractual disputes," said Vikas Kothari, Managing Director - Om Infra Ltd.

Vikas Kothari, Managing Director of Om Infra Ltd., expressed admiration for the government's proactive approach under the leadership of Honourable Prime Minister Narendra Modi, highlighting the scheme's role in swiftly resolving long-standing contractual disputes. Kothari emphasized the scheme's pivotal role in averting prolonged legal battles, thereby ensuring minimal financial losses for both contractors and preventing substantial losses to the Government exchequer.

Om Infra Ltd., actively engaged in various engineering projects across 16 states in India and international ventures in Nepal and Rwanda, stands as a testament to the scheme's efficacy. The company's involvement in government-backed initiatives such as 'Har Ghar Jal' and multiple infrastructural developments underscores the scheme's positive impact on fostering a conducive business environment for infrastructural growth. Also, Om Infra's share price has jumped 150% in the last 6 months.

On Monday, the shares of Om Infra were trading at a 5% upper circuit at Rs 124.95 apiece level. The scrip has gained 197% in 1 year and on a YTD basis, the stock has generated a multibagger return of 205% so far in 2023.