Breach Of Settlement Agreement India

For example, in the context of employment, a settlement agreement may require an employer to provide settlement indemnities and the continuation of benefits and, conversely, require the worker not to cooperate with or solicit the employer`s clients and employees. Section 73 of the Act authorizes a conciliator to prepare a settlement agreement that is final and binding on the parties. § 74 perceives the status of this settlement agreement to an arbitral award. The Hon`ble Delhi High Court confirmed the same in Anuradha SA Investments LLC & Anr. v. Parsvnath Developers Limited &Ors 2017 (4) ARBLR 72 (Delhi). At first, there may be the impression that the settlement agreements contain the conditions of approval adopted by the parties, there does not seem to be any justification for accepting a request to set aside an arbitral award on agreed terms (settlement agreements).