AIBE Prep › Papers › AIBE XIII — December 2018 › Q.52
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Q.52
ADR & Arbitration Act Medium Knowledge-Based
Bare Act Arbitration and Conciliation Act, 1996 · Section 74

What is the status of a settlement agreement in Conciliation proceeding:

A Non-binding
✓ Same as a settlement award Answer
C Unlike a settlement award
D None of the above
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Explanation & Strategy

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A settlement agreement in conciliation proceedings has the same status and effect as an arbitral award on agreed terms under Section 74 of the ACA. It is final, binding on parties, and enforceable as if it were a decree of court.

At a Glance
Subject ADR & Arbitration Act
Difficulty Medium
Act Arbitration and Conciliation Act, 1996
Section Section 74
Answer (B) Knowledge-Based
Paper AIBE XIII — December 2018
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📖 Open Book — Reading Mode Arbitration and Conciliation Act, 1996