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Judgment
The dispute in this petition stands settled with the intervention of Delhi High Court Mediation and Conciliation Centre and the Settlement Agreement dated 16 August 2024 is on record.
The parties are also represented in court by learned Counsel.
The court has perused the settlement agreement and finds them to be in order. However, para 8 of the settlement agreement reads thus:
“8.It is agreed between the parties that the present Conciliation Agreement be treated as Conciliated Agreement under Section 73 of the Arbitration and Conciliation Act, 1996 as amended upto date and the same shall have the status and effect of an arbitral award under Section 74 of the Arbitration and Conciliation Act, 1996.”
The Court therefore disposes of the present petition in terms of the aforesaid settlement agreement and particularly in terms of para 8 thereof.
The petition stands disposed of in the aforesaid term.