Section 72: Settlement agreement

Q: What does Section 72 of Arbitration and Conciliation Act, 1996 (A&C Act) deal with?

Section 72 A&C Act pertains to "Settlement agreement". It is part of the Arbitration and Conciliation Act, 1996, a legislation enacted by the Parliament of India. Section 72 of the Arbitration and Conciliation Act, 1996 (A&C Act) governs settlement agreement.

Q: Is Section 72 A&C Act still in force?

Yes, Section 72 of the Arbitration and Conciliation Act, 1996 is currently in force across the Republic of India.

Q: What is धारा 72 A&C Act?

धारा 72 A&C Act is the Devanagari Hindi reference for Section 72 of the Arbitration and Conciliation Act, 1996. Section 72 of the Arbitration and Conciliation Act, 1996 (A&C Act) governs settlement agreement.

Q: What is Dhara 72 A&C Act?

Dhara 72 A&C Act is the Roman Hindi reference for Section 72 of the Arbitration and Conciliation Act, 1996. "Dhara" means "Section" in Hindi. Section 72 of the Arbitration and Conciliation Act, 1996 (A&C Act) governs settlement agreement.

Q: How to cite Section 72 of Arbitration and Conciliation Act, 1996?

Cite as: "Section 72, Arbitration and Conciliation Act, 1996 (A&C Act)" in legal briefs. For academic writing, use the BlueBook format: Arbitration and Conciliation Act, 1996, 1996, § 72 (India).

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When it appears to the conciliator that there exist elements of a settlement which may be acceptable to the parties, he shall formulate the terms of a possible settlement and submit them to the parties for their observations. After receiving the observations of the parties, the conciliator may reformulate the terms of a possible settlement in the light of such observations.
If the parties reach agreement on a settlement of the dispute, they may draw up and sign a written settlement agreement. If requested by the parties, the conciliator may draw up, or assist the parties in drawing up, the settlement agreement.
When the parties sign the settlement agreement, it shall be final and binding on the parties and persons claiming under them respectively.
The conciliator shall authenticate the settlement agreement and furnish a copy thereof to each of the parties.

When it appears to the conciliator that there exist elements of a settlement which may be acceptable to the parties, he shall formulate the terms of a possible settlement and submit them to the parties for their observations. After receiving the observations of the parties, the conciliator may reformulate the terms of a possible settlement in the light of such observations.
If the parties reach agreement on a settlement of the dispute, they may draw up and sign a written settlement agreement. If requested by the parties, the conciliator may draw up, or assist the parties in drawing up, the settlement agreement.
When the parties sign the settlement agreement, it shall be final and binding on the parties and persons claiming under them respectively.
The conciliator shall authenticate the settlement agreement and furnish a copy thereof to each of the parties.