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      Question

      Settlement agreement is covered under which section of

      the Arbitration and Conciliation Act, 1996?
      A 73 Correct Answer Incorrect Answer
      B 74 Correct Answer Incorrect Answer
      C 75 Correct Answer Incorrect Answer
      D 76 Correct Answer Incorrect Answer
      E 77 Correct Answer Incorrect Answer

      Solution

      S. 73. Settlement agreement .—(1) 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.

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