https://www.taxtmi.com/caselaws?id=108509 A conciliation settlement becomes final and enforceable only if the statutory procedure is strictly followed: the conciliator must formulate possible terms, the parties must reach agreement, the settlement must be recorded in writing and signed, and the conciliator must authenticate it. Only then does it have the same status and effect as an arbitral award on agreed terms. A mere memorandum, assurance, or letter of comfort, even if linked to conciliation and signed by the parties, is not enforceable as a settlement unless it satisfies the prescribed form and procedure. Where no complete settlement is recorded and conciliation is not terminated in the statutory manner, execution under the enforcement provision is not maintainable. en-us Wed, 12 Mar 2003 00:00:00 +0530 Mon, 19 Aug 2013 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108509 A conciliation settlement becomes final and enforceable only if the statutory procedure is strictly followed: the conciliator must formulate possible terms, the parties must reach agreement, the settlement must be recorded in writing and signed, and the conciliator must authenticate it. Only then does it have the same status and effect as an arbitral award on agreed terms. A mere memorandum, assurance, or letter of comfort, even if linked to conciliation and signed by the parties, is not enforceable as a settlement unless it satisfies the prescribed form and procedure. Where no complete settlement is recorded and conciliation is not terminated in the statutory manner, execution under the enforcement provision is not maintainable. Case-Laws Companies Law Wed, 12 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108509