TaxTMI 
TaxTMI 
2000 (11) TMI 1115
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.... for the financial year 1990-91 and to submit before this Court a proper balance-sheet of the 2nd respondent-company for the financial year 1990-91 and to compel the 1st respondent to disburse to the workers of the 2nd respondent represented by the petitioner all approved benefits flowing from the re-audited balance-sheet. 2. The petitioner has contended that there has been mismanagement of the affairs of the 2nd respondent by the 1st respondent and the 1st respondent has been projecting loss-oriented balance-sheets for every year. According to them, even though the 2nd respondent is earning profit, the balance-sheet is being published as it is running in loss. They have contended that in the balance-sheet of the 2nd respondent for the yea....
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.... will be paid. Ext. R2(a) is the minutes of the meeting of the Industrial Relations Committee for textile industries dated 16-8-1991. According to them, as disputes arose between various Units of the 1st respondent in Kerala and their workmen regarding demand for bonus for the year 1990-91, a conciliation settlement was reached in the meeting held on 20-8-1991 in the presence of the Labour Commissioner, Kerala and the Hon'ble Minister for Labour for Kerala and it was agreed by all the parties that bonus and incentive will be paid as per the terms of the Industrial Relations Committee decisions of 16-8-1991. A true copy of the conciliation settlement is Ext. R2(b). In Ext. R2(b) the Labour Commissioner has certified that he is satisfied that....
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....ther they were members of the Union or not. In the circumstances, we are of the view that the said settlement of 13th September, 1999 is binding on the appellants. . . ." (p. 254) 6. In the decision in M.D. Co-op. Sugars Ltd. v. Secretary, Palghat D.P.S. Workers Union 1997 Lab IC 537, a Division Bench of this Court has observed as follows : "It is also clear that a settlement reached in the course of conciliation proceedings of an industrial dispute with the assistance of a Conciliation Officer and certified by him to be a fair and just settlement, will be binding generally on all the workmen under section 18(3) of the Act even if all the workmen were not parties to the dispute or have not concurred with the settlement so reached. ** ** ....