valid as on 30/09/2020

28.1.25: The Companies (Mediation and Conciliation) Rules, 2016

25. Settlement agreement

(1) Where an agreement is reached between the parties in regard to all the issues in the proceeding, the same shall be reduced to writing and signed by the parties and if any counsel has represented the parties, the conciliator or mediator may also obtain the signature of such counsel on the settlement agreement.

(2) The agreement of the parties so signed shall be submitted to the mediator or conciliator who shall, with a covering letter signed by him, forward the same to the  Central Government or the Tribunal or the Appellate Tribunal, as the case may be.

(3) Where no agreement is reached at between the parties, before the time limit specified in rule 19, or where the mediator or conciliator is of the view that no settlement is possible, he shall report the same to the central government or the Tribunal or the Appellate tribunal, as the case may be, in writing.

 


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