Ipcl vs Reliance on 10 May, 2011
15. As the
settlement entered into in the course of conciliation proceedings
assumes crucial importance in the present case, it is necessary for
us to recapitulate the fairly well settled legal position and
principles concerning the binding effect of the settlement and the
grounds on which the settlement is vulnerable to attack in an
industrial adjudication. Analysing the relative scope of various
clauses of Section 18, this Court in the case of Barauni Refinery
Pragatisheel Shramik Parishad vs. Indian Oil Corporation Ltd. (1991
(1) SCC 4) succinctly summarized the position thus:-