Settelment Under Industrial Dispute Act

Hi Friends,
Recently there has been a settelment between my company and aggreved workman, during the conciliation proceeding, and the Conciliation officer has issued the form H, under section 12 (3) of ID act.
I would like to know
Is this agreement is legally binding on both the parties or not
Does any space is still left to move to labour court.

Sir,
If the matter was under the conciliation and resulted into the settlement agreed by both parties, then FORM H (Under The Industrial Dispute (Central) Rules 1957) has to be filled as Memorandum of settelment along with the signatures by both parties as well as signature of Conciliation Officer, Which ultimately confims that the agreement done between two parties are acceptable to both and legally authonticated by the conciliation officer.
If the agreement not signed by any of the parties, then there would be scope to refer it to further conciliation only. As per my knowledge, such matter would be referred upto Conciliation Officers only for amicable settelement and not to labour court as it dose not involved any point under the matters within the jurisdiction of labour court.
Once the agreements gets signed in confirmation with the conciliation officer, it is binding to both parties.
Regards,

Dear sir
Signing of Mou before conciliation officer gives finality to the settlement and no question of moving court.

Sub- settlement before conciliation officer
Dear Mr. Dhillon
The courts attach as much sanctity to a settlement arrived at in conciliation as to an award delivered by a Labour Court or Industrial Tribunal. It is binding under sec.18(3) of the Industrial Disputes Act 1947 not only on the parties who signed the settlment but on all parties who were summoned to the proceedings and is binding on every workman employed in the establishment irrespective whether or not such workman is a member of the union which signed the settlement.
B.Saikumar
HR & labour Law Consultant
Chipinbiz Consultancy Pvt.ltd
Mumbai
022-28324234

Hi,
Since it is settlement as per section 2(p) of ID Act it is binding not only on the parties who signed on it, but also on the heir , assigns of the employer and also on the existing as well as on the employees joining after the date of signing settlement.
Vishal Amte
8976106121
HR