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compromise offer. accept it or fight back?


Hello Experts

 

1. In 2011 My Ex-Employer initiatied Arbitration proceedings as I started my own company in competition to them. 

 

2. Claiming 15 lakhs on breaking the employment bond. Clause - Sole Arbitrator appointed by them as written in Contract. The Contract which is hit by "Section 72 of Contract Act', Restriction of Trade etc...

 

3. During Cross examination all their false accusation falle flat and found without any evidence, as I provided them all the Email communication which suggests amicable resignation and False claims by them. (they were not expecting me to keep all the records)

 

4. My Cross examination by them is till pending for 6 months now and they are not looking intersted.

 

Once day their Lawyer calls me (on Phone) and  offer me to compromise and finish the case if I pay 'him' 1,00,000/- 

 

I know their claims are without any proof. 

 

HENCE, my query is - Should I file the case in court if he still pass the award against me (ignoring the settled law) OR pay him..?

 

Your suggestions/advice/guidence Please!

 

Best

RSH

 
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Lawyer in Hyderabad.wats app no.9989324294

During the pendency of arbitral proceedings, if the parties settle their differences and disputes and come to an agreement, and intimate it to the arbitral tribunal, and also request the arbitral tribunal to record it as an arbitral award, then the arbitral tribunal shall fraome the ' settlemet award ' with the agreed terms. This award must be i the same form of any other 'arbitral award'. The settlement award is equal in all respects with that of arbitral award.

 
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