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1993 (10) TMI 346 - SC - Companies LawWhether there exists arbitrable dispute between the parties. Clause 57 of the contract providing arbitration? Held that:- It is not shown to us that the Chief Construction Manager was competent to acknowledge the liability or an authority to refer the dispute for arbitration. So neither his letters binds the respondent nor operates as an estoppel. Admittedly the full and final satisfaction was acknowledged by a receipt in writing and the amount was received unconditionally. Thus there is accord and satisfaction-by final settlement of the claims. The subsequent allegation of coercion is an after thought and a devise to get over the settlement of the dispute, acceptance of the payment and receipt voluntarily given. In Russal on Arbitration, 19th Ed., p. 396 it is stated that "an accord and satisfaction may be pleaded in an action on award and will constitute a good defence." Accordingly, we hold that the appellant having acknowledged the settlement and also accepted measurements and having received the amount in full and final settlement of the claim, there is accord and satisfaction. There is no existing arbitrable dispute for reference to the arbitration. The High Court is, therefore, right in its finding in this behalf. The appeals are dismissed but in the circumstances without costs.
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