Arbitration and Conciliation Act, 1996 (26 of 1996), Section 8 -- Agreement with arbitration clause – Subsequent final Settlement and MOU – Status of -- Where there is a subsequent Settlement Agreement, a valid contract can be extinguished -- Text of the Settlement Agreement is clear to the effect that this is a final settlement and MoU, with respect to the disputes and claims -- Arbitration clause in the original agreement would not be enforceable as this is a full and final settlement with respect to the contract and will be treated as a foreclosed document.

(Para 33)