(1) Settlement Committee may resolve the disputes between the Development Authority and any other person.
(2) The Committee may, taking into consideration of merit of the each case, compromise or withdraw any dispute pending in any legal proceeding in a court of law.
(3) The Committee for a Development Authority constituted under sub-rule (2) or
(3) of rule 3, as the case may be. may resolve the dispute relating to a property of which the approximate cost, based on prevailing reserve price, is not more than rupees one crore. The Committee, considering the merits of the case may relax or waive the interest or penalty or fee or any other dues for an amo five lakhs.
(4) The decision given by Settlement Committee shall be binding on the Development Authority.