JUDGMENT

V.N. Khare, CJI.-This appeal which arises out of a judgment and order dated 23-11-2001 passed by the High Court of Kerala at Ernakulam revolves round the question as to whether an arbitration clause in a contract agreement survives despite purported satisfaction thereof.

2. The parties to this appeal entered into an agreement for a project at Kayamkulam. Upon completion of the work the respondent herein submitted final bill which was allegedly not accepted by the appellant, whereafter they themselves prepared the final bill and forwarded the same along with a printed format being a "No Demand Certificate". The said "No Demand Certificate" was signed by the respondent herein which is in the following terms:

NO DEMAND CERTIFICATE

Name of package : Earth filling in Temporary Township Part - II

Letter of award : LOA No. KYM/CS/89/ 022/NIT-005/LOA-065 dated 19.3.90

Name of Contractor : Reshmi Construction, T.C. 4/1298, Keston Road, Kowdiar