Option 1: Labour Court is a part of machinery that settles industrial disputes. It is a judicial body that specifically deals with labor-related cases and disputes between employers and employees.
Option 2: Industrial Tribunal also plays a role in settling industrial disputes. It is a specialized forum that hears and resolves conflicts between employers and workers, especially those pertaining to terms of employment, work conditions, or unfair practices.
Option 3: Work Committee is not a part of machinery that settles industrial disputes. It is rather a consultative body formed within an organization to foster communication and cooperation between employers and employees.
Option 4: All options are correct. This means that both the Labour Court and the Industrial Tribunal are part of the machinery that settles industrial disputes, making this option the correct choice.
Overall, the correct answer is option 4 as it correctly includes all the relevant options.