Which company gives salary in case of merger of two companies
22-Apr-2023 (In Labour & Service Law)
Our company was a loss making PSU and now has been merged with anothe company. We 300 engineers(approx.) are working on contract basis , now as merger has occurred and our company has been made subsidiary of NBCC what are our chances of job security in future with respect to present conditions, and what about the salary paid to us??
In the given situation, the company which bought the said failed PSU, will be held responsible for paying full and final settlement to the employees. Here, NBCC will be held responsible for paying the respective settlements/salaries /remuneration to the employees.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Labour & Service lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."