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Winding up a subsidiary company
01-May-2023 (In Labour & Service Law)
We work in a government company which is a subsidiary of another company. Due to losses, the holding company may close this subsidiary company. We are 3 employees on a permanent payroll of the subsidiary company. If the subsidiary company gets closed, will the employees be sacked by the holding companies?
Subsidiary Company is a separate Company by its own standing. The holding Company has a share in it. You will be offered a VRS for quitting & if you do not take VRS then you may be transferred to remote places.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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