skg
12 October 2009 at 19:40
Thanks to Mr. Makkad opinion but I am waiting for more opinions from other experts also.
It seems that on Merger and acquisition there are limited case laws so far as benefits to employees of transferor company are considered.
More over it appears that Mergers are made only for the benefits of Management of transferee company and its employee that is why only one line clause like "terms
and condition of services applicable to employees of transferor company as on merger date will not be anyway less favorable to them then those applicable to them
immediately before the merger date" are written in such merger schemes for employees of transferor company.
In my opinion this clause should be precisely elaborated and defined in such schemes so that the employees who are not interested or feels that they will not be
prosperous in future due to this merger should opt for retenchment compensation from transferor company and search for new job instead of joining the transferee
company.But instead they were made to believe thru false propagandas by management of both companies that they will gain and be prosperous in future from this
merger.
Now it is clear that using this clause only the transferee company and its employee keep on enjoying benefits declared even after the merger date including statutory
benefits like bonus which is not covered in salary definition but arise from the profitability of the company.In this way I think that Government machinery and High
courts sanctioning such schemes are only benefitting management and employees of transfree company and not the employees of transferor company who thus start
feeling that they are still part of the sick company and the letter they received after merger saying that "We look forward to mutually strong and prosperous association
in future" will make them only stagnant and not prosperous as monetary gain to them have been denied.
One thing that I forget to ask in my earlier query was :
The board of directors of both comapnies in their respective meetings on same "x" date (which later on also declared as merger date in the proceedings of merger
scheme) gave their "in principle approval of proposed merger" and after 20 days from x date the transfree company management knowing that they are gaining several
crores, announced an incentive scheme for its employee.
Now my question is that whether employees of transferor company who became employee of transferee company with effect from "x" date as per letter issued to
them (after six month stating that they are now employees of transferee company wef x date) are eligible for this incentive or not, keeping in front the merger date "x"
and the the declared incentive date as "x+20 days".
rgds
skg
Jehangir A Kamal
12 October 2009 at 19:26
Hi
was looking for complete detail of new model bye laws for CHS
what % of extra charges can the society impose on the owner of a shop given on leave & licence .
Thankyou
Ram S
12 October 2009 at 17:24
I have entered in an agreement with one person, Mr Dakesh, for buying a plot here at Horamavu Village, Bangalore. The Seller has forged the documents and has taken an advance of Rs. Three Lakhs and fifty Thousand from me. When asked for the refund of the advance money, he has provided two Cheques, which have bounced twice, due to insiffiecient funds.
Please advice me how I should proceed further to getback my hard earned money back.
P.C. Joshi
12 October 2009 at 17:23
I want to know what are the different kinds of civils suits which can be filed in a civil court under different orders of CPC, 1908.
What is order 38 of Civil Procedure code. Does it cover civil suit filed for recovery of receivables not paid by a
customer.
Regards
P.c. Joshi
thiagarajan
12 October 2009 at 17:15
I had been cheated by delhi based visa consultant i want to file a case against them and also the taken my money about rs.1.22lakhs.
ajeet bhandari
12 October 2009 at 17:12
Recently i had bought property sold by bank through auction . Constructed building is 5 floor.I had already paid 25% towards cost of property.
Now i understood that building constructed on it is Unapproved and Unauthorised.Unauthorised construction was not mentioned by bank in there advertisement of auction Where as they had mentioned "As is where is Condition".Now i understood that only 1+1 Floor is approved construction.So please please suggest me remedy for this problem and let me know the defination of As is where is co9ndition.
S. Raghuraman
12 October 2009 at 16:50
Kindly clarify:
I have not settled the final bill from BSNL for Rs.2222/- before my request for disconnection. I requested them to adjust the bill against my deposits totalling in all to around Rs.3000. Their records show only Rs.500/- to my credit before adjustment of the said bill. They claim that they have the right under the Indian Telegraphs Act to get terminated the services provided to me by other service providers in case I do not pay the said sum early. Do they have this right?
Pawan Patil
12 October 2009 at 16:32
Sir
My wife has petition case for maintenance (Podagi ) at pimpari Court under domestic Violence Act 2005.
I have made put up case in Pune Court for divorce on cruelty bases on 2007?
The case on going on
My wife has also made petition case at Kalyan court for maintenance
The said case is also going on
I have no job at right now, How much I have to pay maintenance (Podgi) her as per domestic Violence Act 2005 ?
Regards,Choudhari Vilas
Shivasurya
12 October 2009 at 16:10
Dear experts, I need a copy of G.O.M.S. No.311, dated 09-02-1975, issued by Government of Tamilnadu regarding land ceiling/land acqiusition. In the year 1960, the Government of Tamilnadu acquired land from its owners and by G.O.M.S. No.311, dated 09-02-1975, the acquired lands were returned to the owners, kindly provide the copy of the said G.O. or guide me how to get the G.O.
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