Amendment status not verified — confirm the current text below against the official source.
MaiL gement. etc., of the undertaking and the land vested in Government.—The State Industrial Development Corporation or any person which that Corporation may, by order in writing, specify, shall be entitled to exercise the powers of general superintendence, direction, control and 6anagemeit of the affairs and business of the undertaking, the right, title and intert of an owner in relation to which have vested in that Corporation under. sub-section (2) of section 3, and do all such things as the owner of the undertaking is authorised to exercise and do. 33/63712018lS-. 10 Duty, of persons in charge of management qf the undertaking to deliver all assets, etc.—On the vesting of the management of the undertaking in the State Industrial Development Corporation, all persons in charge of the management of undertaking immediately before such vesting shall be bound to deliver to the State Industrial Development Corporation all assets, books of account, registers or other documents in their custody relating to the said undertaking. Accounts.—The State Industrial Development Corporation shall maintain the accounts of the said undertaking in accordance with the provisions of the Companies Act, 1956 (Central Act I of 1956). CHAPTER V PROVISIONS RELATING TO EMPLOYEES OF THE UNDERTAKING Employment of certain employees to continue.—( 1) Every person who is a workman within the meaning of the Industrial Disputes Act, 1947 (Central Act 14 of 1947), and has been immediately before 1St February, 2009, employed in the undertaking shall become, on and from the date of commencement of this Act, an employee of the State Industrial Development Corporation with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if the rights in relation to the undertaking had not been transferred to, and vested in, the Government and shall continue to do so unless and until his employment in the State Industrial Development Corporation is duly terminated or until his remuneration, terms and conditions of employment are duly altered by the State Industrial Development Corporation. (2) Every person who is not a workman within the meaning of the Industrial Disputes Act, 1947 (Central Act 14 of 1947), and who has been, immediately before 1st February, 2009, employed in the undertaking shall, in so far as such person is employed in connection with the undertaking which has vested in the Government become, on and from the date of commencement of this Act, an employee, of the State Industrial Development Corporation and shall hold his office or service therein by -. the same tenure, at. the same remuneration and upon the same terms and iF 11 conditions and vith the same rights and privileges as to pension and gratuity and other natters 'as he would have held the same under the undertaking if it had not vestedin the State 1ndutrial Development Corporation and4hall continue to do so unless and until his employment in the State Industrial Development Corporation is duly terminated or until his remuneration, ter6s and conditions of employment are duly altered by the' State 1ndustriaiIevelopment Corporation. ' (3) Notwithstanding anything contained in the Industrial Disputes Act. 1947' (Central Act 14 of 1947), or in any other law for the time being " in force, the, trmnsfer of the services of any officer or other 'person employed in tle undertaking 'to the State Industrial Development Corporation shll not entitle such officer or other emloyee to any compensation under this Act or any other law for the time being in force, and no such claimhall be entertained by any court, tribunal or other authority. (4) Where, under the terms of any contract of service or otherwise, no berson whose services become terminated or 'whose, services become transferred to the State Industrial Development Corporation' byreason of the provisions of this Act is entitled to any arrears of salary or wages or any payment for any leave not availed of or other paymem1lt, not being payment by way 'of gratuity or pension, for any period prir to the 1st day of February, 2009, such person 'may. except to the extent such liability has been taken over by the' Government Ell üñder section 5J enforce his claim against the owner of the undertaking but not against the Government or the State Industrial Development C'nrpratio'n.