skg
10 October 2009 at 00:23
Dear legal experts,
please give your valuable advice on "bonus/exgratia/other type of payments to employees of transferor company" issue on amalgamation and mergers of two companies having synergies in their businesses.
Facts : A sick company(transferor company) gets merged with a profit making company (transferee company) thru a scheme of amalgamation as per approval of MCA AND HIGH COURT ORDER AS PER PROCEDURES LAID DOWN DURING MERGERS.
The transferee company is getting several benefits worth crores under Income tax and sale tax heads due to this merger.
For employees of transferor company there is a clause which states that "due to this merger their benefits will not be less favorable then those they were getting before this merger".
The transferee company convert the salary structure of employees of transferor company as per salary structure of transferee company wef merger date.
Now at the time of releasing bonus/exgratia the transferee company did not give the same percentage of bonus/exgratia to employees of transferor company by saying that they were only entitled to that minimum bonus which they were getting before this merger and in this way this is not less favorable to them as per clause of amalgamation.
My question is on this very issue.
Since wef merger date employees of transferor company have become employee of transferee company why the employees of transferor company not entitled to that percentage of bonus (which as per definition do not constitute part of salary but is derived from profitability of companies).
If the merger permits the transferee company to enjoy benefits of several crores wef merger date then why after this merger date the employees of transferor company are treated differently from employees of transferee company.
Isn't this a discrimination between employees and hence can this merger be challenged by emoployee(s) of transferor company on grounds of this discrimination i.e. employees are given different bonus/exgratia percentages after merger date.
Broadly speaking my question in general will become :
Whether the quote in the clause "will not be less favorable to them after this merger" implies that in future also i.e. even after this merger date the employees of transferor company are not eligible for those benefits enjoyed by employees of transferee company and will be on mercy of management of transferee company and they will always remain employees of sick transferor company and accordingly the benefits of profits of transferee company will not be passed to them as passed on to existing employees of transferee comapany.
Whether the revival of sick company due to mergers is not the revival of its employees?
Please provide some case laws/judgements against this discrimination on Bonus/benefit to employees of transferor company after mergers.
Rgds
skg
skg
09 October 2009 at 23:13
Dear legal experts,
I am really thankful to all of you for your valuable advice on justification of telephonic recordings and print out of email as evidences in court.
In continuation of the same can I have some judgements/case laws specially by Hon'ble Supreme Court or Hon'ble High Courts or even from District Courts.
With warm regds
skg
sunil
09 October 2009 at 19:52
Respected Sir/Madam,
I have submitted resignation from my centeral govt. post for relieving me with immediate effect.I have also deposited one months salary for the one months notice period.There is no other dues against me. No vigilance/ disciplinary action is pending against me.But the department has not accepted my resignation even after one week and Deppt. is not relieving me.But I am not able to continue my duty. As I have to join another post.I have applied for new job without giving any notice to my present deppt.Can I go prior to
acceptance of my resignation by taking leave or remaining absent. So that I may join the other job?
anshul sangal
09 October 2009 at 15:59
What is authorised deduction and what penalties not deemed to be deduction under Payment of Wages Act 1936.
anshul sangal
09 October 2009 at 15:55
What are the various mode of recovery of money under Employee provident funds and miscellaneous provision act 1952.
anshul sangal
09 October 2009 at 15:52
What are the conditions when an employer are entitled to recover the money contributed from contractor under Employees Provident funds and miscellaneous act 1952
N.Kiran Kumar
09 October 2009 at 13:44
Please advise us can we split the minimum wage in to different components such as BASIC,HRA,CONVEYANCE etc..
skg
07 October 2009 at 23:53
Dear legal experts,
My query is whether in our judicial system covering civil/criminal/labour or any other cases telephone recordings or printout of email documents can be used as evidence in court.
V.PAVAN KUMAR
07 October 2009 at 16:57
Respected Sir,
Few of our resigned employees have joined in other organisations, without settling their account with the previous employer i.e. our company.
We would like to issue a notice to such employees requesting to settle their account amicably within 15 days from the date of receipt of the notice.
If they fail to settle theIr account within the stipulated period, we would be constrained to take appropriate legal action against him, without any further notice.
In this connection, I shall be grateful if you could kindly provide me sample notice format so as to enable me to take further course of action.
Regards,
V.PAVAN KUMAR
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13 oct 2009 general assembly election holiday
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