Ours is a manufactuing company having it factory in Mumbai. We are having Representative Union and the same is recognised for the purpose of bargaining.
We have entered into 3 settlement with the said Union and the present LTS has expired in the month of June 2013. The union has given us the statutory notice two months prior showing their intention to terminate the present LTS and served the Charter of Demand on the management for further negotiations.
The Charter of demand served seems to be complicated and it is apprehended to have a hot discussion and predictment of settlemnt amicably cannot be forcasted for atleast a year or so.
My question is whether there is any citation which says that the LTS agreement should be signed retrospectively i.e. from the date of expiry of the LTS or prospectively i.e. from the date both the parties enter into a consensus i.e. after 1 or 2 years or so.
What is the criteria for entering into an LTS with the Union. if the company be adamant that they will sign the agreement from the date of agreement of both the parties and not retrospectively i.e. from the date of the expiry of the agreement, whether it hold good in the eyes of the law.
Kindly elucidate with citation please.