Section 7(1) in The Basumati Private Limited (Acquisition Of Undertaking) Act, 1974
(1)Every person who is a workman within the meaning of the Industrial Disputes Act, 1947, and has been, immediately before the appointed day, in the employment of the company shall, on and from the appointed day, be deemed to be reappointed as an employee of the State Government or, as the case may be, of the corporation in which the undertaking may be vested by an order under sub-section (1) of section 6 and shall hold office on the same terms and conditions and with the same rights to pay, gratuity and other matters as would have been admissible to him if the undertaking of the company had not been vested in the State Government or in such corporation, as the case may be, and continue to do so unless and until his employment is duly terminated or until his remuneration, terms and conditions of employment are duly altered by the State Government or such corporation, as the case may be.
