Section 14 in The Parel Investments and Trading Private Limited and Domestic Gas Private Limited (Taking Over of Management) Act, 1979
14. Powerto terminate contract of employment:
If the Custodian is of the opinion that anycontract of employment entered into by either of the two companies in relationto the undertaking of such company, at any time before the appointed day, isunduly onerous, it may, by giving to the employee one month’s notice in writingor the salary or wages for one months in lieu thereof, terminate such contractof employment.
