Section 12(1) in The Gresham And Craven Of Indian (Private) Limited (Acquisition And Transfer Of Undertakings) Act, 1977
(1)Every person who has been, immediately before the appointed day, employed in any undertaking of the Company shall become, on and from the appointed day, or such later date, as the case may be, an employee of the Braithwaite and Company Limited, or, as the case may be, of the Government company in which the right, title and interest of the Company in relation to its undertakings, have vested under this Act, and shall hold office or service under the Braithwaite and Company Limited, or the Government company, as the cash may be, with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if there had been no such vesting and shall continue to do so unless and until his employment under the Braithwaite and Company Limited, or the Government company, as the case may be, is duly terminated or until his remuneration, and other conditions of service are duly altered by the Braithwaite and Company Limited, or by the Government company, as the case may be.
