Section 13(1) in The India Belting And Cotton Mills Limited (Acquisition And Transfer Of Undertakings) Act, 1992
(1)Every person who has been, immediately before the appointed day, employed in any of the undertakings of the Company shall become, -(a)on and from the appointed day, an employee of the State Government, and(b)where the undertakings of the Company are directed to vest, under sub-section (1) of section 6, in an existing Government company, or under sub-section (1) of section 7, in a new Government company, an employee of such Government company on and from the date of such vesting,and shall hold office or service under the State Government or the existing, or new, Government company, as the case 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 or transfer and shall continue to do so unless and until his employment under the State Government or the existing, or new, Government company, as the case may be, is duly terminated or until his remuneration and other conditions of service are duly altered by the State Government or the existing, or new, Government company, as the case may be.
