Section 8 in Bolani Ores Limited (Acquisition of Shares) And Miscellaneous Provisions Act, 1978.
8. Provisions relating to officers and other employees of dissolved company.-
(1)Every officer (not being a director) or other employee holding office immediately before the appointed day in the dissolved company in relation to any undertaking of such company, shall, as from the appointed day, contrive to hold office as such in respect of the undertaking vested in the steel Authority of India by virtue of section 6, by the same tenure and upon the same terms and conditions of service and with the same rights and privileges as to retirement benefits as would have been admissible to him if the company in which he was holding office had not been dissolved and shall contrite to dos unless and until such tenure and terms and conditions are duly altered by the Steel Authority of India.(2)Notwithstanding anything contained in sub-section (1), rules relating to the conditions of service and Standing Orders applicable to the officers or other employees referred to in sub-section (1), as immediately before the appointed day, shall continue to apply unless and until they are duly altered by the steel Authority of India.
