Amalgamation of companies

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As per sec 394 of Companies act 1956,transfer of properties rights of one co. to another does not automatically transfer contract of service While sec 232 of Companies act 2013 specifically includes transfer of employee of transferor co to transferee co.

Whether employee can object under Companies act 2013 to join new co. and claim compensation?

Replies (1)
394 is amalgamation by sale 232 deals with mergers and acquisitions. employees can object in CA 2013.compensation depends on type of company and terms of contract.

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