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No Amalgamation Benefits for Former Employees

This Connect provides a brief overview of the judgement of Sikkim High Court in the case of Homnath Neopaney & Oothers vs. National Hydro Electric Power Corporation Limited and Others wherein it was ruled that the employee protection and deemed absorption clause in an approved scheme of amalgamation applies exclusively to individuals who remain active employees on the rolls of the transferor company on the date the scheme becomes effective.

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