Corporate Restructuring: Who Cares for the Employees?
Published: 2012
Author(s) Name: Fincy Pellisserry |
Author(s) Affiliation: Assistant Professor, School of Law, Christ University, Bangalore
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Abstract
In the era of globalization the
need to strike a balance between
employee security and business
requirements has become crucial.
Mergers and acquisition laws allow
the companies to restructure
for various reasons. The Companies
Act duly recognizes and protects
the interests of the creditors
and shareholders, whereas the
employees have no say during the
merger and they are forced to
accept the terms prescribed by the
employer during the transfer of
an undertaking. This paper examines
the extent to which the existing
legal regime protects the interest
of the employees during the
transfer of an undertaking. The
paper also gives some suggestions
for improving and protecting
the labor force during corporate
restructuring.
Keywords: N.A.
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