(7) For the transfer to and vesting in the Central Government under section 3 of the shares of Caltex Oil Refining and for the transfer to and vesting in the Central Government under section 5 of the right, title and interest of Caltex (India) in relation to its undertakings in India, there shall be paid by the Central Government an aggregate amount of rupees thirteen crores to Caltex Petroleum and Caltex (India) in the proportions agreed to by them.
Payment of amount to Caltex Petroleum and Caltex (India).
(2) The amount specified in sub-section (1) shall carry interest free of income-tax at the rate of eight per cent, per annum from the 1st day of January, 1977, till the date of payment in the manner specified in the Schedule.
(3) The amounts payable under sub-sections (1) and (2) shall be payable in instalments in accordance with the provisions of the Schedule.
(4) In addition to the amounts mentioned in sub-sections (1) and (2), the Central Government shall pay to Caltex Petroleum or Caltex (India), as the case may be, such amount in Indian currency as may be required by the said companies to pay towards all taxes in India on the amounts payable under the said sub-sections and all other taxes in India the liability for the payment of which arises directly on the transfer to and vesting in the Central Government of the shares of Caltex Oil Refining and of the undertakings of Caltex (India) in India.
CHAPTER V PROVISIONS RELATING TO EMPLOYEES
11. (/) Every whole-time officer or other employee of Caltex (India) who was, immediately before the appointed day, employed by Caltex (India) in connection with its undertakings in India, and every wholetime officer or other employee of Caltex (India) who was, Immediately before the appointed day, temporarily holding any assignment outside India shall, on the appointed day, become an officer or other employee, as the case may be, of the Central Government or the Government company (hereinafter referred to as the successor Government company) in which the right, title and interest of Caltex (India,) in relation to its undertakings in India have vested under this Ordinance and shall hold office or service under the Central Government or the successor Government company, as the case may be, on the same terms and conditions and with the same rights to pension, gratuity and other matters as would have been admissible to him if there had been no such vesting and shall continue to do so unless and until his employment under the Central Government or the successor Government company is duly terminated or until his remuneration and conditions of service are duly altered by the Central Government or the successor Government company.
Transfei of service of existing employees of Caltex (India), etc.
(2) Subject to rules made in this behalf under section 23, every wholetime officer or other employee of Caltex Oil Refining who was, immediately before the appointed day, employed by Caltex Ol Refining in India, and every whole-tima officer or other employee of Caltex Oil Refining who was, immediately before the appointed day, temporarily holding She. 11 THE GAZETTE OF INDIA EXTRAORDINARY 1527 any assignment outside India shall, on and from that day, continue to be an officer or other employee of Caltex Oil Refining on the same terms and conditions and with the same rights to pension, gratuity and other matters as are admissible to him immediately before that day and shall continue to hold such office unless and until his employment under the Caltex Oil Refining is duly terminated or until his remuneration and conditions of service are duly altered by that company.
(3) If any question arises as to whether any person was a whole-time officer or other employee of Caltex (India), or as to whether any officer or other employee was employed wholly or mainly in connection with the undertakings of Caltex (India) in India immediately before the appointed day, or whether any whole-time officer or other employee of Caltex (India) was temporarily holding any assignment outside India, the question shall be referred, within a period of two years from the appointed day, to the Central Government which shal], after giving an opportunity of being heard to the person concerned in the matter, decide it in such manner as it thinks fit and such decision shall be final.
(4) Notwithstanding anything contained in the Industrial Disputes Act, 1947, the Payment of Gratuity Act, 1972, or in any other law for the time being in force, the transfer of the services of any officer or other employee under sub-section (1) shall not entitle any such officer or other employee to any compensation or gratuity under those Acts or such other law, and no such claim shall be entertained by any court, tribunal or other authority.
14 of 1947.
39 of 1972.