(1) Every person who is a workman within the meaning of the Industrial Disputes Act, 1947 (Central Act 14 of 1947), and has been immediately before 1st February, 2009, employed in the undertaking shall become, on and from the date of commencement of this Act, an employee of the State Industrial Development Corporation with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if the rights in relation to the undertaking had not been transferred to, and vested in, the Government and shall continue to do so unless and until his employment in the State Industrial Development Corporation is duly terminated or until his remuneration, terms and conditions of employment are duly altered by the State Industrial Development Corporation.
(2) Every person who is not a workman within the meaning of the Industrial Disputes Act, 1947 (Central Act 14 of 1947), and who has been, immediately before Ist February, 2009, employed in the undertaking shall, in so far as such person is employed in connection with the undertaking which has vested in the Government become, on and from the date of commencement of this Act, an employee of the State Industrial Development Corporation and shall hold his office or service therein by the same tenure, at the same remuneration and upon the same terms and conditions and with the same rights and privileges as to pension and gratuity and other matters as he would have held the same under the undertaking if it had not vested in the State Industrial Development Corporation and shall continue to do so unless and until his employment in the State Industrial Development Corporation is duly terminated or until his remuneration, terms and conditions of employment are duly altered by the State Industrial Development Corporation.
(3) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (Central Act 14 of 1947), or in any other law for the time being in force, the transfer of the services of any officer or other person employed in the undertaking to the State Industrial Development Corporation shall not entitle such officer or other employee to any compensation under this Act or any other law for the time being in force, and no such claim shall be entertained by any court, tribunal or other authority.
(4) Where, under the terms of any contract of service or otherwise, no person whose services become terminated or whose services become transferred to the State Industrial Development Corporation by reason of the provisions of this Act is entitled to any arrears of salary or wages or any payment for any leave not availed of or other payment, not being payment by way of gratuity or pension, for any period prior to the 1st day of February, 2009, such person may, except to the extent such liability has been taken over by the Government under section 5, enforce his claim against the owner of the undertaking but not against the Government or the State Industrial Development Corporation.