(1) Every person who is a workman within the meaning of the Industrial Disputes Act, 1947 and has been immediately before the second day of October, 1982, employed in the textile undertakings, shall become on and from the appointed day an employee of the Corporation, and shall hold office or as the case may be service, in the Corporation with the same rights and privileges as to State Government contribution to Corporation.
Payment of amount to the owner Management of the Textile Undertaking Duty to deliver all assets Accounts Employees to continue 1 of 1956 14 of 1947 5 pension, gratuity and other matters as would have been admissible to him had the fight in relation to the said textile undertaking not been transferred to, and vested in, the Corporation and shall continue to do so unless and until his employment in the Corporation is duly terminated or until his remuneration, terms and conditions of employment are duly altered by the Corporation.
(2) Every person who is not a workman within the meaning of the Industrial Disputes Act, 1947 and who has been, immediately before the second day of October, 1982 employed in the said mills of the textile undertaking shall become, on and from the appointed day, an employee of the Corporation with the same right and privileges as to pension, gratuity and other matters as would have been admissible to him had the right in relation to such textile undertaking not been transferred to, and vested in, the Corporation and shall continue to do so unless and until his employment in the Corporation is duly terminated or until his remuneration, terms and conditions of employment &re duly altered by the Corporation.
(3) Notwithstanding any tiling contained in the Industrial Disputes Act, 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 textile undertaking to the 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.