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CS Executive · Company Law and Practice · Introduction to Company Law

Meena was an officer appointed on regular basis by the Company Law Board, and Karan was an officer on deputation to it who does not fulfil the qualifications under the Act. On dissolution of the Board under section 466 of the Companies Act, 2013, what is the position?

Regular employees of the Company Law Board, like Meena, become employees of the Tribunal or Appellate Tribunal with the same pension, gratuity and similar benefits. A deputationist who lacks the required qualifications, like Karan, reverts to his parent cadre, Ministry or Department. No compensation can be claimed by those who transfer.

  1. ABoth stand reverted to their parent cadres
  2. BMeena becomes an officer of the Tribunal or Appellate Tribunal with same pension and gratuity rights; Karan stands reverted to his parent cadre, Ministry or DepartmentCorrect
  3. CBoth become employees of the Tribunal and may claim compensation under the Industrial Disputes Act, 1947
  4. DMeena must vacate office with compensation; Karan becomes an employee of the Tribunal

Explanation

Regular employees of the Board become employees of the Tribunal or Appellate Tribunal with the same rights as to pension, gratuity and like benefits. A deputationist who does not fulfil the qualifications stands reverted to the parent cadre. Those who become employees cannot claim compensation under any law.

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