https://www.taxtmi.com/caselaws?id=105913 Where an undertaking is closed and the arrangement does not amount to a statutory transfer, workmen remain entitled to closure compensation under the Industrial Disputes Act. The transferee corporation is not liable as a successor to absorb the workmen or pay such compensation. The workmen's claim survives against the party legally liable on closure, and the Labour Court may compute the monetary claims in computation proceedings. A closure driven by financial reasons is not treated as a closure caused by unavoidable circumstances beyond the employer's control. Liability was therefore fastened on the Union of India, not the transferee corporation. en-us Thu, 01 Feb 2001 00:00:00 +0530 Tue, 27 Aug 2013 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105913 Where an undertaking is closed and the arrangement does not amount to a statutory transfer, workmen remain entitled to closure compensation under the Industrial Disputes Act. The transferee corporation is not liable as a successor to absorb the workmen or pay such compensation. The workmen's claim survives against the party legally liable on closure, and the Labour Court may compute the monetary claims in computation proceedings. A closure driven by financial reasons is not treated as a closure caused by unavoidable circumstances beyond the employer's control. Liability was therefore fastened on the Union of India, not the transferee corporation. Case-Laws Companies Law Thu, 01 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105913