law: Company Secretaries Act, 1980
  33. Provisions Respecting Employees of the Dissolved Company
  (1) Every person employed in the dissolved
  
  company and continuing in its employment immediately before the commencement of
  
  this Act shall, as from such commencement, become an employee of the Institute,
  
  shall hold his office or service therein by the same tenure and upon the same terms
  
  and conditions and with the same rights and privileges as to pension and
  
  gratuity as he would have held the same under the dissolved company if this Act
  
  had not been passed, and shall continue to do so unless and until his
  
  employment in the Institute is terminated or until his remuneration, terms and
  
  conditions of employment are duly altered by the Institute.
  (2) Notwithstanding anything contained in the Industrial Disputes Act, 1947,
  
  (14 of 1947), or in any other law for the time being in force, the transfer of
  
  the services of any employee of the dissolved company to the Institute shall
  
  not entitle any such employee to any compensation under that Act or other law,
  
  and no such claim shall be entertained by any court, tribunal or other
  
  authority.