News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 21 years ago
Rediff.com  » Business » 'No BIFR, CLB employee will lose job'

'No BIFR, CLB employee will lose job'

Source: PTI
December 17, 2002 14:39 IST
Get Rediff News in your Inbox:
Finance Minister Jaswant Singh on Tuesday assured the Rajya Sabha that no employee of the Board for Industrial and Financial Reconstruction and Company Law board would be retrenched when these were disbanded and merged into National Company Law Tribunal.

"We will assure that all those persons in the existing arrangements are absorbed to the maximum possible. Nobody will lose their job," Singh said responding to concerns expressed by members during the discussion on the Companies (Amendment) Bills.

The finance minister said if all of them were not being absorbed in the Tribunal, they would be absorbed elsewhere in the department.

The Tribunal would have 63 members and 25 benches, he said.

Singh gave this assurance when former Law Minister and senior Congress leader Hansraj Bharadwaj wanted to know what would happen to the fate of employees in BIFR, AIFR and CLB when they were merged into the Tribunal which the Bill proposed to set up.

"In the process of economic liberalisation, the government is not caring for old employees. Allow them to work in the Tribunal," Bharadwaj said lauding the Bill saying it was the need of the hour.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!