In force · As amended up to 2026-08
29. Power to terminate contract of employment.
If the Custodian is of opinion that any contract
of employment entered into by or on behalf of the old company at any time before the appointed day is
unduly onerous, he may, by giving to the employee one months notice in writing or the salary or wages
for one month in lieu thereof, terminate such contract of employment.
Source: India Code