Termination of managerial employment
Dear Sir.
I am 52Yr Old Ex-Serviceman and an Engineer. I had been employed as a Full time employee for last 2.5 yrs with a Reputed 60 Yr old Pvt Company listed on NSE at Mumbai.
A year back, Company sold the Business in which I was employed as a going concern and transfered all the junior employees to the buyer as per Business Transfer agreement (BTA). I was heading the Business and was not transfered but retained by existing company and was given a new role as Business Head for another division. Now this new division had some legacy projects and is now closed for new orders. So company has asked me to quit with 3 month notice period as per my employment terms.
I am a General Manager. I tried to use the 3 month period for looking for a new job but couldn't find one - due to age.
I want to know :-
1. Can company terminate my services citing closure of business.
2. Why I am the only one who is being terminated while teh remaining Jr Managers and employees are not touched. CEO told me that as I am drawing a large salary, hence I should quit.
3. Am I entitled to severance pay or the 3 months notice period is enough
4. Do I have legal options in this case? If yes, what is best course?
5. As I had submitted by resignation under coercion, should I withdraw it and dare company to terminate me?
Please advice asap as only 2 weeks are remaining (30 Jun) for the 3 months notice period to get over.
Asked 8 years ago in Labour
Thanks for the quick responses. Below is my response to opinion given above :-
1. I am told that Managerial employees who draw more than Rs 10,000 pm doesn't come under ID Act 1947. So how can I take legal route under ID act? Chennai case of IT company details are not known to me but from the case summary, the software devloper is not a Manager so will come under ID Act as decided by the court.
2. I was not given any termination letter but was asked verbally to submit my resignation. I did that on same day for amicable reasons but I haven't recieved any ack from my boss (CEO) or HR about its acceptance. However verbally I was told that it is accepted. So I guess I can still withdraw it siting poor job market and allowing me to continue till I find a new job. Pl advise if this is OK or any complications may arise. I am OK for some bad blood. Also note that I had three appraisals in my job so far with this company and was rate 'Good'. So I am NOT being asked to leave due to performance issues. This was also told verbally when I was asked to quit. Reason given verbally was that we don;t have any suitable role now to which I didn;t agree as there are roles in another division where I had 5+ yrs of expereince and laterla hiring is expected. But I was told that they want to hire someone from industry.
3. As per my terms of employment, either party can terminate the services by giving 3 months notice. But I was verbally asked to resign which I have done. Is this coercion?
4. Also as per some HR managers, I was told that employee can withdraw resignation even on last day. But in my case, since company never acknowledged acceptance of my resignation, I am very well within my rights to withdraw it. Please advice legal view on this.
5. If after withdrawing, company issues me a termination letter wout assigning any reason, what legal remedies are available?
6. In your opinion, what could be the legal scenarios and how they will be played out between company, self and courts?
7. What is typical time courts take in such cases? Will court issue a Stay on my termination?
8. What are typical lawyer fees and court fees for such cases. Approx expenditure and time period?
9. Will any one of you will be willing to take my case?
Thanks
Asked 8 years ago