Factory closer

Ours is General electrical Power India Ltd Shahabad Karnataka state. Company has intimated in Bombay stock exchange closer of factory with effect from 10th October 2018. and simultaneously applied before Karnataka Govt. The conciliation proceedings before Asst. Labour commissioner Karnataka were ended in failure after prolonged eleven months. The issue with Karnataka Govt for final decision. In the mean time management would like to sale works, bare land of 600 acres, Township of eight hundred quarters new party just for 65 crores. Operating unions ( 3 ) of the company objected for sale of property. in spite of objection management is taking all action to sale the entire property without settlement of working class issue. Question. No.1 Whether management can sale the entire property without settlement of labour issue, and new buyer can start his production with new labours. 2. Whether management can go for legal action to vacate employees quarter without settlement of labour issue. Satyanarayan Joshi