Section 25FFF of IDA : Section 25Fff: Compensation To Workmen In Case Of Closing Down Of Undertakings
IDA
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Explanation using Example
Imagine a scenario where XYZ Textiles Ltd., a garment manufacturing company, has been facing financial difficulties due to a severe market downturn. The company has accumulated a large stock of unsold inventory and is unable to recover its costs. After considering various options, the management decides to close down the undertaking.
According to Section 25FFF of The Industrial Disputes Act, 1947, the workers employed at XYZ Te...
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