Provisions relating to personnel.

(1) The State Government may by a transfer scheme provide for the transfer of the personnel to Transco, generating company(ies) and distribution companies; on the vesting of properties, rights and liabilities in the Transco or generating company(ies) under section 23. (2) Upon such transfer scheme the personnel, shall hold office or service under Transco or generating company(ies), as the case may be, on terms and conditions that may be determined in accordance with the transfer scheme: Provided that such terms and conditions on the transfer shall not in any way be less favourable than these which would have been applicable to them if there had been no such vesting. (3) Notwithstanding anything contained in the Industrial Disputes Act, 1947 or any other law as is applicable, and except for the provisions made in this Act, the transfer of the employment of the personnel referred to in sub-section (1) shall not entitle such employees to any compensation or damages under this Act, or any other Central or State law or under the general law, save as provided in the transfer scheme.