Can company terminate an permanent employee without giving any reason for termination

I am working in a pvt org from last 2 years. During company financial crisis we help our company by taking sabbatical leave , salary cut but now new management forcing me to sign a contract letter for 1 years and cancelling the appointment letter which was issued me while joining the organisation. When I raised queries they are send me termination letter .

Please advise what should I do

No company can terminate the services of a permanent employee, without a valid and concrete reason. So you need not worry. Do not accept any contract letter, because you have already got
an appointment letter, which itself is a contract of employment. Please discuss this with your HR rep or with your reporting officer.

But today HR / management has blocked my official email id and they are not replying to my mails in which I had asked for reason for termination.

Mr Pankaj Please submit an application to the nearest Assistant Commissioner of Labour under Industrial disputes Act for your reinstatement with full back wages as you have been illegally terminated without following principal of natural justice.

If you are a 'workman' as per definitin of workman irrespective of your designation. In many company the employees have been designated as Assistant Manager/ Exeutives etc etc but their nature of work is of 'Workman' and not supervisory of managerial nature. If you are in the Supervisory of Managerial post then you have to approach civil court for breach of terms and conditions of contract of appointement.

You immediately file a case with labour office against your termination.