Probation Period - Confirmation Letter

I am VP in a Company which is listed in the BSE/NSE. My appointment letter states that I shall be on probation for 6 months, or till such a period that I get my confirmation in writting. I have worked for over 26 months in this Company and am still on probation. Is there a time limit for the period of probation & what if I want to leave the Company or am sacked? Are there any specified rules for this. Till date no employee has received any confirmation letter,some have even served for more than 1-2 years.

Dear vipen_seth,
As per industrial dispute act if any employee work in organisation for more than 240 days then he will be entitled for all the benefits of permanent employee. As you have crossed the said limit and organisation had not given you any letter whether confirmation or termination of your service then you are impliedly confirmed(Confirmed by the act of employer) So legally you are confirmed (permanent employee) not on probation. If you want to leave the organisation then you have to follow process as per exit clause of your appointment letter. All the rules and regulations which apply to permanent employee you are also govern by them.
For more HR related information: White Eagle: legal aspect for Notice pay