Section 240 — Liability of officers in respect of offences committed prior to merger, amalgamation, etc
Notwithstanding anything in any other law for the time being in force, the liability in respect of offences
committed under this Act by the officers in defa ult, of the transferor company prior to its merger,
amalgamation or acquisition shall continue after such merger, amalgamation or acquisition.
Related sections
- Section 230 — Power to compromise or make arrangements with creditors and members
- Section 231 — Power of Tribunal to enforce compromise or arrangement
- Section 232 — Merger and amalgamation of companies
- Section 233 — Merger or amalgamation of certain companies
- Section 234 — Merger or amalgamation o f company with foreign company
- Section 235 — Power to acquire shares of shareholders dissenting from scheme or contract approved by
- Section 236 — Purchase of minority shareholding
- Section 237 — Power of Central Government to provide for amalgamation of companies in public
- Section 238 — Registration of offer of schemes involving transfer of shares
- Section 239 — Preservation of books and papers of amalgamated companies