Section 347 — Disposal of books and papers of company

1[(1) When the affairs of a company have been
completely wound up and it is about to be dissolved, the books and papers of such company and those of
the Company Liquidator may be disposed of in such manner as the Tribunal directs.]
(2) After the expiry of five years from the dissolution of the company, no responsibility shall devolve
on the company, the Company Liquidator, or any person to whom the custody of the books and papers has
been entrusted, by reason of any book or paper not being forthcoming to any person claiming to be
interested therein.
(3) The Central Government may, by rules,—
(a) prevent for such period as it thinks proper the destruction of the books and papers of a company
which has been wound up and of its Company Liquidator; and
(b) enable any creditor or contributory of the company to make representations to the Central
Government in respect of the matters specified in clause ( a) and to appeal to the Tribunal from any
order which may be made by the Central Government in the matter.
(4) If any person acts in contravention of any rule framed or an order made under sub -section (3), he