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The Companies Act, 2013

Chapter XV - Compromise, Arrangements And Amalgamations (230-240)

Section 240- Liability of officers in respect of offences committed prior to merger, amalgamation, etc.

Section 240 notified with effect from 15.12.2016 vide S.O. 3676 (E) dated 07.12.2016]

Section 240- Liability of officers in respect of offences committed prior to merger, amalgamation, etc. [New Provision]

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 default, of the transferor company prior to its merger, amalgamation or acquisition shall continue after such merger, amalgamation or acquisition.