Section 240 of the Companies Act, 2013: Liability of officers in respect of offences committed prior to merger, amalgamation, etc.

The Companies Act, 2013

Chapter-XV Compromises, Arrangements and Amalgamations

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

*240. 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.


Reference

*Effective from 15.12.2016.


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