Amended and updated notes on section 239 of Companies Act 2013. Detail discussion on provisions and rules related to preservation of books and papers of amalgamated companies.
Chapter XV (Sections 230–240) of the Companies Act, 2013 (CA 2013) deals with the provisions related to Compromises, Arrangements and Amalgamations. Section 239 of CA 2013 provides for preservation of books and papers of amalgamated companies.
Recently, we have discussed in detail section 238 (Registration of offer of schemes involving transfer of shares) of CA 2013. Today, we learn the provisions of section 239 of Companies Act 2013.
The provisions of section 239 are effective from 15-Dec-2016. You may refer Notification No. S.O. 3677(E) issued dated 07-12-2016. In this article, you will learn detail of the provisions of section 239 of the Companies Act 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XV |
| Chapter Name | Compromises, Arrangements and Amalgamations |
| Section No. | 239 |
| Section Name | Preservation of books and papers of amalgamated companies |
| Monthly Updated Edition | Company Law PDF |
Section 239 of Companies Act 2013: Preservation of books and papers of amalgamated companies
Section 239 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.
The books and papers of a company which has been amalgamated with, or whose shares have been acquired by, another company under this Chapter shall not be disposed of without the prior permission of the Central Government and before granting such permission, that Government may appoint a person to examine the books and papers or any of them for the purpose of ascertaining whether they contain any evidence of the commission of an offence in connection with the promotion or formation, or the management of the affairs, of the transferor company or its amalgamation or the acquisition of its shares.