Companies Act Section 239 — Preservation of books and papers of amalgamated companies
CHAPTER XV COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS
Commercial / Corporate
Summary
The books and papers of a company that has been merged into another company, or whose shares have been bought by another company under this Chapter, cannot be thrown away, destroyed, or otherwise disposed of without first getting permission from the Central Government. Before granting that permission, the Government may appoint a person to examine the books and papers, or any of them, to check whether they contain any evidence that an offence was committed in connection with the promotion or formation of the original company, the management of its affairs, its merger, or the purchase of its shares.
Official Text
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.