valid as on 17/12/2018

Section 240. Liability of officers in respect of offences committed prior to merger, amalgamation, etc
Effective from 15-12-2016

Notwithstanding anything in any other law for the time being in force, the liability in respect of offences committed under this Act by the in default, of the transferor company prior to its merger, amalgamation or acquisition shall continue after such merger, amalgamation or acquisition.

2(59) Officer includes any director, manager or key managerial personnel or any person in accordance with whose directions or instructions the Board of Directors or any one or more of the directors is or are accustomed to act

Enforcement Notification S.O. 3677(E) dated 07/12/2016


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