Section 396A – The Companies Act,1956

The Companies Act, 1956

396A. Preservation of books and papers of amalgamated company.

1[396A. Preservation of books and papers of amalgamated company.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 first-mentioned company or its amalgamation or the acquisition of its shares.]

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1. Ins. by Act 31 of 1965, sec. 52 (w.e.f. 15-10-1965).

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