239. Preservation of books and papers of amalgamated companies
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.