Section 240 of Companies Act, 2013

240. Liability of officers in respect of offences committed prior to merger, amalgamation, etc

Notwithstanding anything in any other law for the time being in force, the

liability in respect of offences committed under this Act by the officers in default, of the

transferor company prior to its merger, amalgamation or acquisition shall continue after

such merger, amalgamation or acquisition.

Complete: companies-act-2013