Home»Corporate Law»Companies Act 2013»Section 240 – Liability of officers in respect of offences committed prior to merger, amalgamation, etc.

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

Section 240 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.

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

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