Section 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.