Officer liability for pre merger offences continues after corporate merger, preserving statutory accountability of former company officers. Liability for offences under this Act committed by the officers in default of a transferor company prior to its merger, amalgamation or acquisition continues after such merger, amalgamation or acquisition, operating notwithstanding any other law to the contrary and preserving the statutory accountability of those officers post reorganisation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Officer liability for pre merger offences continues after corporate merger, preserving statutory accountability of former company officers.
Liability for offences under this Act committed by the officers in default of a transferor company prior to its merger, amalgamation or acquisition continues after such merger, amalgamation or acquisition, operating notwithstanding any other law to the contrary and preserving the statutory accountability of those officers post reorganisation.
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