Central Government has power to examine the books and papers, financial reports even after sanction of the scheme by National Company Law Tribunal - Elaborate the issue in relation to preservation of records of amalgamat

In terms of section 239 of the Companies Act, 2013 that corresponds to Section 396A of Companies Act, 1956, the books and papers of a company that has been amalgamated with or whose shares have been acquired by another company shall not be disposed of without obtaining prior permission of Central Government. Before granting such approval the Government is empowered to 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, formation or the management of the affairs of the transferor company or its amalgamation, or the acquisition of its shares.