1

X Ltd. amalgamated with Y Ltd. The transferee company decided to dispose of the books and papers of the X Ltd. in order to come up with maintenance of revised book and papers under the name of the transferee company to bring all the financial details of the amalgamated company also in the records. State the correct statement as to decision of the transferee company on the disposal of the Books and papers of the X Ltd.

  • A

    Decision of Transferee Company is invalid, as books and papers of the amalgamated company shall be maintained for at least three years.

  • B

    Decision of Transferee Company is invalid, as books and papers of amalgamated company shall be maintained for at least eight years.

  • C

    Decision of Transferee Company will be valid only on sanction of the prior permission of the Central Government.

  • D

    Decision of Transferee Company will be valid only after seeking prior permission of the requisite number of the creditors/shareholders of the amalgamated company.