Public notice may be through print media, digital media or publishing on official website of the Corporation.

Default in performance of duty -(1)If the Government is of the opinion that the Corporation has made a default in the performance of any duty or obligation imposed or cast on it by or under this Act, the Government may fix a period for the performance of that duty or obligation and give notice to the Corporation accordingly.

1. (2) If the Corporation fails or neglects to perform such duty or obligation within the period so fixed for its performance, it shall be lawful for the Government to supersede and reconstitute the Corporation as it deems fit. (3)After the supersession of the Corporation and until it is reconstituted in the manner laid down in Chapter –II, the powers, duties and functions of the Corporation under this Act shall be carried on by the Government or by such officer or officers or Body of officers as the Government may appoint for this purpose, from time to time. (4)All property vested in the Corporation shall, during the period of such supersession, vest in the Government. (5)Where an offence under this Act has been committed by a Company, every person who, at the time the offence was committed, was in charge of and was responsible to, the company for the conduct of the Business of the Company, to be guilty of the offence and shall be liable to be prosecuted and punished as per the applicable laws in force: Provided that, nothing contained in this section shall render any such person liable to any punishment if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the Commission of such offence.
2. (6) Notwithstanding anything contained in this sectionwhere an offence under this Act has been committed by a company, and it is proved that the offence has been committed with the consent or connivance of or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly. Explanation : For the purpose of this section,
   • (a) “Company” means a body corporate and includes a firm, association or persons or body of individuals whether incorporated or not and
   • (b) “Director” means a Director appointed to the Board of a