Offences by Companies

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, or was responsible to, the company for the E conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall ba liable to be proceeded against and punished accordingly: Provided that nothing contained in this sub-section shall render any such person liable to any punishment, under this Act, 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) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is r proved that the offence has been committed with the consent or connivarice of, or is attributable to, any neglect on the part of any director, manager, secretary of. other officer of the company, such director, manager, secretary or other officer shall be deemed lo be guilty of that offence and shall be liable to be proceeded against and punished accordingly. Explanation + — For the purposes of this section, — (a) “Company” means any body corporate and includes a firm or other association of individuals; and (b) “director” in relation to a fim means a partner in the firm.

E conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall ba liable to be proceeded against and punished accordingly:

Provided that nothing contained in this sub-section shall render any such

person liable to any punishment, under this Act, 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.

1. (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is r proved that the offence has been committed with the consent or connivarice of, or is attributable to, any neglect on the part of any director, manager, secretary of. other officer of the company, such director, manager, secretary or other officer shall be deemed lo be guilty of that offence and shall be liable to be proceeded against and punished accordingly. Explanation + — For the purposes of this section, —
   • (a) “Company” means any body corporate and includes a firm or other association of individuals; and
   • (b) “director” in relation to a fim means a partner in the firm.