Amendment status not verified — confirm the current text below against the official source.
(1) Where an offence under this Act which have been Company 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, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly. (2) Notwithstanding anything contained in sub-section ( 1 ), v.ilere an offence ' ..; :hi5 Act has been co~tted by zr.d; ec that the offence has been ronnivance of or is ect the pa.rt ot: any Director, -keeper. Y endor or any other officer of the , . S'.ich Director, Manager, Secretary, Store-keeper endor or any other officer of the company, shall also be deemed to be liable to be proceeded against and punished ac.cordingly. Explanation:- For the purpose of this section,- (a) "Company" means any body corporate and include a firm or other association of individuals; and (b) "Director" in relation to a firm, means a partner in the firm. Cognizance