Amendment status not verified — confirm the current text below against the official source.
Offen ce s by com panie s. — (1) If the person com mitting an offence under this Act is a company, every person who, at the time the offsnee was committed, was in-charge of, and Was responsible to the com pany for the conduct of the business of the com pany, as well as the company shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished according ly: Provided that nothing con tained in this sub-section shall ren der any such person liable to punishment if he proves that the offence was commit ted without his knowledge or that he exercised all due diligence to prevent the commission of such offence. (2) Notwithstanding anything contained iis iub-section (1), where an offence under this Act has been committed by a company and it is proved th at the offence has been committed with the consent or connivance of or is attributable to any neglect on the p ar t of, any director, manager, secretary or other officer of th e company shall also be deemed to be guilty of tha t offence and shall be liable to be proceeded against and punished accordingly. Ex plan ation. - For the purposes of this sections— (a) “Com pany” means any body corporate and includes a firm or other association of individuals ; and 11 * <4r’-' (A) “ director” in relation to a firm, includes a partner in the firtn.