Amendment status not verified — confirm the current text below against the official source.
Offences by companies.-(!) Where an offence under this Act has been committed by a company, every person who, at the time the offence was com- mitted, was in charge of, and was responsible to, the company for the conduct of its business, shall be deemed to be guilty of the offence and shail be liable to be proceeded against and pumshed accordingly : Provided that nothing contained in this sub- section shall render any person liable to pumshment, if he proves that the offence was committed without his knowledge, or that he had exercised all due rhligence to prevent the commission of such offence. (2) Notwithstanding anything contained in sub- sectwn (1), where any offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or conniYance 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 be deemed to 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 includes a firm, society or other indi"iduals ; and (b) "director",- corporate and association of (i) in relation to a firm, means a partner m the firm, 54 (ii) in relation to a society or other associa- tion of individuals, means the person who is entrusted, under the rules of the society or other association, with the management of the affairs of the society or other association, as the case may be . • ..