Amendment status not verified — confirm the current text below against the official source.
Offences by Companies: (1 ) Where an offence under this Act has been committed by a Company, every person who at that 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 prosecuted against and punished accordingly. Provided that nothing contained in this sub-section shall render any such person liable to any punishment provided in this Act, if he/she proves that the offence was committed without his/ her knowledge or that he/she exercised all due diligence to prevent the Commission of such offence. (2) Notwithstanding anything contained in sub-section (1) where, an offence under this Act has been committed by a Company and is proved that the offence has been committed with the consent of connivance of or is attributed 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 prosecuted against and punished accordingly.