Amendment status not verified — confirm the current text below against the official source.
(1) Where an offence under this Act hiu been committed by a Company, Companies., every perison who, at the time the offence was committed, was in charge of and was rcspbnsible to, the Company for thc conduct of thc businesk of the Company as well as the Company, shall be deemed to be guilty of the offence and shdl bc liable to be proceeded against and punished accordingly : ch Provided that nothing contained in this sub-s&on shall render any su person liable to .any punishment if he proves that the offcnce was commited without his knowledge or that he had exercised, all due diligcncc to prevent the commission OF such ofFma. (2) Notwithstanding adythine contained in sub-section. (l), where any offence ,under this ; Act has,, been committed with the consent or connivance of, or is . attributable to any neglect on the part of, any Dircctnr, Manager, Sccretrrry or , o+r oficer such Dircctoi, Manage,,, Secrcrary or olber ofEcur shall be deemed to be gmlty ' of that offcncc and shall be liable to be proceeded azainst and punishcd accordingly. Explanation-For the purpose of this scction- ! , (a) "Company" means anybody corporate and includes a firm or other association of individuals ; end I I ' (6) "Director" in relation to a Turn, mans a partner in the firm. fimit?ljon or