Amendment status not verified — confirm the current text below against the official source.
(I) If the person committing an offence under this Act is 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 compan), as well as the company, shall be deemed to be guilty of the offence and shall be liable to be pro- ceeded against and punished accordingly; Providecl that nothing contained in this sub-section shall render any person Iiablc to punishment if he proves that the offence was committed without his knowledge or that he had exercised ;)]1 due diligence to prevent the commission of such offence. (2) Notwithstandinc anything contained in sub-section (I), where any offence under this Act has been committed by a company and it is proved that the off- ence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any Director, Manager, Secretary or other officer, he shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and puhished accordingly. Explanation. - (<1 ) for 1:),,:' purposes of this section, - "company" means any body corporate and includes a firm or other association of individuals; and "director", in relation to a firm, means a partner in the finTl. (b)