Amendment status not verified — confirm the current text below against the official source.
(1) Where an offence under this Aot has been ore11ces by oommitted by a company, every person, who at the time companies. the off~nce was committed, was incharge of, and was I responsible to, the company for the conduct of the busi- 1 ness of the company as well as the company, shall be i deemed to be guilty of the offence, and shall be liable to be proceeded 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 proves that the offence was committed without his knowledge, or that he had exercised all due diligence to prevent the commission of such offence. (2) Notwithstanding anything contained in sub- section (I), where an offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of any direc- tor, 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 liabbe to be proceeded against and punished accordingly. Remove Watermark Wondershare PDFelement 650 Rural Artisans (Conferment of[l976: President's Act 38 I Ownership of Kudiyiruppu) , ! Explanation.-For the purpose of this section,- (a) " company " means a body corporate and includes a firm or other association of individuals ; and (b) " director " , in relation to a firm, means a partner in the firm. I Prosecution