Amendment status not verified — confirm the current text below against the official source.
Substituted by G.O.Ms.No.162, Revenue (Excise-II) Department, dated 10.09.2015. Power of the State Government to notify exemptions or grant relaxations. Protection of action taken under this Act. Limitation of suits. Offences by Companies etc. 58 [Act No. 17 of 1968] and it is proved that the offence has been committed with the consent or connivance of, or that the commission of the offence 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 also 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 corporate and includes a firm or other association of individuals, and (b) “Director” in relation to firm, means a partner in the firm.