Amendment status not verified — confirm the current text below against the official source.
Offence by Companies.— (1) Where an offence under this Act has been committed by a com pany, every person who at the time 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 12 offence and shall be liable to be proceeded against and punished accord ingly. (2) Notwithstanding anything contained in sub-section (1), where any 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 attributed to any neglect on the part of, any director, manager, secretary or other officer, the later shall be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accord ingly. Explanation.—For the purpose of this section.— (a) “Company” means any body corporate and includes a firm or other association of individuals ; (b) “director”, in relation to a firm means a partner in the firm.