Lawgist25Offences by companies
(1) Where an offence under this Act has been committed by 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 business of the company as well as the company shall be 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, if he proves that the offence was committed without his knowledge and that he had exercised all due diligence to prevent the commission of such offence.
(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 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 be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.
Download our fully-offline, High speed android app.- Click here
- 21 Acquisition of land
- 22 Realisation of additional levy
- 23 Penalties for certain offences
- 24 Penalty for failure to comply with directions of Central Government
- 25 Offences by companies
- 26 Cognizance of offences
- 27 Dispute settlement and Bar of Jurisdiction of civil courts
- 28 Protection of action taken in good faith
- 29 Act to have overriding effect
- 30 Amendment of certain Acts contained in Schedule IV
- 31 Power to make rules
- 32 Power to remove difficulties
- 33 Repeal and saving
