10Offences by companies
(1) 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 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 or that he exercised all due diligence to prevent the commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), when 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 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 a firm, means a partner in the firm.
Download our fully-offline, High speed android app.- Click here
- 1 Short title, extent and commencement
- 2 Definitions
- 3 Prohibition on transfer of lands acquired by Central Government
- 4 Regulation on transfer of lands in relation to which acquisition proceedings have been initiated
- 5 Application for grant of permission for transfer under section 4
- 6 Appeals against orders of competent authority
- 7 Period of operation of orders of refusal to grant permission to transfer land
- 8 Restrictions on registration of transfers of land
- 9 Penalty
- 10 Offences by companies
- 11 Power to make rules