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(1) If the person committing any offence punishable under this Act is a company, every person who, at the time of the commission of the offence, was in-charge of and 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 provided in this Act, if he proves that the offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of the offence. (2) Notwithstanding anything contained in sub-section (1), 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 gross negligence on the part of, any director, manager, secretary or other office 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,- (i) "company" means any body corporate and includes a firm or other association of individuals; and (ii) "director", in relation to a firm, means a partner in the firm.
<span style="margin-left:15px;"></span>(<i>1</i>) If the person committing any offence punishable under this Act is a company, every person who, at the time of the commission of the offence, was in-charge of and 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 :<br> <span style="margin-left:15px;"></span>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 exercised all due diligence to prevent the commission of the offence.<br> <span style="margin-left:15px;"></span>(<i>2</i>) Notwithstanding anything contained in sub-section (<i>1</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 gross negligence on the part of, any director, manager, secretary or other office 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.<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><i>Explanation.-</i> For the purposes of this section,-<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><i>(i)</i> "company" means any body corporate and includes a firm or other association of individuals; and<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>ii</i>) "director", in relation to a firm, means a partner in the firm. <br>