(1)Where an offense under this Act has been committed by a company, every person who at the time the offense was committed, was in charge, and was responsible to the company for this conduct of the business of the company, as well as the company shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly:Provided that nothing in this sub-section shall render any such person liable to any punishment provided in this Act, if he proves that the offense was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offense.(2)Notwithstanding anything contained in sub-section (1) where an offense under this Act has been committed by a company, and it is proved that the offense was 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 offense 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.
