Section 8(1) in The Parel Investments and Trading Private Limited and Domestic Gas Private Limited (Taking Over of Management) Act, 1979
(1)Where an offence under thisAct has been committed by a company, every person who at the time offence wascommitted was in charge of, and was responsible to, the company; for theconduct of the business of the company, as well as the company, shall be deemedto be guilty of the offence and shall be liable to be proceeded against andpunished accordingly:Provided that nothing containedin this sub–section shall render any such person liable to anypunishment, if he proves that the offence was committed without his knowledgeor that he had exercised all due diligence to prevent the commission of suchoffence.
