Section 35 in The Black Money (Undisclosed Foreign Income And Assets) And Imposition Of Tax Act, 2015
35. Liability of manager of a company.—
(1)Every person being a manager at any time during the financial year shall be jointly and severally liable for the payment of any amount due under this Act in respect of the company for the financial year, if the amount cannot be recovered from the company.(2)The provisions of sub-section (1) shall not apply, if the manager proves that non-recovery cannot be attributed to any neglect, misfeasance or breach of duty on his part in relation to the affairs of the company.(3)The provisions of this section shall prevail over anything to the contrary contained in the Companies Act, 2013 (18 of 2013).(4)In this section, "manager" shall include a managing director and both shall have the meaning respectively assigned to them in clause (53) and clause (54) of section 2 of the Companies Act, 2013 (18 of 2013).
