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[Cites 0, Cited by 0] [Section 46] [Entire Act]

Union of India - Subsection

Section 46(6) in The Banking Regulation Act, 1949

(6)Notwithstanding anything contained in sub-section (5), where a contravention or default has been committed by a company, and it is proved that the same was committed with the consent or connivance of, or is attributable to any gross negligence 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 contravention or default 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.