Section 10 in The Companies (Temporary Restrictions On Dividends) Act, 1974
10. Offences.
(1)Where an offence against this Act has been committed, every person who at the time the offence was committed was in charge of, and was responsible to, the company committing the offence 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, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence.(2)Notwithstanding anything contained in sub- section (1), where any offence against this Act has been committed by a company and it is proved that the offence has been committed with the consent or con- nivance 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 be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
