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[Cites 0, Cited by 0] [Section 40(2)] [Section 40] [Entire Act]

State of Karnataka - Subsection

Section 40(2)(b) in The Karnataka Money-Lenders Act, 1961

(b)Notwithstanding anything contained in clause (a), where an offence under this Act has been committed by a company and it is proved that the offence has been 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 offence and shall be liable to be proceeded against and punished accordingly.