Section 25(2) in The Factoring Regulation Act, 2011
(2)Notwithstanding anything contained in sub-section (1), where an offence under this Act has been committed by a factor 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 factor, such director, manager, secretary or other officer shall also be. deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly.Explanation. -For the purpose of this section, a "director", in relation to a factor means any officer entrusted with the management of the whole or substantially the affairs of the factor.
