Offences by Companies.

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..... s well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly. Notwithstanding anything contained in sub-section (1), 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 negligence on the part of, .....

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..... committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence. Explanation . For the purposes of this section, (i) company means a body corporate and includes a firm or other association of individuals; and (ii) director , in relation to a firm, means a partner in the firm. - - statute, statutory provisions legislation, law .....

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