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of <h1>Individuals in charge of a company guilty under Forward Contracts Act unless proving lack of knowledge or due diligence.</h1> When a company commits an offence under the Forward Contracts (Regulation) Act, 1952, individuals in charge of and responsible for the company's business at the time are deemed guilty and subject to penalties unless they prove lack of knowledge or due diligence to prevent the offence. Additionally, if the offence results from consent, connivance, or gross negligence by any director, manager, secretary, or officer, they are also deemed guilty and liable for punishment. The term 'company' includes any corporate body, firm, or association, and 'director' includes partners in a firm.
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