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of <h1>Section 42 of FEMA: Company Violations Bring Joint Liabilities for Officers Unless Due Diligence Can Be Proven.</h1> Section 42 of the FEMA Ready Reckoner addresses contraventions by companies, establishing joint and several liabilities for both the company and individuals responsible for its operations. If a company violates any provisions of the Act, those in charge are deemed guilty and subject to penalties unless they can prove ignorance or due diligence. Additionally, if a contravention occurs with the consent, connivance, or neglect of a director, manager, secretary, or officer, they are also deemed guilty and liable for punishment. The term 'company' includes any corporate body, firm, or association of individuals, with 'director' referring to a partner in a firm.
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