https://www.taxtmi.com/acts?id=11020 A company is punishable only by fine for offences under the Code, while any person in charge of, and responsible to, the company for its business at the time of the offence is liable to imprisonment and fine and may be prosecuted. Such individuals escape liability if they prove absence of knowledge, consent or connivance, lack of attributable neglect, or that they exercised all due diligence; conversely, directors, managers, secretaries or officers are punishable where the offence involved their knowledge, consent or connivance, was due to their neglect, or they failed to exercise due diligence. "Company" and "director" are broadly defined to include unincorporated bodies and Hindu undivided families. en-us Thu, 20 Aug 2009 14:01:19 +0530 Thu, 20 Aug 2009 14:01:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11020 A company is punishable only by fine for offences under the Code, while any person in charge of, and responsible to, the company for its business at the time of the offence is liable to imprisonment and fine and may be prosecuted. Such individuals escape liability if they prove absence of knowledge, consent or connivance, lack of attributable neglect, or that they exercised all due diligence; conversely, directors, managers, secretaries or officers are punishable where the offence involved their knowledge, consent or connivance, was due to their neglect, or they failed to exercise due diligence. "Company" and "director" are broadly defined to include unincorporated bodies and Hindu undivided families. Act-Rules Bills Thu, 20 Aug 2009 14:01:19 +0530 https://www.taxtmi.com/acts?id=11020