https://www.taxtmi.com/acts?id=12704 Section 39 deems a company and any person in charge of and responsible to the company for its business at the time of an offence under the Act liable to prosecution and punishment, subject to a defence proving lack of knowledge or exercise of all due diligence. Directors, managers, secretaries or other officers are also liable where the offence occurred with their consent, connivance or due to their neglect. "Company" and "director" are defined to include firms, societies, trade unions and other associations and their partners or governing body members. en-us Fri, 13 May 2011 19:11:32 +0530 Mon, 26 May 2025 12:18:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12704 Section 39 deems a company and any person in charge of and responsible to the company for its business at the time of an offence under the Act liable to prosecution and punishment, subject to a defence proving lack of knowledge or exercise of all due diligence. Directors, managers, secretaries or other officers are also liable where the offence occurred with their consent, connivance or due to their neglect. "Company" and "director" are defined to include firms, societies, trade unions and other associations and their partners or governing body members. Act-Rules FEMA Fri, 13 May 2011 19:11:32 +0530 https://www.taxtmi.com/acts?id=12704