(i) If the person committing an offence under these rules is a Company, every person who at the time of offence was incharge of, and was responsible to the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
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1. Substituted vide Notification No. F. 10(17) Rev. Gr. 8/82, G.S.R. 38, dt.17-5-1985
2. Substituted vide Notification No. F. 10(17) Rev. Gr. 8/82, G.S.R. 38, dt.17-5-1985
3. Deleted vide Notification No. F. 10(17) Rev. Gr. 8/82, G.S.R. 38, dt.17-5-1985 11
(ii) Notwithstanding anything contained in sub-rule (i) where an offence under these rules has been committed by a company and it is proved that the offence has been committed with the consent or commitance of, or is attributable to any neglect on the part of any director, manager, secretary or any other officer of the company also be guilty of the offence and shall be liable to be proceeded against and punished accordingly.