(7) Where an offence under this Ordinance has been committed by a company, every person who at the time the offence was committed was in charge of, and was responsible to, the company for the conduct of the business of 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 :
Provided that nothing contained m this sub-section shall render any such peison liable to any punishment, if he proves that the offence wai> committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence
(2) Notwithstanding anything contained in sub-section (7 ) , where any offence undei this Ordinance has been committed by a company and it is proved that the oftence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.
Explanation :—For the purposes of this section—
(a) "company" means any body corporate and includes a firm or other association of individuals ; and
(b) "director", in relation to a firm, means a partner in the firm.
29. No suit, prosecution or other legal proceeding shall lie against the Central Government oi any officer of that Government or the Custodian of the undertakings of the Company or the Government company or any ofliccr or other person' authorised by that Government or the Government company for anything which is in eood faith done or intended to be done under this Ordinance