10. Offences by companies –
(1) If the persons committing an offences under this Act is a company, every person, who, at the time the offences 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 offences and shall be liable to be proceeded against and punished accordingly:
Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he proves that the offences was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offences.
(2) Notwithstanding anything contained in sub-section (1), when an offence under this Act has been committed a company and it is proved that the offence has been committed by a company and it is proved that the offence 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 shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly