Section 16 Coinage Act 2011

 

Section 16 Coinage Act 2011: 

Offences by companies

(1) Where an offence under this Act 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 its business, shall be deemed to be guilty of the offence and

shall be liable to be proceeded against and punished accordingly:

Provided that nothing contained in this sub-section shall render any person liable

to any punishment, if he proves that the offence was committed without his

knowledge or that he exercised all due diligence to prevent the commission of

such offence.

(2) Notwithstanding, anything contained in sub-section (1), where any offence under this

Act 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, such director, manager, secretary or

other officer of the company 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, society or

other association of individuals; and

(b) "director", in relation to --

(i) a firm, means a partner or proprietor of the firm;

(ii) a society or other association of individuals, means the person

who is entrusted, under the rules of the society or other association,

with the management of the affairs of the society or other

association of the individuals, as the case may be.

Supreme Court of India Important Judgments And Leading Case Law Related to Section 16 Coinage Act 2011:  Not Yet Available

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