Securitisation And Reconstruction of Financial Assets And Enforcement of Security Interest Act, 2002
Section - 33 - Offences by companies
Offences by companies.
33. (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 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 in this sub-section shall render any such person liable to any punishment provided in this Act, if he proves that the offence was 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 (1), where an 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 of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of the 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) | - | Google Play store
Featured
28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLEST R SOOD & CO New Delhi CA Inter View Details
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDDBoutique Investment Bank & Transaction Advisory Firm Gurgaon CA View Details
ARTICLESHIP
08 June 2026
Internal & Taxation ArticleO P Bagla & Co LLP New Delhi CA Inter View Details |
CAclubindia
