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1 Offences By Companies on Tue 16 Oct 2012 - 16:10

mayur.velankar@gmail.com

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Section 16 deals with offences by the companies and provides that where any offence has been committed by a company, every person who, at the time the offence was committed, was directly in charge of, and was responsible to, the company for the conduct of the business of the company, and the company itself, shall be deemed to be guilty of the offence and shall be liable to be proceeded against.
When an offence has been committed by a company, and it is proved that the offence was committed with the consent or connivance of any director, manager, secretary or other officer of the company,
such director, manager, secretary or other officers shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.

2 Re: Offences By Companies on Tue 16 Oct 2012 - 16:13

Soundharya


CSoC Master
CSoC Master
Dear member,

Can you elaborate more on that topic which will benefit everyone, rather giving a short explanation ?

https://sounds-takeonit.blogspot.com

rchgiri

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CSoC King
CSoC King


Section 5 of the Companies Act, 1956: Meaning of "officer who is in default"

For the purpose of any provision in this Act which enacts that an officer of the company who is in default shall be liable to any punishment or penalty, whether by way of imprisonment, fine or otherwise, the expression "officer who is in default" means all the following officers of the company, namely:-

(a) the managing director or managing directors;

(b) the whole-time director or whole-time directors;

(c) the manager;

(d) the secretary;

(e) any person in accordance with whose directions or instructions the Board of directors of the company is accustomed to act;

(f) any person charged by the Board with the responsibility of complying with that provision:

Provided that the person so charged has given his consent in this behalf to the Board;

(g) where any company does not have any of the officers specified in clauses (a) to (c), any director or directors who may be specified by the Board in this behalf or where no director is so specified, all the directors:

Provided that where the Board exercises any power under clause (f) or clause (g), it shall, within thirty days of the exercise of such powers, file with the Registrar a return in the prescribed form. (Form 1AA /Form 1AB)

Form 1AA/Form 1AB: Particulars of person(s) charged or directors (s) specified for the purpose of clause (f) or (g) of Section 5.

Have a happy learning.

4 Re: Offences By Companies on Sun 4 Nov 2012 - 21:23

Soundharya


CSoC Master
CSoC Master
Thank you sir !

https://sounds-takeonit.blogspot.com

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