law: The Prevention of Money-Laundering Act, 2002
  70. Offences by
  
  companies.-
  1.  Where
  
  a person committing a contravention of any of the provisions of this Act or of
  
  any rule, direction or order made there under is a company, every person who,
  
  at the time the contravention 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 contravention 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
  
  punishment if he proves that the contravention took place without his knowledge
  
  or that he exercised all due diligence to prevent such contravention.
  2.  Notwithstanding
  
  anything contained in sub-section (1), where a contravention of any of the
  
  provisions of this Act or of any rule, direction or order made there under has
  
  been committed by a company and it is proved that the contravention has taken
  
  place with the consent or connivance of, or is attributable to any neglect on
  
  the part of any director, manager, secretary or other officer of any company,
  
  such director, manager, secretary or other officer shall also be deemed to be
  
  guilty of the contravent on and shall be liable to be proceeded against and
  
  punished accordingly. Explanation.-For the purposes of this section,-
   
  
   i.  
  
    "company"
  
  means any body corporate and includes a firm or other association of
  
  individuals; and
   
  
   ii.  
  
    "director",
  
  in relation to a firm, means a partner in the firm.