law: Factoring Regulation Act, 2011 
  25. Offences by
  
  factors.-
  1.     
  
    Where
  
  an offence under this Act has been committed by a factor, every person who at
  
  the time the offence was committed was in charge of, and was responsible to,
  
  the factor, for the conduct of the business of the factor, as well as the
  
  factor, 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 has 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 factor 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 factor, 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
  
  purpose of this section, a "director", in relation to a factor means
  
  any officer entrusted with the management of the whole or substantially the
  
  affairs of the factor.