law: Coinage Act, 2011
  16. 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
  
  anybody 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.