law: National Bank for Agriculture and Rural Development Act, 1981 
  57. Offences by
  
  companies.- 
  
  1.     
  
    Where
  
  an offence 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 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 that offence and shall be liable to be proceeded against and punished
  
  accordingly.
  Explanation.--For the purpose of this section-
  a.     
  
    "company"
  
  means anybody corporate and includes a firm or other association of
  
  individuals; and
  b.    
  
    "director",
  
  in relation to a firm, means a partner in the firm.