01 June 2011
sec. 209 (5) If any of the persons referred to in sub-section 6 fails to take all reasonable steps to secure compliance by the company with the requirements of this section, or has by his own wilful act been the cause of any default by the company thereunder, he shall, in respect of each offence, be punishable with [imprisonment for a term which may extend to six months, or with fine which may extend to [ten thousand rupees], or with both]:
Provided that in any proceedings against a person in respect of an offence under this section consisting of a failure to take reasonable steps to secure compliance by the company with the requirements of this section, it shall be a defence to prove that a competent and reliable person was charged with the duty of seeking that those requirements were complied with and was in a position to discharge that duty:
[Provided further that no person shall be sentenced to imprisonment for any such offence unless it was committed wilfully.]
(6) The persons referred to in sub-section (5) are the following, namely:—
a. where the company has a managing director or manager, such managing director or manager and all officers and other employees of the company; and]
b. where the company has neither a managing director nor manager, every director of the company;]
(7) If any person, not being a person referred to in sub-section (6), having been charged by the [managing director, manager] or Board of directors, as the case may be, with the duty of seeing that the requirements of this section are complied with makes default in doing so, he shall, in respect of each offence, be punishable with [imprisonment for a term which my extend to six months, or with fine which may extend to [ten thousand rupees], or with both].
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