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Start Free TrialState Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982 Chapter VII
Title: Miscellaneous
State: Central
Year: 1982
.....or the co-operative bank, for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act. Section 14 - Penalties Any person who,- (a) having in his possession custody or control any property forming part of the undertakings of the Sikkim Bank, wrongfully withholds such property from the Central Government, or the State Government or the co-operative bank; or (b) wrongfully obtains possession of or retains any property forming part of any undertaking of the Sikkim Bank or wilfully withholds or fails to furnish to the Central Government or the State Government or the co-operative bank, or any person or body of persons specified, by that Government or the State Government or the co-operative bank any document relating to such undertaking which may be in his possession custody, or control or fails to deliver to the Central Government, or the State Government or the co-operative bank or any person or body of persons specified by the Central Government or the State Government or the co-operative bank, any assets, books of account, registers or other documents in his possession custody or control, relating to the.....
View Complete Act List Judgments citing this sectionState Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982 Section 15
Title: Offences by Companies
State: Central
Year: 1982
.....an punished accordingly: Provided that nothing contained in this subs-section shall render any such person liable to any punishment if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence. (2) Notwithstanding anything contained in subs-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 conceit 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 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 or other association of individuals; and (b) "director", in relation to a firm means a partner in the firm.
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