NATIONAL MORTGAGE, FINANCING AND GUARANTEE SCHEME ACT - 1976 (SMCD 23)

    Section - 34 - Offences by Bodies of Persons.

    Where an offence under this Decree or under any rules made thereunder is committed by a body of persons then-

    (a) in the case of a body corporate, every director and officer of the body corporate shall be deemed to be guilty of the offence; and

    (b) in the case of a partnership, every partner or officer of the body shall be deemed to be guilty of the offence:

    Provided that no such person shall be deemed to be guilty of the offence if he proves that the offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of the offence having regard to all the circumstances.