Section 42 - Contravention by companies - Foreign Exchange Management Act,1999

..... Contravention by companies 42. (1) Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention 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 contravention and shall be liable to be proceeded against and punished accordingly : Provided tha .....

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Section 42 - Contravention by companies - Foreign Exchange Management Act,1999

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