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Section21
The Depositories Act, 1996

Offences by companies

In force From 20 Sep 1995 Act 22 of 1996 As on 16 Oct 2026

Act 22 of 1996 Ministry Finance Enacted 10 Aug 1996 In force 20 Sep 1995

Section 21 of the Depositories Act, 1996 deals with offences by companies. Where [a contravention of any of the provisions of this Act or any rule, regulation, direction or order made thereunder] has been committed by 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 busine The Act came into force on 20 Sep 1995.

21. 1 [Contravention by companies].--(1) Where 2 [a contravention of any of the provisions of this Act or any rule, regulation, direction or order made thereunder] has been committed by a company, every person who at the time the 3 [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 3 [contravention] 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 had exercised all due diligence to prevent the commission of such offence.

(2) Notwithstanding anything contained in sub-section (1), where 2 [a contravention of any of the provisions of this Act or any rule, regulation, direction or order made thereunder] this Act has been committed by a company and it is proved that the 3 [contravention] 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 the 3 [contravention] and shall be liable to be proceeded against and punished accordingly.

Explanation.--For the purposes of this section,--

(a) 'company" means any body corporate and includes a firm or other association of individuals; and

(b) "director", in relation to a firm, means a partner in the firm.

Section 21, The Depositories Act, 1996 (Act 22 of 1996).

Questions about Section 21

What does Section 21 of the Depositories Act deal with?

Section 21 of the Depositories Act is headed "Offences by companies". 21. [Contravention by companies].--(1) Where [a contravention of any of the provisions of this Act or any rule, regulation, direction or order made thereunder] has been committed by a company, every person who at the time the [contravention] was committed was in charge of, and was responsible to, th

How do I find court cases under Section 21 of the Depositories Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Depositories Act 1996 21, section 21 Depositories Act 1996, section 21 of the Depositories Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

When did Section 21 of the Depositories Act come into force?

Section 21 of the Depositories Act, cited as Depositories Act 1996 21, came into force on 20 Sep 1995, having been enacted on 10 Aug 1996. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 16 Oct 2026. This page is not a substitute for legal advice.