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of <h1>Tribunal Can Order Repayment if Company Assets Misused During Winding Up, Section 543 of Companies Act Applies</h1> In the course of winding up a company, if it is found that any individual involved in the company's promotion, formation, or management has misapplied or retained company assets or committed misfeasance or breach of trust, the Tribunal can be petitioned by the liquidator or creditors to investigate. The Tribunal may order the individual to repay or restore the misused assets with interest or compensate the company. Applications must be filed within five years of the winding-up order or related events. This provision applies even if the individual may face criminal liability for their actions.
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