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of <h1>Clause 340: Tribunal Can Order Repayment for Mismanagement or Breach of Trust in Company Winding Up.</h1> Clause 340 of the Companies Bill, 2011, empowers the Tribunal to assess damages against individuals involved in the promotion, formation, or management of a company during its winding up. If these individuals have misapplied company funds, retained property, or committed misfeasance or breach of trust, the Tribunal can order them to repay or restore assets with interest or contribute compensation to the company's assets. Applications for such actions must be made within five years from specific triggering events. This provision applies regardless of any potential criminal liability of the individuals involved.
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