https://www.taxtmi.com/acts?id=12815 The Tribunal may order persons involved in the promotion, formation or management of a sick industrial company to repay, restore or contribute money or property, or pay compensation, for misapplication, retention, misfeasance, malfeasance, non-feasance or breach of trust; it may report the matter for further action. If satisfied that a director, officer or employee diverted company funds or managed affairs detrimentally, the Tribunal may direct financial institutions to refuse financial assistance to that person and related entities for a specified period, subject to the person having an opportunity to make submissions, and notwithstanding any criminal liability. en-us Tue, 17 May 2011 12:35:48 +0530 Tue, 17 May 2011 12:35:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12815 The Tribunal may order persons involved in the promotion, formation or management of a sick industrial company to repay, restore or contribute money or property, or pay compensation, for misapplication, retention, misfeasance, malfeasance, non-feasance or breach of trust; it may report the matter for further action. If satisfied that a director, officer or employee diverted company funds or managed affairs detrimentally, the Tribunal may direct financial institutions to refuse financial assistance to that person and related entities for a specified period, subject to the person having an opportunity to make submissions, and notwithstanding any criminal liability. Act-Rules Companies Law Tue, 17 May 2011 12:35:48 +0530 https://www.taxtmi.com/acts?id=12815