Misfeasance proceedings.

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.... industrial company or its undertaking, including any past or present director, manager or officer or employee of the sick industrial company^_____      (a) has misapplied or retained, or become liable or accountable for, any money or property of the sick industrial company; or      (b) has been guilty of any misfeasance, malfeasance or non-feasance of....

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....alongwith, others had diverted the funds or other property of such company for any purpose other than a bona fide purpose of the company or had managed the affairs of the company in a manner highly detrimental to the interests of the company, the Tribunal shall by order, direct the public financial institutions, scheduled banks and State level institutions not to provide, during a period of ten ye....