Power of Tribunal to assess damages against delinquent directors, etc.

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....ny past or present director, manager, liquidator or officer of the company^____      (a) has misapplied, or retained, or become liable or accountable for, any money or property of the company; or      (b) has been guilty of any misfeasance or breach of trust in relation to the company, the Tribunal may, on the application of the Official Liquidator,....

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....e case may be, whichever is longer. (3) This section shall apply notwithstanding that the matter is one for which the person concerned may be criminally liable.]     ---------------------------------------- Notes:- [1] Substituted by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. Prior to its substitution, section 543, as amended by the Co....

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....alf in sub-section (2), examine into the conduct of the person, director, ^2[* * *], manager, liquidator or officer aforesaid, and compel him to repay or restore the money or property or any part thereof, respectively, with interest at such rate as the Court thinks just, or to contribute such sum to the assets of the company by way of compensation in respect of the misapplication, retainer, misfea....