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.... was read as, "Power of Tribunal to assess damages against delinquent directors, etc. 266. (1) If, in the course of the scrutiny or implementation of any scheme or proposal including the draft scheme or proposal, it appears to the Tribunal that any person who has taken part in the promotion, formation or management of the sick company or its undertaking, including any director, manager, office....

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....action that may be taken against the person including any punishment for fraud in the manner as provided in section 447. (2) If the Tribunal is satisfied on the basis of the information and evidence in its possession with respect to any person who is or was a director or an officer or other employee of the sick company, that such person by himself or along with others had diverted the funds or o....