law: Companies Act, 2013 
  266.
  
    Power
  
  of Tribunal to assess damages against delinquent directors, etc.
  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, officer or employee of the sick
  
  company who are or have been in employment of such company,—
  a.     
  
    has
  
  misapplied or retained, or become liable or accountable for, any money or
  
  property of the sick company; or
  b.    
  
    has
  
  been guilty of any misfeasance, malfeasance, non-feasance or breach of trust in
  
  relation to the sick company, it may, by order, direct him to repay or restore
  
  the money or property, with or without interest, as it thinks just, or to
  
  contribute such sum to the assets of the sick company or the other person,
  
  entitled thereto by way of compensation in respect of the misapplication,
  
  retainer, misfeasance, malfeasance, non-feasance or breach of trust as the
  
  Tribunal thinks just and proper:
  Provided
  
  that such direction by the Tribunal shall be without prejudice to any other
  
  legal action that may be taken against the person including any punishment for
  
  fraud in the manner as provided in section 447.
  1.     
  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 other property of such company for any purpose other than the
  
  purposes 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, for a maximum period of ten years from the
  
  date of the order, any financial assistance to such person or any firm of which
  
  such person is a partner or any company or other body corporate of which such
  
  person is a director, by whatever name called, or to disqualify the said
  
  director, promoter, manager from being appointed as a director in any company
  
  registered under this Act for a maximum period of six years.
  3.      No order shall be
  
  made by the Tribunal under this section against any person unless such person
  
  has been given a reasonable opportunity of being heard.