Misfeasance proceedings.

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..... any 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 breach of trust in relation to the sick industrial com .....

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..... ty 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 years from the date of the order, any financial assistance .....

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