Section 72: Liability of persons who are parties to carrying on fraudulent activities.

If, in the course of investigation of a failed public enterprise it appears that any activity of the public enterprise has been carried on in a reckless manner or with intent to defraud the public enterprise, the Court, on the application of the Commission, may, if it thinks proper so to do, declare that persons who were knowingly parties to the carrying on of the activity in the manner aforesaid shall be personally responsible, without any limitation of liability for all or any of the debts or other liabilities of the public enterprise as the Court may direct.