SECTION 75. DAMAGES FOR FRAUD
[Effective from 1st June, 2016]
(1) Where a company fails to repay the deposit or part thereof or any interest thereon referred to in section 74 within the time specified in sub-section (1) of that section or such further time as may be allowed by the Tribunal under sub-section (2) of that section, and it is proved that the deposits had been accepted with intent to defraud the depositors or for any fraudulent purpose, every officer of the company who was responsible for the acceptance of such deposit shall, without prejudice to the provisions contained in sub-section (3) of that section and liability under section 447, be personally responsible, without any limitation of liability, for all or any of the losses or damages that may have been incurred by the depositors.
(2) Any suit, proceedings or other action may be taken by any person, group of persons or any association of persons who had incurred any loss as a result of the failure of the company to repay the deposits or part thereof or any interest thereon.
Today, I went to the beach with my children. I found a sea shell
and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear
and screamed. There was a hermit crab inside and it pinched her ear.
She never wants to go back! LoL I know this is entirely off topic but I had to tell someone!