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of <h1>Section 295: Tribunal powers on contributory payments, set-off rights in limited and unlimited companies after winding up</h1> Section 295 empowers the Tribunal, after a winding up order, to direct any contributory on the list to pay money due to the company, excluding amounts payable under statutory calls. In an unlimited company, the Tribunal may permit a contributory to set off sums independently owed by the company, but not amounts due as dividends or profits. For a limited company, this right of set-off is available to directors or managers with unlimited liability or their estates. In any company, once all creditors are fully satisfied, any money owed by the company to a contributory may be set off against later calls.
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