PAYMENT OF UNCLAIMED DIVIDENDS OR UNDISTRIBUTED ASSETS INTO THE COMPANY LIQUIDATION DIVIDEND AND UNDISTRIBUTED ASSETS ACCOUNT IN A WINDING UP (From Rule 179 to Rule 182)
Realisation of uncalled capital: liquidator may call and collect arrears, subject to chargeholder rights under winding up rules The Company Liquidator is empowered to call and realise a company's uncalled capital during winding up notwithstanding any charge or encumbrance, and to collect arrears on prior calls, while holding all moneys realised subject to the rights of the holder of any such charge or encumbrance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Realisation of uncalled capital: liquidator may call and collect arrears, subject to chargeholder rights under winding up rules
The Company Liquidator is empowered to call and realise a company's uncalled capital during winding up notwithstanding any charge or encumbrance, and to collect arrears on prior calls, while holding all moneys realised subject to the rights of the holder of any such charge or encumbrance.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.