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of <h1>Shareholders held liable for unpaid calls despite time-barred suit</h1> <h3>Pokhar Mal Versus Flour & Oil Mills Co. Ltd.</h3> The appeal was dismissed, and shareholders of The Flour and Oil Mills Company were held liable for unpaid calls despite the company's suit being ... Shares – Power, to issue of at discount and Winding up - Liability as contributories of present and post members The Flour and Oil Mills Company went into voluntary liquidation. Shareholders are liable for unpaid calls even if the company's suit for recovery is time-barred. Shareholders' liability in liquidation is separate from pre-liquidation rights. Shares were not validly forfeited. Appeal dismissed with costs.
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