https://www.taxtmi.com/caselaws?id=96573 A contributory's liability in liquidation cannot be enlarged beyond the statutory limit recoverable after crediting assets, A contributories' contributions, and pre-membership debts. Excess proceeds realised from calls on B contributories, after proper deduction of costs, were therefore refundable, as retention of the surplus would exceed the statutory liability. At the same time, where needed to achieve equal distribution among all B contributories, the liquidator could enforce payment of the calls or unpaid balances, since liquidation procedure remains adaptable until distribution is complete. The controlling principle was that calls are only machinery for collecting and distributing the fund pari passu among those liable. en-us Fri, 18 Dec 1931 00:00:00 +0530 Mon, 09 Jan 2012 15:01:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96573 A contributory's liability in liquidation cannot be enlarged beyond the statutory limit recoverable after crediting assets, A contributories' contributions, and pre-membership debts. Excess proceeds realised from calls on B contributories, after proper deduction of costs, were therefore refundable, as retention of the surplus would exceed the statutory liability. At the same time, where needed to achieve equal distribution among all B contributories, the liquidator could enforce payment of the calls or unpaid balances, since liquidation procedure remains adaptable until distribution is complete. The controlling principle was that calls are only machinery for collecting and distributing the fund pari passu among those liable. Case-Laws Companies Law Fri, 18 Dec 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96573