https://www.taxtmi.com/caselaws?id=96681 A statutory contribution claim in liquidation under Section 156 of the Indian Companies Act, 1913 was treated as distinct from enforcement of the original time-barred share-call debt. The liquidator could still recover the unpaid amount on the shares from former contributories because the liquidation remedy created a new statutory liability, even though the underlying call debt could not be sued upon as such. Recovery was confined to unpaid capital under the statute, however, so contractual interest under the articles of association was not recoverable. The substantive contribution claim was upheld, but interest was disallowed. en-us Sun, 02 Jun 1935 00:00:00 +0530 Tue, 10 Jan 2012 12:48:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96681 A statutory contribution claim in liquidation under Section 156 of the Indian Companies Act, 1913 was treated as distinct from enforcement of the original time-barred share-call debt. The liquidator could still recover the unpaid amount on the shares from former contributories because the liquidation remedy created a new statutory liability, even though the underlying call debt could not be sued upon as such. Recovery was confined to unpaid capital under the statute, however, so contractual interest under the articles of association was not recoverable. The substantive contribution claim was upheld, but interest was disallowed. Case-Laws Companies Law Sun, 02 Jun 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96681