https://www.taxtmi.com/caselaws?id=96756 A shareholder remains liable as a contributory unless a surrender of shares is clearly proved and shown to have been accepted by the directors in the manner authorised by the company. Mere correspondence or an uncorroborated oral assertion is insufficient without resolution or documentary acceptance. Statutory protection for past members does not apply where the person continued to be a member at the commencement of winding up, so liability is not avoided on that basis. An objection based on want of notice also fails where the record does not establish absence of notice or any sufficient ground to disturb the contributory list. en-us Wed, 06 Oct 1937 00:00:00 +0530 Fri, 16 Mar 2012 19:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96756 A shareholder remains liable as a contributory unless a surrender of shares is clearly proved and shown to have been accepted by the directors in the manner authorised by the company. Mere correspondence or an uncorroborated oral assertion is insufficient without resolution or documentary acceptance. Statutory protection for past members does not apply where the person continued to be a member at the commencement of winding up, so liability is not avoided on that basis. An objection based on want of notice also fails where the record does not establish absence of notice or any sufficient ground to disturb the contributory list. Case-Laws Companies Law Wed, 06 Oct 1937 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96756