https://www.taxtmi.com/caselaws?id=97649 The court ruled in favor of the individuals from the Sonepur Raj family in a dispute over their inclusion as contributories in a banking company's winding up. The court found that the transfer of shares was legitimate, and the company failed to update its records despite being informed of the transfer. As the transfer was made before liquidation through authorized brokers, the court absolved the individuals of liability as contributories due to the company's default in rectifying the share register. Each party was ordered to bear their own costs, with the liquidator covering costs from available assets. en-us Mon, 16 Feb 1959 00:00:00 +0530 Tue, 17 Jan 2012 15:50:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97649 The court ruled in favor of the individuals from the Sonepur Raj family in a dispute over their inclusion as contributories in a banking company's winding up. The court found that the transfer of shares was legitimate, and the company failed to update its records despite being informed of the transfer. As the transfer was made before liquidation through authorized brokers, the court absolved the individuals of liability as contributories due to the company's default in rectifying the share register. Each party was ordered to bear their own costs, with the liquidator covering costs from available assets. Case-Laws Companies Law Mon, 16 Feb 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97649