https://www.taxtmi.com/caselaws?id=97693 A past member's liability in a winding up does not crystallise until the statutory preconditions are met and a valid call is made in accordance with the winding-up rules. A notice that does not comply with the prescribed formal requirements is not an effective call, and an earlier call cannot bind B contributories before their statutory liability has arisen. Section 214 did not create an enforceable debt at that stage. Because no valid call had been made before the relevant pre-transfer debts were released, the release reduced the B contributories' liability pro tanto, and the appeal succeeded. en-us Tue, 15 Dec 1959 00:00:00 +0530 Fri, 16 Feb 2018 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97693 A past member's liability in a winding up does not crystallise until the statutory preconditions are met and a valid call is made in accordance with the winding-up rules. A notice that does not comply with the prescribed formal requirements is not an effective call, and an earlier call cannot bind B contributories before their statutory liability has arisen. Section 214 did not create an enforceable debt at that stage. Because no valid call had been made before the relevant pre-transfer debts were released, the release reduced the B contributories' liability pro tanto, and the appeal succeeded. Case-Laws Companies Law Tue, 15 Dec 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97693