https://www.taxtmi.com/caselaws?id=97881 Section 186 of the Indian Companies Act, 1913 does not extend to unpaid share money payable by virtue of a call made under the Act, including calls made before winding up. The scheme of sections 156, 159, 186 and 187 shows that unpaid share capital remains a statutory liability, but call money is treated separately from other debts due from a contributory. Section 187 provides the proper machinery for making and recovering all call-money liabilities during winding up, including arrears of pre-liquidation calls. A harmonious construction therefore limits section 186 to debts other than call money and places unpaid called-up share amounts within section 187. en-us Fri, 01 Sep 1961 00:00:00 +0530 Wed, 18 Jan 2012 14:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97881 Section 186 of the Indian Companies Act, 1913 does not extend to unpaid share money payable by virtue of a call made under the Act, including calls made before winding up. The scheme of sections 156, 159, 186 and 187 shows that unpaid share capital remains a statutory liability, but call money is treated separately from other debts due from a contributory. Section 187 provides the proper machinery for making and recovering all call-money liabilities during winding up, including arrears of pre-liquidation calls. A harmonious construction therefore limits section 186 to debts other than call money and places unpaid called-up share amounts within section 187. Case-Laws Companies Law Fri, 01 Sep 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97881