https://www.taxtmi.com/caselaws?id=97966 In voluntary winding up, liquidators may make calls and sue to recover unpaid share money without prior court sanction, and the absence of a separately prepared list of contributories does not invalidate the proceeding. The Court held that, on winding up, a shareholder's liability for unpaid shares becomes statutory under the companies law rather than purely contractual. As a result, limitation is governed by the residuary article instead of the article applicable to company calls. The decree in favour of the liquidators was sustained and the appeal was dismissed. en-us Wed, 25 Jul 1962 00:00:00 +0530 Wed, 18 Jan 2012 16:54:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97966 In voluntary winding up, liquidators may make calls and sue to recover unpaid share money without prior court sanction, and the absence of a separately prepared list of contributories does not invalidate the proceeding. The Court held that, on winding up, a shareholder's liability for unpaid shares becomes statutory under the companies law rather than purely contractual. As a result, limitation is governed by the residuary article instead of the article applicable to company calls. The decree in favour of the liquidators was sustained and the appeal was dismissed. Case-Laws Companies Law Wed, 25 Jul 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97966