https://www.taxtmi.com/caselaws?id=98880 On voluntary winding-up, unpaid amounts on shares already called remain recoverable by the liquidator as part of the shareholders' statutory contribution to the company's assets. The liquidator may make such calls without court sanction under the relevant winding-up provision. A recovery suit for these unpaid share amounts is treated as a claim for statutory liability, not an ordinary contractual debt, so the limitation period applicable to statutory debt governs. On that basis, the claim was not barred by limitation and remained enforceable against the contributories. en-us Thu, 05 Aug 1971 00:00:00 +0530 Tue, 24 Jan 2012 13:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98880 On voluntary winding-up, unpaid amounts on shares already called remain recoverable by the liquidator as part of the shareholders' statutory contribution to the company's assets. The liquidator may make such calls without court sanction under the relevant winding-up provision. A recovery suit for these unpaid share amounts is treated as a claim for statutory liability, not an ordinary contractual debt, so the limitation period applicable to statutory debt governs. On that basis, the claim was not barred by limitation and remained enforceable against the contributories. Case-Laws Companies Law Thu, 05 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98880