https://www.taxtmi.com/caselaws?id=195085 A person cannot be treated as a contributory for disputed shares unless a valid written application, acceptance, allotment and communication of the concluded allotment are proved. The Court held that the register of members could still be rectified during winding up where the alleged liability had no legal foundation, and that unreliable company records and the petitioner's admitted holding of only 500 shares did not establish liability for 50,000 shares. Because no valid allotment was proved, estoppel, acquiescence and delay did not bar rectification. The petitioner was therefore entitled to have the register corrected to reflect only the 500 fully paid shares and was not liable as a contributory for the disputed shares. en-us Mon, 05 May 1975 00:00:00 +0530 Fri, 13 Oct 2017 17:35:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195085 A person cannot be treated as a contributory for disputed shares unless a valid written application, acceptance, allotment and communication of the concluded allotment are proved. The Court held that the register of members could still be rectified during winding up where the alleged liability had no legal foundation, and that unreliable company records and the petitioner's admitted holding of only 500 shares did not establish liability for 50,000 shares. Because no valid allotment was proved, estoppel, acquiescence and delay did not bar rectification. The petitioner was therefore entitled to have the register corrected to reflect only the 500 fully paid shares and was not liable as a contributory for the disputed shares. Case-Laws Companies Law Mon, 05 May 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195085