18 Calls in a Winding-Up by the Tribunal
(1) Company Liquidator to realise uncalled capital. -Notwithstanding any charge or encumbrance on the uncalled capital of the company, the Company Liquidator shall alone be entitled to call and realise the uncalled capital of the company and to collect the arrears if any due on calls made prior to the winding-up, but shall hold all moneys so realised subject to the rights, if any, of the holder of any such charge or encumbrance. The Company Liquidator shall however not make any call without obtaining the leave of the Tribunal for the purpose within seven days of the settlement of the list of contributories. The application shall state the proposed amount of such call and be in Form No. 36 and shall be supported by the affidavit and shall be served to the contributories through Registered AD or other recognized modes of service as per section 20 of the Act accompanied by proof of service not less than seven days before the date appointed for hearing of the said application. In case, the Tribunal so directs, notice of the application may be given by advertisement in Form No. 37, in such papers as the Tribunal shall direct not less than seven clear days before the date appointed for the hearing, without a separate notice to each contributory. The affidavit of service shall be required to be submitted three days prior to the date of the hearing of the application.
(2) Order granting leave to make a call and document making the call.- The order granting leave to make a call shall contain directions as to the time within which such calls shall be paid. When an order has been made granting leave to make a call, the Company Liquidator shall file in the Tribunal the necessary documents making the call in Form No. 38 with such variations as circumstances may require and shall on receipt of order granting leave to make a call serve by Registered AD or other recognized modes of service as per section 20 of the Act, a copy of the order granting leave to make the call upon each of the contributories included in such call together with a notice in Form No. 39 specifying the amount or balance due from such contributory in respect of such call. The order granting leave to make a call need not be advertised unless the Tribunal otherwise orders for any special reason. In case of non-compliance by the contributories in making payment on the call, the same can be reported to the Tribunal by the Company Liquidator for appropriate directions by filing appropriate applications with a notice of not less than seven days.
(3) Other moneys due by contributories.- When any money is due to the company from a contributory or from the estate of the person whom he represents, other than moneys due on calls made subsequent to the winding-up but including moneys due on calls made prior to the winding-up the Company Liquidator may make an application to the Tribunal supported by an affidavit for an order against such contributory for the payment of such moneys. Notice of the application shall be given to such contributory by Registered AD or other recognized modes of service as per section 20 of the Act not less than seven days prior to the date fixed for the hearing of the application. |