Laws and Bare Acts of India at

MyNation Foundation Online Law Library

Section 432 – The Companies Act,1956

The Companies Act, 1956

432. Contributories in case of winding up of a body corporate which is a member.

If a body corporate which is a contributory is ordered to be wound up, either before or after it has been placed on the list of contributories,

(a)the liquidator of the body corporate shall represent it for all the purposes of the winding up of the company and shall be a contributory accordingly, and may be called on to admit to proof against the assets of the body corporate, or otherwise to allow to be paid out of its assets in due course of law, any money due from the body corporate in respect of its liability to contribute to the assets of the company; and

(b)there may be proved against the assets of the body corporate the estimated value of its liability to future calls as well as calls already made.

Previous | Next

The Companies Act, 1956

Indian Laws – Bare Acts


Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2021 Laws and Bare Acts of India at

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation