I am confused plez help.
If at the time of liquidation of company list B contributories pay for deficiency in place of list A contributories.
Then in that case who is eligible for refund from the company List A or List B contributory.
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Liquidation of company query
Replies (1)
abhinav,
the very reason that the b list contributories are eing called upon to pay the uncalled amount is because the a list cont arent able to pay the same....
you will observe in a problem tyhat the liquidator deosnt call and refund to the same class of shares...its either a call which he makes...in case of making a call from contributories at first the A list is asked to pay,..in case of failure of them to pay the B list is asked to pay the amount of calls..
In case it is just a refund that the liquidator is supposed to make then the refund will be made to the current shareholder itself( or as we can cal him a A list contributory)...
hope that helped..
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