Companies Act, 2017

PART-V

REDUCTION OF SHARE CAPITAL

Companies Act, 2017 PART-V REDUCTION OF SHARE CAPITAL From: 2023-11-01 - To: 0000-00-00 94. Liability of members in respect of reduced shares.- (1) A member of the company, past or present, shall not be liable in respect of any share to any call or contribution exceeding in amount the difference, if any, between the amount paid, or, as the case may be, the received amount, if any, which is to be deemed to have been paid, on the share and the amount of the share as fixed by the order: Provided that, if any credited, entitled in respect of any debt or claim to object to the reduction of share capital, is, by reason of his ignorance of the proceedings for reduction, or of their nature and effect with respect to his claim not entered on the list of creditors, and, after the reduction, the company is unable, within the meaning of the provisions of this Act with respect to winding up by the Court, to pay the amount of his debt or claim, then-…