10 Settlement of the List of Contributories

(1) Provisional List of contributories –

(i) For the purposes of sub–section (1) of section 285, unless the Tribunal dispenses with the settlement of a list of contributories, the Company Liquidator shall prepare and file in the Tribunal not later than twenty one days after the date of the winding up order a provisional list of contributories of the company with their names and addresses, the number of shares, the amount called up and the amount paid up in respect of such shares, and distinguishing in such list the several classes of contributories.

(ii) The list shall consist of every person who was a member of the company at the commencement of the winding–up or his representative, and shall be divided into two parts, the first part consisting of those who are contributories in their own right, and the second part, of those who are contributories as being representatives of, or liable for the debts of, others, as is required under sub-section (2) of section 285. The lists shall be in Form No. 18.

(2) Notice to be given of date of settlement -

(i) Upon the filing of provisional list of contributories mentioned in sub rule (1), the Company Liquidator shall obtain date from the Tribunal for settlement of the list of contributories and shall give notice of the date appointed to every person included in such list, stating in such notice in what character and for what number of shares such person is included in the list, the amount called up and the amount paid up in respect of such shares, and informing such person by such notice that if he intends to object to his being settled as a contributory in such character and for such number of shares as mentioned in the list, he should file in the Tribunal his affidavit, if any, in support of his contention and serve a copy of the same on the Company Liquidator not less than two days before the date fixed for the settlement, and appear before the Tribunal on the date appointed for the settlement in person or by authorised representative. Such notice shall be in Form No. 19, and shall be sent by Registered AD or other recognized modes of service as per section 20 of the Act for acknowledgment to every person included in the list so as to reach him in the ordinary course of post not less than fourteen days before the date fixed for the settlement.

(ii) An affidavit in Form No. 20 relating to the dispatch of notice, shall be filed in the Tribunal not later than two days before the date fixed for the settlement of the list.

(3) Settlement of the list - On the date appointed for the settlement of the list, the Tribunal shall hear any person who objects to being settled as a contributory or as a contributory in such character or for such number of shares as is mentioned in the list, and after such hearing, shall finally settle the list in accordance with sub-section (1) of section 285. The list when settled shall be certified by the Tribunal under its seal and shall be in Form No. 21.

(4) Notice of settlement to contributories -

(i) Upon the settlement of the list of contributories, the Company Liquidator shall forthwith give notice to every person placed on the list of contributories as finally settled, stating in what character and for what number of shares he has been placed on the list, what amount has been called up and what amount paid up in respect of such shares and in the notice he shall inform such person that any application for the removal of his name from the list or for a variation of the list, must be made to the Tribunal within fifteen days from the date of service on the contributory of such notice. Such notice shall be inForm No. 22, and shall be sent to each person settled on the list by Registered AD or other recognized modes of service as per section 20 of the Act for acknowledgment at the address mentioned in the list as settled.

(ii) An affidavit of service relating to the despatch of the notices to the contributories under this Rule shall be filed in the Tribunal within seven days of the settlement of the list of contributories by the Tribunal. Such affidavit shall be in Form No. 23.

(5) Supplemental list of contributories - The Tribunal may add to the list of contributories by a supplemental list or lists and any such addition shall be made in the same manner in all respects as the settlement of the original list.

(6)Variation of list - Save as provided in the immediate preceding rule, the list of contributories shall not be varied, and no person settled on the list as a contributory shall be removed from the list, or his liability in any way varied, except by an order of the Tribunal and in accordance with such orders.

(7) Application for rectification of list - If after the settlement of the list of contributories, the Company Liquidator has reason to believe that a contributory who had been included in the provisional list has been improperly or by mistake excluded or omitted from the list of contributories as finally settled or that the character in which or the number of shares or extent of interest for which he has been included in the list as finally settled or any other particular contained therein, requires rectification in any respect, he may, upon notice to the contributory concerned, apply to the Tribunal for such rectification of the list as may be necessary, and the Tribunal may on such application, rectify or vary the list as it may think fit.

(8) List of contributories consisting of past members - It shall not be necessary to settle a list of contributories consisting of the past members of a company, unless so ordered by the Tribunal. Where an order is made for settling a list of contributories consisting of the past members of a company, the provisions of these Rules shall apply to the settlement of such list in the same manner as they apply to the settlement of the list of contributories consisting of the present members.