Liability of members in respect of reduced shares.

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..... paid on the share, or reduced amount, if any, which is to be deemed to have been paid thereon, as the case may be, and the amount of the share as fixed by the minute of reduction: Provided that, if any creditor 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 .....

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..... and enforce calls and orders on the contributories settled on the list, as if they were ordinary contributories in a winding-up. (2) Nothing in this section shall effect the rights of the contributories among themselves. --------------------------------- Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notif .....

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