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The Companies Act, 1956

Winding Up (Section 425 to 560)

Section 428 Definition of "contributory".

Section 428 Definition of "contributory".

The term 'contributory' means, every person liable to contribute to the assets of a company in the event of its being wound up, and includes the holder of any shares which are fully paid-up; and for the purposes of all proceedings for determining, and all proceedings prior to the final determination of, the persons who are to be deemed contributors, includes any person alleged to be a contributory.