Companies Act, 2017
Companies Act, 2017 — section 296
296. Liability of Contributory having fully paid share..—A person holding fully paid-up shares in a company shall be considered as a contributory but shall have no liabilities of a contributory under this Act while retaining rights of such a contributory. Explanation.—The term “contributory” means a person liable to contribute towards the assets of the company on the event of its being wound up.
This is the text of the provision as enacted. It is legal information, not legal advice, and it cannot account for the facts of your own matter. For advice on your situation, consult a verified advocate.