law: Companies Act, 2013 
  285.
  
    Settlement
  
  of list of contributories and application of assets.
  1.      As soon as may be
  
  after the passing of a winding up order by the Tribunal, the Tribunal shall
  
  settle a list of contributories, cause rectification of register of members in
  
  all cases where rectification is required in pursuance of this Act and shall
  
  cause the assets of the company to be applied for the discharge of its
  
  liability:
  Provided
  
  that where it appears to the Tribunal that it would not be necessary to make
  
  calls on or adjust the rights of contributories, the Tribunal may dispense with
  
  the settlement of a list of contributories.
  1.     
  2.      In settling the list
  
  of contributories, the Tribunal shall distinguish between those who are
  
  contributories in their own right and those who are contributories as being
  
  representatives of, or liable for the debts of, others.
  3.      While settling the
  
  list of contributories, the Tribunal shall include every person, who is or has
  
  been a member, who shall be liable to contribute to the assets of the company
  
  an amount sufficient for payment of the debts and liabilities and the costs,
  
  charges and expenses of winding up, and for the adjustment of the rights of
  
  the contributories among themselves, subject to the following conditions,
  
  namely:—
  a.     
  
    a
  
  person who has been a member shall not be liable to contribute if he has ceased
  
  to be a member for the preceding one year or more before the commencement of
  
  the winding up;
  b.    
  
    a
  
  person who has been a member shall not be liable to contribute in respect of
  
  any debt or liability of the company contracted after he ceased to be a member;
  c.     
  
    no
  
  person who has been a member shall be liable to contribute unless it appears to
  
  the Tribunal that the present members are unable to satisfy the contributions
  
  required to be made by them in pursuance of this Act;
  d.    
  
    in
  
  the case of a company limited by shares, no contribution shall be required from
  
  any person, who is or has been a member exceeding the amount, if any, unpaid on
  
  the shares in respect of which he is liable as such member;
  e.     
  
    in
  
  the case of a company limited by guarantee, no contribution shall be required
  
  from any person, who is or has been a member exceeding the amount undertaken to
  
  be contributed by him to the assets of the company in the event of its being
  
  wound up but if the company has a share capital, such member shall be liable to
  
  contribute to the extent of any sum unpaid on any shares held by him as if the
  
  company were a company limited by shares.