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Union of India - Section

Section 428 in The Companies Act, 1956

428. Definition of "contributory".-.

The term "contributory" means every person liable to contribute to the assets of acompany in the event of its being wound up, and includes the holder of any shareswhich 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 bedeemed contributories, includes any person alleged to be a contributory.