Section 33(2) in Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017
(2)Notwithstanding any charge or encumbrance on the uncalled capital of the corporate person, the liquidator shall be entitled to call and realize the uncalled capital of the corporate person and to collect the arrears if any due on calls made prior to the liquidation commencement date, by providing a notice to the contributory to make the payments within fifteen days from the receipt of the notice, but shall hold all moneys so realized subject to the rights, if any,of the holder of any such charge or encumbrance.
