Section 127: Payment of debt due by contributory

127. Payment of debt due by contributory (1) The Court may make an order directing a contributory for the time being on the list of contributories to pay to the company in the manner directed by the order any money due from him or from the estate of the person whom he represents, exclusive of any money payable by him or the estate by virtue of any call in pursuance of this Act, and may— (a) in the case of an unlimited company, allow to the contributory by way of set-off any money due to him or to the estate which he represents from the company on any independent dealing or contract other than money due to him as a shareholder or member in respect of any dividend or profit; [Issue 3] I14 – 78 Revised Laws of Mauritius (b) in the case of a limited company, make a similar allowance to a director whose liability is unlimited or to his heir; and (c) in the case of any company, when all the creditors are paid in full, allow a contributory by way of set-off against any subsequent call any money due on any account whatever to a contributory from the company. (2) The Court may, before or after it has ascertained the sufficiency of the assets of the company— (a) make a call on any contributory for the time being on the list of contributories, to the extent of his liability, for— (i) the payment of any money which the Court considers necessary to satisfy the debts and liability of the company and the costs, charges and expenses of winding up; and (ii) the adjustment of the rights of the contributories among themselves; and (b) make an order for payment of any call so made, and, in making a call, the Court may have regard to the probability that some of the contributories may partly or wholly fail to pay the call. (3) The Court may order any contributory or other person from whom money is due to the company to pay the amount due to the account of the liquidator into a bank named in the order instead of to the liquidator, and any such order may be enforced in the same manner as if it had directed payment to the liquidator. (4) An order made by the Court under this section shall, subject to any right of appeal, be conclusive evidence that any money thereby appearing to be due or ordered to be paid is due, and that any other relevant fact therein stated is true and correctly stated.