What is meant by 'B-List Contributories'? State their liability in the case of winding-up of a company.

B-list Contributories On the appointment of Liquidator, director's position will stand automatically vacated and the shareholders will be referred to as contributories. Shareholders who have transferred that partly paid shares within one year earlier to date of winding up will be placed in 'B' List. Such contributories will be referred to as 'B' List of contributories. In case the disposal of assets was not sufficient to discharge the liabilities, then the liquidator can claim from 'A' List of contributories towards their unpaid capital. If 'A' list of contributories are not meeting the liabilities, then liquidator can fall upon 'B' List of contributories to recover money towards unpaid portion of the capital. If there were to be more than one such contributories, then the liability will be fixed against that many contributories in the ratio in which they are expected to contribute towards the capital. In no case, such fixation of liabilities can exceed the statutory liability (towards unpaid capital).