Question

According to the Companies Act which of the following statement is true regarding set-off against subsequent calls in a company when all creditors have been paid in full?

A Money due to a contributory from the company cannot be allowed by way of set-off against subsequent calls
B Set-off against subsequent calls is only allowed in limited companies
C Set-off against subsequent calls is not permitted after all creditors have been paid in full
D Money due to a contributory from the company can be allowed by way of set-off against subsequent calls
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