https://www.taxtmi.com/caselaws?id=103699 Where prima facie material showed that a company had mobilised public deposits, diverted funds and used related entities to continue the same business, the High Court treated Article 226 as wide enough to support public-interest directions for inquiry, tracing, seizure and attachment of properties to protect depositors. It also applied the fraud exception to corporate personality, holding that the corporate veil could be lifted where incorporation was used as a cloak for illegality or cheating, so that directors, associated concerns and diverted assets could be brought within the scope of investigation and attachment. en-us Wed, 24 Jun 1998 00:00:00 +0530 Fri, 24 Feb 2012 13:17:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103699 Where prima facie material showed that a company had mobilised public deposits, diverted funds and used related entities to continue the same business, the High Court treated Article 226 as wide enough to support public-interest directions for inquiry, tracing, seizure and attachment of properties to protect depositors. It also applied the fraud exception to corporate personality, holding that the corporate veil could be lifted where incorporation was used as a cloak for illegality or cheating, so that directors, associated concerns and diverted assets could be brought within the scope of investigation and attachment. Case-Laws Companies Law Wed, 24 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103699