https://www.taxtmi.com/caselaws?id=111238 Execution could proceed against the attached flat and the life-time director where the transfer documents were treated as incapable of defeating the decree-holder's rights. The court found the flat traceable to the family and control of the director, and held that the company structure disclosed a sham arrangement justifying lifting of the corporate veil. It further held that the director could not avoid execution by resigning after the hearing, because resignation did not extinguish liability for obligations already incurred and the company acted only through its directors. The execution was therefore maintained and the objections of the company and director failed. en-us Tue, 13 Mar 2007 00:00:00 +0530 Sat, 21 Apr 2012 12:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111238 Execution could proceed against the attached flat and the life-time director where the transfer documents were treated as incapable of defeating the decree-holder's rights. The court found the flat traceable to the family and control of the director, and held that the company structure disclosed a sham arrangement justifying lifting of the corporate veil. It further held that the director could not avoid execution by resigning after the hearing, because resignation did not extinguish liability for obligations already incurred and the company acted only through its directors. The execution was therefore maintained and the objections of the company and director failed. Case-Laws Companies Law Tue, 13 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111238