https://www.taxtmi.com/caselaws?id=111555 The court ruled in favor of the petitioner, a separate company, in a challenge against a recovery order for dues of Rs. 9,49,267 and interest of Rs. 3,23,802 from the debtor company. Despite common directors and a sister concern relationship, both companies are distinct legal entities under the Companies Act. The court criticized the respondent's advocate for repeated adjournments, leading to a final hearing where the defense to lift the corporate veil was deemed baseless. The recovery demand was quashed, and the petition was allowed with no costs imposed. en-us Mon, 20 Mar 2006 00:00:00 +0530 Tue, 24 Apr 2012 10:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111555 The court ruled in favor of the petitioner, a separate company, in a challenge against a recovery order for dues of Rs. 9,49,267 and interest of Rs. 3,23,802 from the debtor company. Despite common directors and a sister concern relationship, both companies are distinct legal entities under the Companies Act. The court criticized the respondent's advocate for repeated adjournments, leading to a final hearing where the defense to lift the corporate veil was deemed baseless. The recovery demand was quashed, and the petition was allowed with no costs imposed. Case-Laws Companies Law Mon, 20 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111555