https://www.taxtmi.com/caselaws?id=159995 Property acquired before incorporation was treated as the company's asset where all surrounding records and conduct consistently showed that it belonged to the company, and the promoters were estopped from denying that title; the corporate veil was lifted because the company was being used to serve the promoters' personal design. A decree and award obtained without full disclosure were held capable of being impeached as fraudulent, and withdrawal of the earlier suit did not bar a defensive challenge that they were void ab initio. The sale agreement was held to be a genuine sale, not a loan, and to cover both the house and the appurtenant land. However, specific performance was declined in equity, with refund, interest, and compensation awarded instead. en-us Thu, 24 Aug 2006 00:00:00 +0530 Wed, 25 Jun 2014 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159995 Property acquired before incorporation was treated as the company's asset where all surrounding records and conduct consistently showed that it belonged to the company, and the promoters were estopped from denying that title; the corporate veil was lifted because the company was being used to serve the promoters' personal design. A decree and award obtained without full disclosure were held capable of being impeached as fraudulent, and withdrawal of the earlier suit did not bar a defensive challenge that they were void ab initio. The sale agreement was held to be a genuine sale, not a loan, and to cover both the house and the appurtenant land. However, specific performance was declined in equity, with refund, interest, and compensation awarded instead. Case-Laws Companies Law Thu, 24 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159995