https://www.taxtmi.com/caselaws?id=332706 The doctrine of lifting the corporate veil may be applied in execution proceedings where separate corporate personality is used to defeat legal obligations or frustrate satisfaction of an award or decree. The Court stated that the doctrine is not confined to tax evasion or holding-subsidiary cases and may be invoked where justice, fraud, illegality, public interest, or the realities of the business arrangement justify it. On the facts discussed, BIIL and BIL were treated as a single economic entity because of common control, overlapping management, a shared business identity, and other indicia showing that incorporation was being used as a cloak, allowing cargo in BIIL's name to be proceeded against in aid of execution against BIL. The appellate court also reiterated that interference is unwarranted where the Single Judge's view is plausible and not perverse. en-us Tue, 06 Sep 2016 00:00:00 +0530 Wed, 04 Oct 2017 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332706 The doctrine of lifting the corporate veil may be applied in execution proceedings where separate corporate personality is used to defeat legal obligations or frustrate satisfaction of an award or decree. The Court stated that the doctrine is not confined to tax evasion or holding-subsidiary cases and may be invoked where justice, fraud, illegality, public interest, or the realities of the business arrangement justify it. On the facts discussed, BIIL and BIL were treated as a single economic entity because of common control, overlapping management, a shared business identity, and other indicia showing that incorporation was being used as a cloak, allowing cargo in BIIL's name to be proceeded against in aid of execution against BIL. The appellate court also reiterated that interference is unwarranted where the Single Judge's view is plausible and not perverse. Case-Laws Companies Law Tue, 06 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332706