https://www.taxtmi.com/caselaws?id=293894 A money decree against a private limited company cannot, in execution, be enforced against its directors or their personal assets unless they were bound by the decree or specific pleaded facts justify piercing the corporate veil. The executing court cannot go beyond the decree to proceed against persons who are not judgment debtors. Separate corporate personality and limited liability continue to apply in the absence of recognised grounds such as fraud, misuse of the corporate form, or other legally established personal liability. A voluntary part-payment by one director did not create liability for the others, and no sufficient basis for veil lifting was pleaded or proved. en-us Tue, 09 Feb 2010 00:00:00 +0530 Mon, 08 Mar 2021 11:44:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293894 A money decree against a private limited company cannot, in execution, be enforced against its directors or their personal assets unless they were bound by the decree or specific pleaded facts justify piercing the corporate veil. The executing court cannot go beyond the decree to proceed against persons who are not judgment debtors. Separate corporate personality and limited liability continue to apply in the absence of recognised grounds such as fraud, misuse of the corporate form, or other legally established personal liability. A voluntary part-payment by one director did not create liability for the others, and no sufficient basis for veil lifting was pleaded or proved. Case-Laws Indian Laws Tue, 09 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293894