https://www.taxtmi.com/caselaws?id=775003 A one person company retains separate legal personality and limited liability, so interim directions under the Arbitration and Conciliation Act, 1996 cannot fasten the company's alleged liability on its sole shareholder or director absent an independent basis for personal liability; the personal deposit and disclosure directions were therefore set aside. The arbitral tribunal may, however, on a prima facie assessment and reasonable apprehension of risk to the claim, direct the company itself to secure the amount by fixed deposit and disclose assets and finances, without being confined to the strict requirements of Order 38 Rule 5 CPC. Those company-directed interim measures were upheld. en-us Thu, 03 Jul 2025 00:00:00 +0530 Fri, 18 Jul 2025 08:22:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775003 A one person company retains separate legal personality and limited liability, so interim directions under the Arbitration and Conciliation Act, 1996 cannot fasten the company's alleged liability on its sole shareholder or director absent an independent basis for personal liability; the personal deposit and disclosure directions were therefore set aside. The arbitral tribunal may, however, on a prima facie assessment and reasonable apprehension of risk to the claim, direct the company itself to secure the amount by fixed deposit and disclose assets and finances, without being confined to the strict requirements of Order 38 Rule 5 CPC. Those company-directed interim measures were upheld. Case-Laws Indian Laws Thu, 03 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775003