Doctrine of "Lifting the Corporate Veil" Or "Piercing the corporate veil"

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....lders with its own legal rights and obligations. It seeks to disregard the separate personality of the company and attribute the acts of the company to those who are allegedly in direct control of its operation. The starting point of this doctrine was discussed in the celebrated case of Salomon v. A Salomon & Co Ltd., [1897] AC 22. Lord Halsbury LC (paragraphs 31-33), negating....

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.... Escorts Ltd. & Ors., [1985 (12) TMI 289 - SUPREME COURT], while discussing the doctrine of corporate veil, held that: "90. Generally and broadly speaking, we may say that the corporate veil may be lifted where a statute itself contemplates lifting the veil, or fraud or improper conduct is intended to be prevented, or a taxing statute or a beneficent statute is sought to be evaded or where assoc....

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....rule. One exception is where corporate personality is used as a cloak for fraud or improper conduct or for violation of law. Protection of public interest being of paramount importance, if the corporate personality is to be used to evade obligations imposed by law, the real state of affairs needs to be seen.  The same principle applies while overseeing the compliance of a....

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....S. AND CENTRE FOR PUBLIC INTEREST LITIGATION VERSUS UNION OF INDIA & ORS.- [2018 (2) TMI 1501 - SUPREME COURT] In Kapila Hingorani v. State of Bihar [2003 (5) TMI 359 - SUPREME COURT], this Court held as under: The proposition that a company although may have only one shareholder will be a distinct juristic person as adumbrated in Salomon v. Salomon and Co., has time and again been visited by t....