Study of Doctrine of Corporate Veil and Effects of Piercing in to Corporate Veil
Journal Title: Indian Journal of Law and Human Behavior - Year 2018, Vol 4, Issue 2
Abstract
Corporate personality has been described as the “most pervading of the fundamental principles of company law”. It constitutes the bedrock principle upon which company is regarded as an entity distinct from the shareholders, it gives an independent corporate existence.Lifting or piercing the veil is corporate laws most widely used doctrine to decide when a shareholder and members will be held liable for obligations of the corporation. Lifting the veil doctrine exists as a check on the principle that, in general, investor shareholders should not be held liable for the debts of their corporation beyond the value of their investment. The doctrine of corporate veil serves as a secured system in protecting inner functions, however it’s not rigid it can be lifted when there is a proven allegation on the company and its functions. The corporate evil is said to be lifted when the court ignores the company and concerns itself directly with the members or the managers. This paper talks about characteristics of corporate personality and effects of lifting the corporate veil.
Authors and Affiliations
R. Dinesh Kumar
Keywords
Related Articles
- EP ID EP572745
- DOI 10.21088/ijlhb.2454.7107.4218.3
- Views 87
- Downloads 0
Protection and Prevention of Children from Sexual Abuse in the Schools: An Assessment with Indian Perspectives
Child sexual abuse is a significant problem in both magnitude and sequelae. Children have a right to a safe school environment where they can learn to the best of their ability. Violence in schools affects children in ev...
A Critical Analysis of the Wage Code Bill, 2017
In the backdrop of introduction of the Wage Code Bill on 10th August, 2017, it gains pertinence to discuss various provisions of the bill in details and further more evaluate this Bill in the light of the various existin...
Problems Faced in Implementing Environmental Protection Laws Due to Migration in Assam, India
Migration involves physical movement from one place to another which causes population distribution to bring out socio-economic, cultural, political and legal changes. In modern time, migration has been considered as an...
Women and Politics in India: A Perspective
A detestable political countenance that has been concealed behind the ugly political manoeuvrings for long is women’s negligible representation in Indian politics. Whenever invoked about the matter, almost all political...
Anxiety and its Determinants among Wives of Alcohol Dependence Patients in Pondicherry
Background: Alcohol consumption has been constantly increasing around the world including India. Alcohol use affects individual, family, society and country in many aspects. Spouses of alcoholics suffer in all dimensions...