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 77
- Downloads 0
Thyroid Dysfunction Among Patients with Depression in a Tertiary Care Hospital in Puducherry
Background: The association between depression and thyroid disorders are studied extensively but still remains disputable. Hence, the current study was designed to estimate the proportion of thyroid dysfunction among dep...
Reconstruction of Legal Protection toward the Mortgage’s Creditor Holder within object of Building Rights Title which the Term was Expired before the Credit Agreement’s Due Based on Legal Justice Value
The purpose of this study is to assess and analyze the legal protection practices towards creditors holders of mortgage with the object of Building Utilization which has expired the period before the credit agreement is...
The Origin of Linguistic Landscaping in South India: A Political and Economic Perspective
Linguistic landscaping is relatively a new realm and it appears elusive in terms of its precise meaning. In a general parlance, linguistic landscaping refers to the languages being visibly used in different public and co...
The Relative Worth of Personality Traits of Advocates: A Perception Study in Silchar Town of Assam
The study was conducted to identify the personality traits required in a person to become a successful advocate and also to study the relative worth of the select personality traits by knowing the perceptions of the samp...
A Critical Insight into Corporate Social Responsibility in Companies Act, 2013
This paper provides a brief background of Corporate Social Responsibility (CSR), the concept and its evolution in India and in the world. The paper seeks to analyse in detail the CSR provisions new companies’ bill and pr...