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

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...

Zakat Management System for Poverty Reduction in Islamic Law Perspective

The purpose of this research is to explain and analyze about zakat management practices in Indonesia, the weaknesses in zakat management, as well as efforts to reconstruct zakat management system for poverty alleviation...

Incompetence of Police in Maintaining Law and Order: A Critical View Point

The police in developed countries face relatively few incidents of organized public defiance, and therefore the exercise of police discretion in handling major law and order problems has not been a focus of study. In con...

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...

Food Law Regime in India: Meeting the Global Standards

Implementation of Food standards to ensure Food safety is a serious public health concern in the world especially in countries like India. The challenges of feeding a large, geographically dispersed population, millions...

Download PDF file
  • EP ID EP572745
  • DOI 10.21088/ijlhb.2454.7107.4218.3
  • Views 90
  • Downloads 0

How To Cite

R. Dinesh Kumar (2018). Study of Doctrine of Corporate Veil and Effects of Piercing in to Corporate Veil. Indian Journal of Law and Human Behavior, 4(2), 163-168. https://www.europub.co.uk/articles/-A-572745