Corporate Veil



1.      What is Corporate Veil? Mention 3 situations that require lifting the corporate veil.

IT LIKE CURTAINS distinct personality of a business is a legal privilege and must be used for legitimate business activities. Only for purposes. In the case of fraudulent and unfair use of the legal entity, the persons concerned will not take refuge behind the personality of the company. The Tribunal will take action Company and apply the principle/doctrine of what is called "corporate veil lifting or stabbing”. The court will consider the company and pretend that it is not a separate entity from the Members insisted and demanded from the members of the control persons to pay the debts to the Companies.



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