law contrct

1. COMPANY LAW
LIFTING CORPORATE VEIL
IMI NEW DELHI Dr D Tandon

2. COMPANY

4. Lifting the Corporate Veil
Principle of separate entity = Curtain / Veil / shield
between members and Company
PROTECT MEMBERS FROM LIAB OF COMPANY
Aim is to protect the company
No illegal activity or Fraudulent Activity
LIFT THE CURTAIN

5. Lifting the Corporate Veil
• Principle of separate entity = Curtain / Veil / shield between
members and Company
PROTECT MEMBERS FROM LIAB OF COMPANY
Aim is to protect the company
No illegal activity or Fraudulent Activity
LIFT THE CURTAIN

6. Lifting Veil circumstances

8. Daimler Co
Ltd
vsContinental
Tyre& Rubber
Co (GB) ltd

9. • 2. When the Company is a Sham

10. 3. Prevention of
Fraud or Improper
Conduct
• Horne had Agreement with Employer that after termination
he wilnot solicit customer s for a certain time . But after his
termination he solicited customers by circulars
INJUNCTIONWAS GRANTED
• Lifting of Corporate Veil { who is the person responsible =
Horne )
3. Lifting Corporate Veil exception

11. 4 Lifting
Corporate Veil
exception
Where the Company is acting
as an agent of the shareholder
Re FG (Films ) Ltd (1953)

12. 5. Re FG (Films ) Ltd (1953)

13. 6.Sir Dinshaw Maneckjee Petit Re (AIR 1927)
HELD : ALL FOUR COMPANIES WERE NOTHING BUT HIMSELF

14. 7. Punishment for Contempt of Court
9. Determination of Technical Competency of the Company