Please use this identifier to cite or link to this item: https://gnanaganga.inflibnet.ac.in:8443/jspui/handle/123456789/15776
Title: The Concept of Corporate Veil: A Comparative Study of India, UK and USA
Authors: Bharadwaja, S S S
Satapathy, Smita
Keywords: Corporate Law
Commercial Law
Corporate Veil
Companies
India
Europe
USA
Issue Date: 6-May-2024
Publisher: Alliance School of Law, Alliance University
Citation: 112p.
Series/Report no.: 2023MLLM07ASL029
Abstract: A legal notion known as the "corporate veil" divides a company's obligations and liabilities from the private obligations and actions of its officials, directors, and shareholders. Stated differently, the corporate veil acts as a barrier between individual stakeholders and the corporation, protecting the latter as a distinct legal entity. A corporation that is set up this way is recognized legally as distinct from its owners. This isolation is one of the primary advantages of establishing a corporation. The corporate form shields individual shareholders from personal liability for the obligations and liabilities of the company. In the event that the company faces financial difficulties or legal issues, the personal assets of the owners are usually protected, and their liability is limited to the amount they invested in the business. It's critical to keep in mind that the idea of the corporate veil has some restrictions. Courts have the power to "pierce the corporate veil" in some circumstances, especially when there is evidence of wrongdoing, fraud, or illegal use of the corporate structure.
URI: https://gnanaganga.inflibnet.ac.in:8443/jspui/handle/123456789/15776
Appears in Collections:Dissertations - Alliance School of Law

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