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Lifting the Corporate Veil

Corporate veil is the veil between company and its shareholders. Shareholders have right to buy and sell the shares. To vote for big company decision but shareholders do not disturb company for day to day works. One other side, company will not disturb shareholders of their day to day work. We can say both are living in the room but there is a veil between them. That is called corporate veil.

Sometime, court can lift the corporate veil because court think, company is nothing but it is fraud. It is just simple way to cheat the public. Company is just playing under the hand of some mastermind controllers. At that time, court lifts its veil and punish the shareholders who are cheating the public. Court will not give any separate legal entity if court will see that company is not fulfilling all its legal obligations.

 

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Vinod Kumar ( Educator )

Vinod Kumar ( Educator ) is founder of this website

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