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KANHAIYA PODDAR (OWNER)     09 November 2019

Lifting of corporate veil

a person is liable to make payment for his dues to us, but have no money. Whereas he has a Hotel Business in the name of a company. And he is taking a ground that the business is in the name of company, so we cant make claim from his company being a separate legal entity. can we apply the percing of corporate veil here ? Please do refer some cases too .

 2 Replies

Hemant Agarwal ( Mumbai : 9820174108)     09 November 2019

1.  IF you can documentarily prove that your borrower has dominant share holding in the co. and/or he is receiving some amount as profit /renumeration /share in said Co., THEN you can initiate civil court attachment proceedings for the said profit /renumeration /share in said Co. (but cannot attach co, as an entity.  Check out the Balance Sheet & schedules of the Co., to get a clear picture of his share in the Co.

Keep Smiling .... Hemant Agarwal

Dr. Atul [9013898936] (Lawyer, Scholar)     10 November 2019

Research for the concept of alter ego of a company

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