It is hightime to reiterate that in the expanding of horizon of modern jurisprudence, lifting of corporate veil is permissible. Its frontiers are unlimited. It must, however, depend primarily on the realities of the situation. The aim of the legislation is to do justice to all the parties. The horizon of the doctrine of lifting of corporate veil is expanding.
State Of U.P. And Ors vs Renusagar Power Co. And Others on 28 July, 1988
take a look at judgement here : Click Here
Yeah though a company is a separate entity, lifting of corporate veil is necessitated to nab the human culprits behind the company and do justice with all parties concerned.
But yes it should not be carried too far and must be decided based on the facts of each case.
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