3) What is corporate veli? Mention 3 situations that require lifting the corporate veil.

October 03, 2019


Corporate veil is the legal concept separating personality of a company from its members and provides protection from personal liability.  In corporate veil there are statuary provisions and judicial interpretations. There are many situations where corporate veil is lifted like misstatement in prospects , failure to return application money, misdescription of name, tax fraud and many  more.




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