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International Journal for Research Trends and Innovation
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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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| Paper Title: | Corporate Personality and Lifting of Corporate Veil |
| Authors Name: | Kunal Jaggi |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJRTI_204135
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| Published Paper Id: | IJRTI2505261 |
| Published In: | Volume 10 Issue 5, May-2025 |
| DOI: | |
| Abstract: | In the present-day world, most of us, either directly or indirectly, interact with the persona of corporate entities. We deal in shares of some company, or are employed by it, or render professional services to such legal personas as lawyers, charted accountants, technicians, or contest legal battles with it or may be just interested in knowing about their aver changing world. The interaction is, however as a matter of course, taken as any ordinary transaction in which we, as one party, deal with another. We are really not concerned with the various facets of the existence, creation and working of these corporate entities as legal persons while we deal with the most commendable feat of legal imagination. This study is confined to ‘Corporate Personality’ & ‘Lifting of Corporate Veil’ the basic concepts of company law, this study has been made with private corporations as the reference point rather than dealing with statutory, municipal, and other types of corporations. It is very interesting to know that a company has a corporate personality separate from its shareholders or directors. Further it is important to know why such corporate personality is conferred on groups of men, in what way law has shaped this legal fiction over the years and how this concept has grown and with what ramifications. Incorporation by registration was introduced in 1844 and the doctrine of limited liability followed in 1855.Subsequently in 1897 in Solomon v. Solomon & Company the House of Lords effected these enactments and cemented into English law the twin concepts of corporate entity and limited liability, and from there the concept has been tailored in the Indian Law For law and society, legal persona of a corporate entity is fundamental; the concept as such is relatively complex. On the one hand law, by fiction, has created these legal persons and on the other hand law itself, disregards their separate personality in various situations. In some cases, law must deal with such persons of its own creation in the context of serious public interest concerns, be that of industrial development or the area of torts committed by a multinational company affecting lives of many. An overview of the various aspects in this arena of corporate personality, its notions and treatment in law, public interest concerns and judicial response, is necessary to get an insight into the world of these legal persons which have increasingly become more than a part of our daily lives. The concept of lifting of corporate veil is of great importance in the present-day scenario, with the increase in white collar crimes, information technology crimes, shares scams, tax evasions, forgeries by the companies etc. It is important to know as to who the persons behind such crimes are and are hiding behind the veil of the company, and to punish them for such acts and to put them behind bars, as a company being a juristic person cannot be put behind bars |
| Keywords: | Corporate Personality and Lifting of Corporate Veil |
| Cite Article: | "Corporate Personality and Lifting of Corporate Veil ", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.10, Issue 5, page no.c515-c527, May-2025, Available :http://www.ijrti.org/papers/IJRTI2505261.pdf |
| Downloads: | 000413 |
| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2505261
Registration ID:204135
Published In: Volume 10 Issue 5, May-2025
DOI (Digital Object Identifier):
Page No: c515-c527 Country: Saket , New Delhi, India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2505261 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2505261 |
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ISSN: 2456-3315
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