Question

What is lifting of Corporate with explain the statutory provisions under which corporate veil of company may be lifted​

Answer 1

Lifting of Corporate veil of company

Explanation:

• Lifting of Corporate veil means shareholder is liable for the company's debt being a company having limited liability for its shareholders.
• The statutory provisions under which corporate veil of company may be lifted​ is at the time of the emergency situations.
• A company registered shows that there shall be a veil between the company and its shareholders.
• There shall be partition between co and its members. The manager of the enterprise is liable for undertaking loans on behalf of the enterprise.

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What is lifting of Corporate with explain the statutory provisions under which corporate veil of company may be lifted​

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