• Lakshana K

The Doctrine of Separate Legal Entity established in the Salomon case states that a corporate body or a company has a separate personality of its own which is different from that of its members. The company has a separate entity that is distinct from the members constituting it and as this separate entity is conferred by law, it is known as separate legal entity. This gives rise to the concept of corporate veil which in context means the curtain that separate the company and the members. However, the courts have the power to lift this corporate veil to look into the backstage of the corporates, as the companies being artificial persons require the members to act as its agent to take the necessary steps for the conduct of the business. It is therefore the real minds behind the corporates that actually take decisions and hence any fraudulent act or offence committed makes not only the company liable but also the members behind it. The whole concept of lifting of corporate veil has been established to find out who have actually committed the offence instead of just making the company liable. Moreover, the company being an artificial person does not have the ability required for mens rea to commit an offence or fraud. The main objective of this concept is to safeguard the corporate veil from being a shelter for the ones who commit wrongful acts for their own interest or that is detrimental of the company and its other members. The following paragraphs of this research paper will deal with the understanding and the analysis of the concepts separate legal entity and lifting of corporate veil with the help of various case laws and instances. Those instances will make the reader understand that the lifting of the corporate veil is just and, in some cases, inevitable in order to safeguard justice. The research papers also attempt to discuss the history and the evolution of this concept to the form it presently in and ends with the conclusion.

Lifting of Corporate Veil, Separate Legal Personality, Juridical Person, Artificial Person, Corporate Personality

"Lifting of Corporate Veil: Decoding the Doctrine of Separate Legal Personality", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 6, page no.h188-h192, June-2022, Available :http://www.jetir.org/papers/JETIR2206724.pdf

"Lifting of Corporate Veil: Decoding the Doctrine of Separate Legal Personality", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 6, page no. pph188-h192, June-2022, Available at : http://www.jetir.org/papers/JETIR2206724.pdf