Commonality or Common Ownership Without Element of Deceit or Fraud not Sufficient for “Lifting Corporate Veil” & Establishing “Alter Ego”: Bombay High Court Distinguishes NYK Line & NYK Theseus Corporation

By Devanand T R - On June 13, 2023 1:30 pm - 2 mins read
Commonality or Common Ownership - Common Ownership - Element of Deceit or Fraud - Deceit - Fraud - Lifting Corporate Veil - Bombah High Court - Taxscan

The High Court of Bombay has delivered a significant ruling on the issue of “lifting the corporate veil”. The Bombay High Court has distinguished NYK Line and NYK Theseus Corporation on the observation that the fact of Commonality or Common Ownership without the Element of Deceit or attempt at Fraud is not sufficient for “Lifting…

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