Multiple Choice Questions on Under which of the following circumstances the court lift the corporate veil or corporate personalit........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Under which of the following circumstances the court lift the corporate veil or corporate personalit...........

Companies Act-Phase (I & II) Introduction to Company Act
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    Under which of the following circumstances, the court lift the corporate veil or corporate personality of the company:

    Where the corporate personality is opposed to public policy

    Incorrect Answer

    where corporate personality is used to avoid welfare legislature

    Incorrect Answer

    Where it is just and equitable to lift corporate veil

    Incorrect Answer

    where corporate personality is used to evade the Provisions of Income tax

    Incorrect Answer

    All of the above

    Correct Answer
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    Explanation:

    Lifting of corporate veil refers to the situation where a shareholders/director are held liable for acts of company in certain situations specified in Companies Act, 2013 and in cases decided by court of competent jurisdiction.

    By: Vikas Goyal
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