Bombay HC’s Ruling on Common Ownership and lifting of Corporate Veil

Aurobindo Pharam Limited Vs NYK Theseus (Bombay High Court) Bombay High Court in the case of Aurobindo Pharam Limited Vs NYK Theseus delves into the distinction between commonality or common ownership and the requirement of deceit or fraud to invoke the concept of “lifting the corporate veil” and establishing an “alter ego.” The court analyzes previous judgments and legal principles related to corporate law, emphasizing that each company is considered a separate legal entity. Mere commonality in ownership, directorship, or interlocking shareholding does not automaticall...