Case Law Details
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 automatically establish one entity as the alter ego of another. The court further explores the necessity of fraud or deceit to justify piercing the corporate veil and disregarding the separate legal identities of multiple companies.
High court held that mere commonality in ownership or interlocking shareholding is insufficient to disregard the separate legal identities of multiple companies.
FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT
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