Lifting up of Corporate Veil with Important Cases | Company Law | Daimler Co. v. Continental Tyres
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- Опубліковано 30 вер 2024
- Hello! In this Video, we will continue with our Discussion on Important Doctrines of Company Law.
Certificate Course on Company Law: learn.finology...
Through these Videos, we will cover Important Doctrines of Company Law:
1. Corporate Personality
2. Lifting up of Corporate Veil
3. Doctrine of Ultra Vires
4. Doctrine of Indoor Management
5. Doctrine of Constructive Notice
In this Video, we will Discuss 'Lifting up of Corporate Veil'
Corporate veil is a concept that separates the personality of shareholders from that of the company. It protects the shareholders from being liable for the actions of the company. There is a fictional veil that exists between the company and its shareholders, and a company acts only through its human agents.
Many a times it is seen that the company commits improper/ illegal acts behind the corporate personality of the company. Thus it became important for the court to lift this veil and see who was responsible for the improper conduct.
So through the lifting of the corporate veil, the court breaks the corporate shell which gave protection to the fraudulent directors who did things against the interest of the company.
Grounds for lifting the veil:
1. Fraud/ Improper conduct
----Important Case: Jones v. Lipman.
2. When the company is a mere cloak/shame
----Important Case Law: Gilford Motor Co. Ltd. V. Horne
3. Where a company is used for evasion of tax
----Important case law: Workmen of Associated Rubber Industry Ltd. v. Associated Rubber Industry Ltd.
4. Determination of the enemy character of the company
----Important Case Law: Daimler Co. Ltd V. Continental Tyre and Rubber Co. Ltd.
The English company sued for the recovery of a trade debt during the first World War. Held, the company was an alien company since it was controlled by Germans. Payment of debt to the English Company controlled by such German company would amount to trading with the enemy. Therefore, the suit filed by the company to recover a trade debt was dismissed.
5. Public Interest- The courts have the discretion to lift the veil to protect public policy and prevent transactions which are in contravention to public policy.
Thus, where there is a conflict with public policy, the courts usually take into account the substance and ignore the form.
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खान sir ki tarah aap bhi achche or saste कोर्स चलाए, ताकि सभी का भला हो
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Nicely explained .
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what happened in case of state of Bombay vs rmd chamarbangwala
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I am sorry but you switched the names of both the companies. Daimler was not in question, Continental was.
Exactly!!got so confused..
The case diagrams are really helpful.Thankyou🤗
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WOW WOW MAM THANKS FOR EXPLAINING U R EXPLAINATION WAS AWESOME
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There are other factors also when corporate veil is being lifted - 1. When company is merely treated as an agency or trust.
2. To punish real persons in quasi criminal cases.
3. To prevent abuse of process of law.
Will you please explain point 1. When company treated as agent.
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Please do video in english too
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SPEAK IN ENGLISH FOR MORE VIEWS
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How do I contact you for certain legal clarificstions.
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Mam sept + oct Ka current affairs ke akvideo upload karengi toh It will be very helpful for us😊
Sorry I couldn't make the video but you can view the current affairs here -- blog.finology.in/Legal-news/current-affairs-september-2019
And october video would be coming soon.
It was Continental Tyre and Rubber co. LTD. Which was incorporated in England not Daimler Co. LTD. Please replace it.
Mam you are very beautiful
Mesmerizing video❤
Just re check the Daimler Co Ltd v Continental Tyre and Rubber Co (GB) Ltd case explained. You explained Daimler is Germany shareholders owned company, But it should be other way as All except one of Continental Tyre and Rubber Co Ltd's shares were held by German residents and all directors were German residents. The secretary was English. Continental Tyre and Rubber Co Ltd supplied tyres to Daimler, but Daimler was concerned that making payment might contravene a common law offence of trading with the enemy as well as a proclamation issued under s 3 (1) Trading with the Enemy Act 1914. Daimler brought the action to determine if payment could be made, given that it was the First World War.
Can anybody help me in knowing that page no : 5.6
2) to protect revenue/ tax
Is the case given :
1.S. Berendsen Ltd vs commissioner of inland revenue
2. Juggilal vs commissioner of income tax air .
3. Dinshaw maneckji petit
Is same or not
And if same why they are confusing us by giving 3 different names for the same case
Please help if u can
Correction****
Who else noticed that ma'am created confusion in Daimler co. ltd. V. Continental tyre & rubber co. Case that which company blongs to which nation.
German nationals incorporated "Continental tyre & rubber co." in england and the daimler was the company of great britain.
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Can govt use this principal to nab big loan evadors like Mallya, Ambanis?
The information provided here is wrong.. pls mam i request you to do research in this case.. continental co. was filed a suit against daimler...
As per Insolvency and bankruptcy act a business making losses to turn sick is legitimate. However, fraud or embezzlement as well as siphoning of funds do not become a cover for sickness of the business. Why?
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Is Vijay Mallya scam is a condition of lifting of corporate veil. Please do reply ma'am.
in the video w informtion is given that is dailmer co. ltd is a german formed company but according to wikipedia dailmer is a england based company
Mam I want to enroll in your corporate law course but it's too much I can afford it if it cost me 2000 thousand please mam help me
I'm not able to understand the Daimler case.... Both company are created by German but one is in Germany and another one is in England so only because of different location of companies result in enemy character of company.....
Company formed for fraud/ improper conduct is the case of (gilford motor vs Horne) according to my icai book of chartered accountant.
wAAAAAOOOOOGHHHHHHHH MAAAM SO NICELY EXPLAINED
Hi, ma'am!
Aaj hamara internal exam hai, Jab aapka iss subject pan video dekha to bohat sara tension kam ho gaya.
I was worries about subject of company law.
Ma'am your videos are good you explain very properly but the content is less in all your videos
Ur facts relating to Daimler co case is wrong...it was continental tyre and rubber co which was incorporated by Germans in England for selling tyres
Prevention of oppression and mismanagement pr video upload kariye mem company law ke aur video upload kariye mem
Best video...
Give some simple example those make me understood the point of determination of enemy character of the company
Thank you for an amazing video also you are cute 💕
Very Simple And Easy Explanation
Thank You mam
Thanks for liking
All video downloads kariye mem company law aur land ke bhi chapter wise padhaiye starting se
Madam I am proud of you
The courts do not in general intervent at the instance of shareholder in matters of internal administration of the company?
plz explain DOCTINE OF ULTRA VIRES
Wow mam... Aapki ki Explaination mughe ek bar m hi smgh aa jati h
Truely amazing explanation ma'am 👍
Thanks
You're welcome 😊
Principle of lifting of the corporate veil ka answer kya he maam
Mam ap bht ache se explain kiya with cases k sth.. Bus mam thoda sa ap jo english word use krte ho usse smjhna thoda sa mushkil hai bcz main hindi medium se hu to wo ap sth he sth explain kardo to easy ho jayega thx
You have mistakenly reversed the company names in the dailmer case.
Thnx maam
Can you make company law videos
They are very easy to understand
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Certificate company course ke kya charges hai in hindi medium
2019 pe kuch changes aayengi??
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Law student
Explanation is good but if it is English then understanding will be too good
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