Shyam Sundar Sharma vs Shribhumi Realty Pvt. Ltd. on 4 February, 2019
The decisions referred by the Ld. Advocate for the appellant in the case of New Horizons Ltd. (supra) and the decision in the case of State of Rajasthan & Ors. (supra) indicate that the doctrine of lifting of corporate veil depend primarily on the realities of the situation and the aim of the legislation to all the parties and it depend primarily on the realities of the situation. In other words, there is no straight-jacket formula and the lifting the veil is permissible depending upon the facts and the circumstances of the case.