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Life Insurance Corporation Of India vs Escorts Ltd. & Ors on 19 December, 1985

14. Mr. Sarkar cited that judgment of the Supreme Court in the case of Life Insurance Corporation of India v. Escorts Ltd., reported at , where the Supreme Court held that the corporate veil might be lifted where the statute contemplates lifting the corporate veil. Mr. Sarkar submitted that since the statute in this case required piercing of the corporate veil to identify the "true persons", the Company Law Board should either have recorded the identity of the true person or should have directed an investigation for ascertaining the identity of the true persons in control of the majority shares of the company.
Supreme Court of India Cites 100 - Cited by 801 - O C Reddy - Full Document
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