Saturday, 5 July 2014

CLB can pierce corporate veil to find out truth about allegation of siphoning off of funds by respon

CL : Where allegations were that respondents in collusion with other entities had siphoned off funds, CLB was entitled to pierce corporate veil to find out truth of allegations and if allegations were found proved, CLB in exercise of its rights and powers under section 402 entitled to pass an order to recover amounts so siphoned off from such third parties/entities


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