Doctrine of piercing the corporate veil - In proceedings for ...

Court Stresses Piercing Corporate Veil to Hold Directors Accountable in Wilful Defaulter Cases; Section 14 IBC Not a Shield.

March 8, 2021

Case Laws Insolvency and Bankruptcy HC

Doctrine of piercing the corporate veil - In proceedings for declaration of Wilful Defaulter, the corporate veil has to be lifted in order to examine the role of the Directors in the alleged actions of the corporate debtor-company which lead to the proposed declaration of Wilful Defaulter - the petitioners cannot take advantage of Section 14 of the IBC merely on the ground of being at par with the corporate debtor, which itself is covered by the said section. - HC

View Source

← Previous Next →

Doctrine of piercing the corporate veil - In proceedings for ...

Court Stresses Piercing Corporate Veil to Hold Directors Accountable in Wilful Defaulter Cases; Section 14 IBC Not a Shield.

March 8, 2021

Case Laws Insolvency and Bankruptcy HC

You may also like:

Validity of SCN proposing to declare the petitioners as wilful defaulters - Classification of Account as NPA - Impact of CIRP proceedings under IBC - The High Court held...

Disqualification of resolution applicant - wilful defaulter of bank - Rejection of Resolution Plan submitted by the Applicant - Appellant submits that on the day when...

Declaration of bodies corporate, their promoters and directors, as “wilful defaulters” - Lack of transparency and due process in the Union Bank's procedure for declaring...

Declaration of Wilful Defaulter of the petitioner - Liability of Directors - The High Court dismissed the petitioner's arguments regarding the mechanical repetition of...

CIRP proceedings - piercing of Corporate Veil - seeking invoking the Bank Guarantee furnished by the parent company - the instant application is a fit case for piercing...

Declaration of Petitioner as a Wilful Defaulter under the Master Circular on Wilful Defaulters, 2015 - depriving the Petitioner from availing credit facilities for his...

Willful defaulters - declaration by a Bank based on a Master circular of RBI - In the absence of serving the order of COE on the petitioners, there could never have been...

Willful Defaulters - The Calcutta High Court, in its judgement, set aside and quashed the decisions of both the First Committee and the Review Committee (RC) declaring...

The High Court considered the issue of willful defaulters and the declaration of loan accounts as fraud without proper notice or hearing. The fraud declaration was found...

Removal of names of the petitioners from the list of wilful defaulters - This Court is of the view that the names of the writ petitioners cannot be removed from the list...

The Resolution Plan excludes personal guarantors, limiting the assignment of debt and security interests to the corporate debtor only. Consequently, the assignee NBFC...

Dishonour of Cheque - vicarious liability - resident Indian Director - The High Court observed that by virtue of being an Executive Director, the petitioner was presumed...

Willful defaulter under the RBI Master Circular dated July 1, 2014 or not - Since all the documents on which the respondents allegedly relied on have been disclosed in...

Wilful Defaulters or not - petitioners contend that the Show Cause Notice was issued by an Assistant General Manager of the Bank, who did not qualify even for being a...

Wilful defaulter - Foreign Letter of Credit - even if, the loan amount or the fund was not directly disbursed in the petitioner’s current account but it was directly...

Quick Updates: