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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> High Court of Delhi <br /><br /> Court can lift corporate veil to determine common business goal and privity of interest<br /><br /> MANU/DE/2294/2015 - (17 Aug 2015)<br /><br /> </td> </tr> <tr> <td align="left" valign="top">Apollo Group Inc. and Ors. v. K.K. Modi Investment and Financial Services Pvt. Ltd. and Ors.</td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The corporate veil can be lifted by the Court in “diverse circumstances” to determine the true nature of a company or a group of companies. The Appellant had challenged the determination in a previous judgment that its subsidiaries were subject to a non-compete clause in an agreement for providing educational services between the holding company and the Respondents. Noting that the previous court was assessing if there existed a cause of action against the subsidiaries of the Appellants, the High Court found it sufficient reason to lift the corporate veil.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Relevant : Liverpool and London S.P. & I Association Limited v. M.V. Sea Success I & Anr <manuid>MANU/SC/0951/2003</manuid> State of UP v. Renusagar Power Corporation <manuid>MANU/SC/0505/1988</manuid> Juggi Lal Kamlapat v. C.I.T. <manuid>MANU/SC/0091/1968</manuid></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Corporate veil, subsidiary, agreement</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>