Comparative Aspects Of The Statutory Provisions Regarding Piercing Of Veil

Anshu Priya Patel, ICFAI Law School, The ICFAI University, Dehradun

Dr. Suneel Kumar, Assistant Professor, ICFAI University, Dehradun

ABSTRACT

The statutory provisions pertaining to the idea of piercing the corporate veil in different countries are examined in this research study. Under some situations, a legal notion known as the "piercing of the corporate veil" permits courts to hold directors or shareholders personally accountable for the debts or conduct of the organization.This study aims to provide a comparative analysis of the factors taken into consideration, procedures followed, and outcomes observed in cases involving the piercing of the veil by analyzing the statutory frameworks in various nations, including the United States, the United Kingdom, and other common law and civil law jurisdictions.

Keywords: Piercing the veil, Corporate law, Shareholder liability, Statutory provisions.