This paper critically analyzes the Doctrine of Corporate Personality and its nuanced implications within the realm of tort obligations, with a specific focus on the seminal case of Salomon v. Salomon & Co. Ltd. The author endeavors to dissect the intricate interplay between the concept of corporate personality, limited liability, and the judicious application of the doctrine of piercing the corporate veil.
Encompassing an Indian perspective, the study delves into the dynamic evolution of corporate veil piercing, particularly its role in addressing tortious liabilities. By navigating through complex jurisprudential landscapes and scrutinizing key judicial decisions, the author illuminates the contours of veil piercing.
The study emphasizes the imperative of striking a delicate equilibrium between preserving corporate integrity and ensuring accountability. Drawing from the recommendations and conclusions, it underscores the significance of a refined statutory framework and limited judicial grounds for effective and equitable veil piercing.