Reviewed case brief
Life Insurance Corporation of India v. Escorts Ltd.
AIR 1986 SC 1370
The Supreme Court held that while a company has a separate legal personality distinct from its members, the corporate veil can be pierced where the corporate form is used as a cloak for fraud or to defeat public interest. The court laid down the circumstances under which separate personality may be
- Court
- Supreme Court of India
- Year
- 1986
- Subjects
- Jurisprudence, Company Law
- Reviewed
- 2026-06-30
Rule established
The corporate veil may be lifted where the corporate entity is used as a device for fraud, improper conduct, or to defeat public interest
Facts
Issues
Held
Ratio decidendi
How to use it in an exam
Editorial source
Supreme Court Reports
Educational summary only. Read the reported judgment or an authorised law report before relying on the case professionally.