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The corporate veil refers to the legal distinction between a company and its members, directors, and shareholders. Once a company is incorporated under the Companies Act, 2013, it acquires a separate legal personality distinct from the persons who constitute it. This principle was firmly established in *Salomon v. A. Salomon & Co. Ltd.*, where it was held that a duly incorporated company is a separate legal person. Consequently, the company owns its property, enters into contracts, incurs liabilities, and can sue or be sued in its own name. The shareholders are generally not personally liable for the company’s debts beyond the amount unpaid on their shares. The corporate ___ _____ _______ ____ __________ ______ _______ __________.
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