Relationship Between Holding Companies and Subsidiaries and the Concept of Piercing the Corporate Veil in the Light of Recent Vodafone's Decision and Finance Act 2012

Foremost, I would like to express my sincere gratitude to my advisor Ms. Upekha Manamendra for the continuous support of create this report, for her patience, motivation, enthusiasm and immense knowledge. I could not have imagined having a better advisor and mentor for create my report.

With the given opportunity, we would like to express our deepest appreciation to each and everyone who have been helping and involved in the process of conducting the research. To our parents, the support and love given to us have been giving us the strength to continue and finish the research paper. We would like to acknowledge and give our greatest gratitude to our lecturer, Puan Mazli Shahurain for her guidance, encouragement and support throughout the completion of our research paper. Thanks to her, for showing us examples

The researcher would like to thank God firstly for giving him the strength to complete this project. A big share of gratitude is given to my teacher for helping me to choose such a comfortable topic. The researcher’s parents is also to be thanked for their motivation and strong support.

Agency: Court may be lift the veil on a company is only carry the business as an agent of its shareholder. It means that the deal which entered by the subsidiary could be treat as the deal of the holding company. The House of Lords refuse the opinion that the corporation was act as Salomon's agent, the truth about the corporation is a wholly own subsidiary or a single member is insufficient to act as an agent of its shareholders or member. In previously, the courts have found the relationship among a subsidiary corporation and its parent corporation. In previously, the courts have found the relationship among a subsidiary corporation and its parent corporation. It can be found in the case Smith, Stone & Knight v Birmingham Corporation but Adams v Cape Industries Ltd verify that an

I am thankful to my teacher Sir Touseef who help me reading and understanding this of different personal skills and their advice, and guidance during studies. I am also thankful to all other people who contributed their time & efforts to

In recent times, there has been an increased incidence among large scale business organizations to structure their operations through the form of corporate groups, with many domestic and international subsidiaries, wholly owned or otherwise, with the corporate veil ensuring that each of these enjoy separate corporate legal personality and limited liability. The existence of these ‘corporate groups’, with subsidiary companies being heavily controlled by their parent companies, have necessitated interpretations and applications of existing corporate legal principles to this novel context, even in case of the basic tenets of corporate law. The circumstances associated with corporate veil piercing, through detailed

We would like to take this opportunity to express our sincere thanks and gratitude to all those people who have significantly contributed towards the completion of this assignment. The project given to us was carried under the supervision and expert guidance of Prof: Vijya Bandhopadya . We are extremely thankful to her for providing us this opportunity.

I would like to acknowledge my mentor Ms. Preeti Sahay, to have stood as a support for me throughout the project and in providing sufficient information for the project.

I dedicate this thesis to my beloved wife, Nithya and my daughter, Lakshana for their love and encouragement

Secondly I would like to thanks my parents and Mr. Mahmud Reyani who gave me a lot of their times to help me in many different ways to complete my project.

Any accomplishment requires the effort of many people and this work is no different. I would like to acknowledge each and every one whose efforts were indispensible through this medium. I am grateful to everyone who has taken great pains to make this project report a success. I thank, the Almighty, God for the constant blessings, wisdom and good health. I thank my parents, for being a sincere source of moral support through thick and thin. I would specially like to thank Mr. Rambabu Kodali, the instructor of this course for his unending

I wish to begin by thanking lecturer, Mr.Siham Aboujanah, thank you for the wisdom, understanding, and compassion that you have imparted to me and my ideas. I am grateful to my parents, brothers and sisters for their extreme moral support, encouragement and patience during the course of studies as well as throughout my academic career. No personal development can ever take place without the proper guidance of parents.

To list who all have helped me is difficult because they are so numerous and the depth is so enormous. I would like to acknowledge the following as being idealistic channels and fresh dimensions in the completion of this project I take this opportunity to thank ASET(ECE) for giving me chance to do this project. I would also like to thanks MR.M.KUJUR whose guidance and care made the project successful. I would like to thank my college library, for having provided Various reference books and magazines related to my project. Lastly I would like like to express my sincere gratitude towards my project guide MR.RAJIV JAISWAL and thank each & every person who directly or indirectly helped me in completion of the project especially my parents & peers who supported me throughout my project.

Corporate governance broadly refers to the mechanisms, processes and relations by which corporations are controlled and directed. Corporate governance has also been more narrowly defined as "a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby, mitigating agency risks which may stem from the misdeeds of corporate officers. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation

Law continuous to impose various legal system on this particular case and confirms that Vodafone have to pay raised by to India, but Vodafone also presented massive documentary evidence and tried hard to get rid of the situation.