Case Law Analysis
|Supreme Court of India
Corporate Veil Piercing in CIRP | Subsidiaries as Alter Egos Allow GNIDA Lease Rights Bypass : SC
Supreme Court rules that subsidiaries functioning as mere alter egos of the corporate debtor justify piercing the corporate veil, enabling resolution plans to proceed without GNIDA’s prior consent if dues are settled. This precedent strengthens creditor rights in real estate insolvency cases by preventing statutory authorities from obstructing CIRP completion.