The corporate veil refers to the metaphorical shield between the company and its members (shareholders and directors). It protects individuals from personal liability. It maintains the company’s status as a separate legal person. Example – If a company borrows Rs 1 crore and defaults, creditors can recover only from the company’s assets, not directly from shareholders’ personal a... https://www.kanakkupillai.com/learn/corporate-veil-in-company-law/