Navigating Corporate Complexities the Divergence of Company Law From General Legal Principles
Year: 2024
Type: article
Abstract: This paper explores the distinct nature of Company Law, which diverges from general legal principles through the implementation of specialized rules that supersede broader statutory frameworks. The focus is on how these unique provisions, tailored to address corporate complexities such as governance structures, shareholder rights, and board accountability, create a distinct legal environment for corporate entities. The analysis is centered around the Companies Act, 2013 (India), particularly sections 166 (Duties of Directors) and 179 (Powers of the Board), which exemplify how company law overrides general legal principles in favor of detailed, corporation-specific regulations. The landmark case Salomon v. A. Salomon & Co. Ltd.[1] Is used to demonstrate the principle of separate legal personality, illustrating a key divergence from traditional legal doctrines, particularly in matters of liability and corporate autonomy.
Author: Sania S. Bafna
Language: English
Topic: Corporate Governance and Law
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4408315217