Multiple choice A company enjoys status of a separate legal entity in which of the following cases? Issue of share certificates within three months after the allotment of shares Reduction of membership Formation of a subsidiary company to act as an agent None of these Reveal answer Fill a bubble to check yourself A Correct answer Explanation A company enjoys status of a separate legal entity if it issues share certificates to its shareholders within three months after the allotment of shares according to Sec 113. The corporate veil is not lifted.