• Company - Decree against - Execution against Managing Director - Court will examine whether there has been any fraud committed by a Managing Director to use the corporate cloak only as a facade to secure personal immunity - When the execution petition was filed, the petitioner had made a specific reference to the fact of the admission made by the Managing Director of the Company offering to make the payment before the Company Court, while preferring the appeal, but failed to comply with the direction of the Company Court's order - Managing Director was trying to literally use the cloak of corporate entity for securing only immunity against enforcement of any liability contracted by the company. (182) P.L.R.