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Limited Liability feature of a corporate entity serves to protect the corpus of a corporate person in a multifaceted dimension. However its realistic application desires

Limited Liability feature of a corporate entity serves to protect the corpus of a corporate person in a multifaceted dimension. However its realistic application desires to protect corporate shareholders than it aims at protecting the real actors behind the corporate shell herein the directors. Do you agree with this contention? Provide a well reasoned response while offering recommendations on the way forward.

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