The Companies Act, 2013, has introduced significant changes which highlight the protection of the interests of shareholders and other stakeholders. This has a direct correlation to the role of the directors and officers of companies, making them more susceptible to risk.
The new and improved regulations and the increased responsibilities accorded to the directors and officers heighten the chance of their being held personally accountable for acts they commit either unintentionally or wrongfully, thereby attracting significant legal costs or other financial burdens. As a result, directors’ and officers’ liability insurance (D&O) has been gaining popularity.
D&O can protect the directors and officers of a company or the company itself from any claims arising and provide them cover against any legal expenses and in defending against criminal or civil actions arising out of such claims.
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Khaitan Sud & Partners is a fast growing law firm providing specialist legal services to both domestic and international clients. Riddhi Sancheti is an associate at the firm.
Khaitan Sud & Partners
D-41, Defence Colony
New Delhi – 110024
India
Tel: +91 11 41552824-25
Fax: +91 11 41510266
Email: riddhi.sancheti@kspartners.co.in
www.kspartners.co.in
