Penalising individuals makes corporate India uneasy
This approach is consistent with the international best practices in countries such as France, Spain, Germany, the Netherlands and Denmark, where directors and officers are liable for breach of competition law
Directors and officers of companies (D&Os) have the responsibility (and indeed the duty) to ensure that the best interests of the company, its employees and stakeholders and the community at large are adequately safeguarded.
This fiduciary duty may lead to a triaging of interests, whereby some interests (maximising the revenues for the company and its shareholders) may supersede others (acting for the benefit of the community). The emerging jurisprudence in the space of directors' duties entails an exposure to personal liability for those in default for any violation of the laws, which ...
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First Published: Sun, August 28 2016. 21:33 IST