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April 29, 2022India’s New Labor Codes - Reduced Direct Liability of Directors?
This article was originally published by National Law Review in Volume XII, Number 111 on April 21, 2022.
SUMMARY
The current archaic 29 federal labor laws in India are awaiting at the departure lounge, ready to be replaced by four new labor codes (“NLC”) that are expected to land soon! Indian industry is intrigued and anxious on the potential impact of the NLC. Will there be a paradigm shift in our employment laws or will it be a case of old wine in new bottle?
Directors are a vital part of any company’s key managerial personnel (“KMP”). Directors have a fiduciary responsibility to ensure that the company complies with applicable laws and can be held liable in case of non-compliance. In, this article, we have analysed the impact of the NLC on the liabilities of directors.
For complete article, please click here.
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