In India and internationally, Courts have frequently stepped in and extracted substantial damages from companies and their managers, arising from shortcomings in the products, not meeting of statutory requirements, or due to negligence.
This represents legal risk, and its impact extends far beyond the balance sheet of the company. Liability can devolve to both the company and its managers, and it can be civil, criminal or both. For a company, this can affect products and processes, require changes in management, and even adversely affect the reputation of the company. For managers, the cost may have far reaching personal consequences arising from bearing of litigation costs, payment of fines and damages, and even imprisonment.
While civil liabilities entail recovery of wrongful gains, fines and compensation. Criminal liability entails imprisonment. Further, both would likely involve future restrictions on the ability to conduct business and holding of positions in companies. The course will cover examples from a wide variety of sectors, including FMCG, medical equipment, automobile, finance, liability relating to environmental damage, defamation, privacy, negligence etc.
This programme aims to help managers to identify likely sources of risk and understand the steps that can be taken to mitigate it in a timely manner. Overall, the legal risk that a company and a manger face in day to day business transactions will be the core of the programme.
1. Identify legal risk arising from regular business activities.
2. Implication of tort law in cases of negligence.
3. Understanding how criminality is attributable to companies and directors.
4. The power of Indian courts- Statutory and Inherent.
5. Study examples of:
a.Conditions for imposition of liability
b.Quantum of fines and compensation
6. Learn from real sectoral examples.
• Negligence and liability in business transactionsleading to legal risk
• Corporate criminal liability under Companies Act 2013
• Liability of directors under Companies Act 2013, SEBI regulations and under other civil and criminal laws
• No fault/strict/absolute liability for environmental damages
• Liability under auditing process
• Product liability under negligence
• Consumer Protection Act 2019 and liability of manufacturers and sellers
• Business reputation and defamation, including criminal defamation
• Commercial Disparagement
This programme is open to:
• Leadership across companies covering- CEOs, COOs, Managing Directors, Directors, General Managers, Senior Corporate Managers involved in
day to day affairs of the company
• Government officials
• Marketing, sales and legal department of companies that specifically deals with products and services
• Auditors and lawyers
The programme is structured in a way that allows cross
learning across leadership and sectors. Both senior and
middle level managers are expected.
The classes are based on case studies (derived from decided and ongoing court cases), exercises and lecture.