Kevin LaCroix (LexBlog India)

The D&O Diary continued its Asia Pacific tour with a very brief stop in Mumbai, India’s financial capital. The primary purpose of my visit was to participate as a keynote speaker at the 2023 Bima Gyaan Symposium. Bima Gyaan is an Indian insurance education association. As in past years, the Bima Gyaan event was cosponsored...

Many of us have personal checklists that we use when we review D&O insurance policies. In the following guest post, Umesh Pratapa, an independent insurance consultant based in India, shares his checklist of items to look for in D&O insurance policies. Because Umesh works in the Indian insurance market, some of the items may be...

In the following guest post, Umesh Pratapa takes a look at directors’ liability issues under Indian law, and also examines the protections that are available for directors as well. Umesh is a Consultant – Liability Insurance, in India. Umesh’s article was originally published in the July 2020 issue of “Director Today”, a monthly journal of...

In the following guest post, Umesh Pratapa takes a look at the new Indian Consumer Protection Act, 2019. As Umesh discusses below, the Act not only has important implications for the rights of consumers, but it also has important liability insurance, product liability insurance, and professional liability insurance implications in Indian as well. Umesh’s article...

The D&O Diary’s overseas assignment continued this week with a stop in Mumbai, India’s financial capital. I was in Mumbai to participate in the annual Bima Gyaan Symposium, an educational and networking event for the professional liability insurance industry in India. As reflected in the pictures below, the event was once again well-attended and was...

In the following guest post, Umesh Pratapa takes a look at the state of liability insurance in India. Liability insurance apparently is not yet widespread in India, for reasons that Umesh examines below.  Umesh also takes a look at the possible future for liability insurance in India. Umesh’s article was originally published in The Journal...

The D&O Diary’s Asia Pacific itinerary continued this week with a stop in India’s largest city and financial capital, Mumbai. My primary reason for traveling to Mumbai was to participate in a professional liability insurance program co-sponsored by PLUS and the local Indian professional liability insurance organization, Bima Gyaan. Despite the travel distances involved and...

One of the most closely watched issues in the world of D&O is the extent to which cybersecurity-related issues will lead to liability for corporate directors and officers. In the following guest post, Tarun Krishnakumar, a New Delhi attorney qualified in India and California specializing on issues relating to emerging technology , takes a look at...

In the Companies Act 2013, India’s parliament incorporated a provision allowing for the “compounding” of offenses. “Compounding” is a way for an accused violator to avoid litigation. It is a settlement process by which the accused pays a fee instead of undergoing prosecution. In the following guest post, Umesh Pratapa takes a look at the...

  As readers of this blog know well, liability claims against corporate directors and officers is an increasingly global phenomenon. A number of different factors are contributing to the globalization of D&O liability, including legislative changes, changes in regulatory enforcement activity, and the rise of litigation financing. In the following guest post, Richa Shukla of...

In keeping with my goal of presenting important topics concerning jurisdictions outside the United States, I am pleased to present this guest post by Sakate Khaitan of Khaitan Legal Associates about recent legislative changes in Indian that will impact the availability of arbitration procedures in that country. I would like to thank Sakate for his...

In the following guest post, Umesh Pratapa takes a look at the law in India governing the duties and responsibilities of independent directors, and discusses the ways that independent directors can manage their exposures and safeguard themselves from liability, and protect themselves with D&O insurance. Umesh is an independent insurance consultant in India. I would...

I am always pleased to be able to publish updates on important developments in other jurisdictions. In following guest post, I reproduce two articles about important developments in India. The first article discusses the widening scope of India’s Prevention of Corruption Act. The second article discusses a recent decision of the Supreme Court of India...

  The recent Satyam scandal and ensuing litigation put the duties of independent directors under scrutiny.  The recently enacted Companies Act of 2013 addressed a number of issues relating to the duties and liabilities of independent directors.  In the following guest post, Burzin Somandy of Somandy & Associates in Mumbai takes a look at the...

I know that much of this blog’s readership is located outside the United States and that many readers have substantial business dealings overseas. One of the countries that I know many are focused on is India. For that reason I am pleased to be able publish the following guest from Michael Lea and Abhimanyu Malkan...

As the details about the Satyam Computer Services scandal have emerged and the U.S. securities lawsuits have begun to flood in, questions have also arisen about Satyam’s D&O insurance. At least some of the questions are answered in a January 8, 2009 article in The Economic Times (India’s largest financial daily) entitled “Satyam Scam Triggers...