CII suggests govt: Put in place secure harbours for unbiased administrators

The Confederation of Indian Industry (CII) has instructed putting in secure harbours for unbiased administrators, calling for proceedings towards them to be initiated solely when there’s prima facie proof of their involvement in a matter.
The CII has submitted a paper to the Ministry of Corporate Affairs highlighting issues with respect to framework for settlement of offences; legal responsibility of unbiased administrators; vicarious legal responsibility, and many others.
The chamber mentioned it’s essential to expressly exempt unbiased administrators from vicarious legal legal responsibility since they aren’t concerned within the day-to-day operating of the corporate.
A non-obstante clause could also be included within the regulation to exclude unbiased administrators from any vicarious legal legal responsibility for offences dedicated by the agency, it mentioned.