Director Indemnity Agreement India

Investors may insist that the entity take over the insurance coverage as a „precondition” for the investment transaction. In addition, at the time of the public issuance of shares or bonds, a company must indicate whether it has received public insurance. CONSIDERING that PepsiCo and the Director each recognize the persistent and significant risk of litigation and other remedies against directors of so-based enterprises; And big picture: The insurance of the former, current and future directors protects past, present and future directors from claims resulting from alleged faults of such directors. The report includes: (a) the right to defend; b) coverage for retired directors; (c) regulation of crisis management; (d) undue security for non-executive directors; (e) reputational damage; 6. Request and final payment. Final payments of the expected debts and expenses are made by PepsiCo no later than thirty days after receiving a written request from the Director or on behalf of the Director, and the Director is entitled to compensation and payment of these debts and expenses, unless a finding is established in these thirtieth days by (i) the majority adoption of a quorum of PepsiCo`s Board of Directors; which is made up of disinterested directors who do not participate in the action brought, (ii) where such a quorum of directors disinterested by independent counsel in a written statement, or (iii) by majority decision by PepsiCo shareholders that the director did not meet the standard of conduct of Section 89 of the GST Act, concerns the issue of the liability of directors of a limited company. It may be noted that this section terminates the Companies Act, 2013. In this section, it is stated that if a limited company does not pay its taxes on the provision of goods or services or both for any period of time, in this case, the directors of such a company are jointly responsible for the company`s taxes. It does not clearly classify the category of directors and therefore makes no distinction to exclude non-executive directors. Although there are differences of opinion on this issue, the prevailing view is that there are no sculptures for non-executive directors (including PE directors), who also play a role in business management.

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