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SAFETY, HEALTH & ENVIRONMENT DUE DILIGENCE AUDIT FOR ACQUISITIONS: A fundamental principle in jurisprudence is that "ignorance of law is not excusable." After the Bhopal gas disaster in December 1984 and other incidents, amendments were made to Indian Safety, Health and Environment (SHE) regulations. In the factories act, the responsibility of “Occupier” was changed to one of the board of directors (in a public limited company). The “Occupier” is responsible for the safety of workers and surrounding public. For lapses in safety, health and environment provisions, the “occupier” can be criminally prosecuted both under the Penal code 1860 and as “absolute offences”, where breach of provision in the law (by neglect or by commission) becomes punishable, even when no intention to commit an offence need to be proved before punishment is given. Breaches of provision in the Factories act 1948 and amendments fall within the laws understanding of “absolute offences”. Today, organization are growing through the acquisition of assets. The Safety, Health and Environment liability of the newly acquired assets should be carefully scrutinized prior to acquiring the assets to avoid potential issues later. Prism Consultants provide a comprehensive Safety, Health and Environment Due Diligence assessment for potential acquisitions of Chemical units in India. Please submit enquiry or contact us at info@prismcon.net |
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