Login : Advocate | Client
Home Post Your Case My Account Law College Law Library

The Industrial Finance Corporation Act, 1948

38. Indemnity of Directors

  1. Every Director, shall be indemnified by the Corporation against all losses and expenses incurred by him in or about the discharge of his duties, except such as are caused by his own wilful act or default.
  2. A Director shall not be responsible for any other Director or for any officer 1*[or other employee] of the Corporation or for any loss or expense resulting to the Corporation by the insufficiency of deficiency of value of, or title to, any property or security acquired or taken on behalf of the Corporation, or by the wrongful act of any person under obligation to the Corporation, or by anything done in good faith in the execution of the duties of his office or in relation thereto.

Industrial Finance Corporation Act, 1948 Back

Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys