Amendment status not verified — confirm the current text below against the official source.
. (1) Every Dirccto.r shall be idemnified by.the Nigam against all losses and expenses incurred by him, in or in "6lation to'the Iischarge of his duties except such as are caused by his act or omission whieh is an oilgnce under any law for the ,;ime being in force. - _ -' 'i+ Liquidrtioa of &c i[gra. Ildcmqitv 6f ' dircaor- ' (2) A director shal] not -be -responsible for any loss or expenses resulting to the Nigam from the insufficiency o" a"R"ien"y of value of or ltt t"_lLy property or security acquired o" t"L"n: o-ri t"r,rii:"+1"" trErre3l {qqT T, fB{ifi J o r 982 t A4,rl.ii-*, i, , the Niga* or as a merirber-of a committe-e of [r. d"r.a shar] be deemed tobe,inva1idmerg1ronthe;;;1il;;;k;ua[fiedtobea' dtot9to",,o" q membJr ";;; iil['*", any defect in his appoiniment, *yi::ff:,!'.ii jL:i['eil'::Ui3h".fffi ,A",#T#I"*#H$*,$** or lpurporting to aet in pu.suan"e of anv of the pi""i'ri"".';;-;ir#;; -' shair be debmed-to be puru" r.*"rrt, *i*,i, ;h; ;;;g of section 2r of the Indian penal Code, f gO0 fN"- 4b of f gO0).- -----:" 34''No suit or oth-6r legal procee-{ine shall lie against the Nigamr"l*oooofasioa 9" 3'y.olher person authorisel'b;-;;" Nigam to ciiseharge any functions uaoert&eAct. tmder' this Act for any ross 9, di';;" caused or rikely'to b" caused by anythqg which is in good, faith aJn" o. intended Jo uu done in the pursuanie"of thii Act. 35, Fre.y directoi, auditor,,offieer or other emntoree _o_f ]1.:.*y:*r?trhr?:,ft*#::r. :: T.:*n,oyee 9! the state Government whose ,e.vices are utilised by 1o-" .To*, shall before entering upon his duties, make aecra".;;; fidelity aqd secrecy in the,form prescribed by'."Uor*rro* . r.: .. . ir ... {' :fitu Bo.ard may delegate tb any committee of the Board o. to oa"ndou of the cha*man or Managing Director or any other office; ;*ilU;;#;-- - sueh of its powers and functions under this acq ,. t, -r, ueem necessary.