Section 27 in The Gujarat Backward Classes Development Corporation Act, 1985
27. Indemnity to directors.
(1)Every director shall be indemnified against all losses and expense incurred by him in the discharging of his duties except such as are caused by his own wilful actor default.(2)A director shall not be responsible for the acts of any other director or for the acts of any officer or other employee of the Corporation or for any loss or expenses resulting to the Corporation by the insufficiency or deficiency of value of or tie, to any property or security acquired or taken on behalf of the Corporation in good faith or by the insolvency or wrongful act any debt or any person under obligation to the Corporation or anything done in good faith in the execution of the duties of his office or in relation thereto.
