Section 39 in The M.P. (Rajya) Bhumi Vikas Nigam Adhiniyam, 1976
39. Indemnity of Directors.
(1)Every Director shall be indemnified by the Nigam against all losses and expenses incurred by him, in or in relation to the discharge of his duties except such as are caused by his act or omission which is an offence under any law for the time being in force.(2)A Director shall not be responsible for any loss or expenses resulting to the Nigam from the insufficiency or deficiency of value of or title to any property or security acquired or taken on behalf of the Nigam or the insolvency or wrongful act of any debtor or any person under obligation to the Nigam or any thing done in good faith in the execution of the duties of his office in relation thereto.
