Section 32(2) in The Export-Import Bank Of India Act, 1981
(2)Any director appointed as aforesaid shall—(a)hold office during the pleasure of the Exim Bank and may be removed or substituted by any person by order in writing of the Exim Bank;(b)not incur any obligation or liability by reason only of his being a director or for anything done or omitted to be done in good faith in the discharge of his duties as a director or anything in relation thereto;(c)not be liable to retirement by rotation and shall not be taken into account for computing the number of directors liable to such retirement.
