law: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
  16. No compensation
  
  to directors for loss of office.- 
  1.     
  
    Notwithstanding
  
  anything to the contrary contained in any contract or in any other law for the
  
  time being in force, no managing director or any other director or a manager or
  
  any person in charge of management of the business of the borrower shall be
  
  entitled to any compensation for the loss of office or for the premature
  
  termination under this Act of any contract of management entered into by him
  
  with the borrower.
  2.     
  
    Nothing
  
  contained in sub-section (1) shall affect the right of any such managing
  
  director or any other director or manager of any such person in charge of
  
  management to recover from the business of the borrower, moneys recoverable
  
  otherwise than by way of such compensation.