law: Export-Import Bank of India Act, 1981
  33. Indemnity of
  
  directors.-
  
  1.  
  
    Every
  
  director shall be indemnified by the Exim Bank 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 own wilful act or default.
  2.  
  
    A
  
  director shall not be responsible for any other director or for any officer or
  
  other employee of the Exim Bank or for any loss or expenses resulting to the
  
  Exim Bank from the insufficiency or deficiency of the value of, or title to,
  
  any property or security acquired or taken on behalf of the Exim Bank or the
  
  insolvency or wrongful act of any debtor or any person under obligation to the
  
  Exim Bank or anything done in good faith in the execution of the duties of his
  
  office or in relation thereto.