law: The Small Industries Development Bank of India Act, 1989 
  44. Indemnity of Directors 
  1.     
  
    Every
  
  Director shall be indemnified by the Small Industries 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 won wilful act or default.
  2.     
  
    A
  
  Director shall not be responsible of any other Director or for any officer or
  
  other employee of the Small Industries Bank or for any loss or expenses
  
  resulting to the Small Industries Bank or from the insufficiency or deficiency
  
  of the value of, or title to, any property or security acquired or taken on
  
  behalf of the Small Industries Bank or the insolvency or wrongful act of any
  
  debtor or any person under obligation to the Small Industries Bank or anything
  
  done in good faith in the execution of the duties of his office or in relation
  
  thereto.