(2) No suit, prosecution 01 • other legal proceeding shall be against any officer or other employee of the Central Government, the Custodian or any chairman, director, officer or oilier employee of the Custodian for anything which is in good faith done ur intended to be done under this Ordinance,
1..2) No ouit or other legal proceeding shall be against the Central Government 01 any ol its officers or uther employees or the Custodian or any chairman, director, officer or other employee of the Custodian for anv damage caused or likely to be caused by au\thing which L-; in good faith done or intended to be done under this; Ordinance.
12 (1) If the Central Government is satisiled, after such inquiry as it may think fit, that any contract or agreement entered into at any time within twelve months immediately preceding the appointed day, between the company or the managing agents of the company and any other person, in so far as such contract or agreement relates to the undertaking of the company, has been entered into in bad faith, and i> detrimental to the interests of the undertaking of the company, make an order cancelling or varying (either unconditionally or subject to such conditions as it may think fit to impose) and thereafter the contract or agreement shall have effect accordingly :
Certain proceedings before court to bo barred.
Exclusion of period ol operu- <ion of Ordinance Ordinance to have over-rid - ing efl'e.'t.
Proteeti or a action t liken in ;;oixl faith Contracts In bud taith may be cancelled or varied.
20 THE GAZETTE OF INDIA EXTRAORDINARY [PART U—SKC. 1]
Provided that no contract or agreement shall be cancelled or varied except after giving to the parties to the contract or agreement reasonable opportunity of being heard.
(2) Any person aggrieved by an order under sub-setion (I) may make an application to the High Court within the local limits of whose jurisdiction the principal place of business of the company in India is situated, for the variation or reversal of such order and thereupon such court may confirm, modify or reverse such order.
13. If the Custodian is of the opinion that any contract of employment entered into by the company or the managing agents of the company, in relation to the undertaking of the company, at any time before the appointed day, is unduly onerous, it may, by giving to the employee one month's notice in writing or the salary or wages for one month in lieu thereof, terminate such contract or employment.