(1) Every director of the Nigam shall be indemnified by the Nigam against all me~~~~::Yof losses and expenses incurred by him, in or in relation to the discharge of his duties except Such as are caused by bis own wilful act or default.
181--1
(2) A Director of the Nigam shall not be responsible for .any otber director Or f any officer or other employee of the Nigam for any loss. or expenses resulting to 'the Niga from the insufficiency Or deficiency of value of, or title to any property or secuf acquired or taken on behalf of tbe Nigam or the insolvency or wrongful act of any deb] or any person under obligation to the Nigam or anything done in good faith in-j execution of the duties of his office in relation 'thereto. - Defects in appointment of directors not to invalidate acts etc.