LawgistThe Export-Import Bank of India Act
31Defects in appointments not to invalidate acts, etc
(1) No act or proceeding of the Board or of any committee of the Exim Bank shall be questioned on the ground merely of the existence of any vacancy in, or defect in the constitution of, the Board or the committee, as the case may be.
(2) No act done by any person acting in good faith as a director shall be deemed to be invalid merely on the ground that he was disqualified to be a director or that there was any other defect in his appointment.
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MISCELLANEOUS
- 27 Staff of Exim Bank
- 28 Delegation of powers
- 29 Returns
- 30 Obligation as to fidelity and secrecy
- 31 Defects in appointments not to invalidate acts, etc
- 32 Arrangement with Exim Bank on appointment of directors to prevail
- 33 Indemnity of director
- 34 Protection of action taken in good faith
- 35 Act 18 of 1891 to apply in relation to Exim Bank
- 36 Section 34A and section 36AD only of Act 10 of 1949 to apply to Exim Bank
- 37 Omitted
- 38 Liquidation of Exim Bank
- 39 Power to make regulations
- 40 REPEALED
- 41 Power to remove difficulty
