Section 32
Indemnity
The General Insurance Business (Nationalisation) Act, 1972
About this Act
An Act to provide for the acquisition and transfer of shares of Indian insurance companies and undertakings of other existing insurers in order to serve better the needs of the economy by securing the development of general insurance business in the best interests of the community and to ensure that the operation of the economic system does not result in the concentration of wealth to the common detriment, for the regulation and control of such business and for matters connected therewith or incidental thereto.
Every officer of the Central Government and every officer or other employee of the
Corporation and of any acquiring company shall be indemnified by the Central Government or the
Corporation or the acquiring company, as the case may be, against all losses and expenses incurred by
him in, or in relation to, the discharge of his duties under this Act except such as have been caused by his
own wilful act or default.