Section 71
Indorser of security not liable for amount thereof.
The Major Port Trusts Act, 1963
About this Act
An Act to make provision for the constitution of port authorities for certain major ports in India and to vest the administration, control and management of such ports in such authorities and for matters connected therewith.
Notwithstanding anything in the
Negotiable Instruments Act, 1881 (26 of 1881), a person shall not by reason only of his having indorsed
any Port Trust security be liable to pay any money due, either as principal or as interest, thereunder.