Section 17:
Protection of action taken under Act.
(1) No suit, prosecution or other legal proceeding shall
lie against any director in respect of anything which is in good faith done or intended to be done in
pursuance of this Act.
(2) No suit or other legal proceeding shall lie against the Central Government or any State
Government or any director for any damage caused or likely to be caused by anything which is in good
faith done or untended to be done in pursuance of this Act.