Indemnity protects encashers against liabilities arising from the encashment of drafts, cheques and other instruments delivered. The Central Government shall indemnify the Reserve Bank of India or an authorised person against any liability which the Reserve Bank of India or an authorised person may incur by reason of, or in connection with, the encashment of the draft, cheque or other instrument delivered to it, covering liabilities arising from the act of encashment.
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Provisions expressly mentioned in the judgment/order text.
Indemnity protects encashers against liabilities arising from the encashment of drafts, cheques and other instruments delivered.
The Central Government shall indemnify the Reserve Bank of India or an authorised person against any liability which the Reserve Bank of India or an authorised person may incur by reason of, or in connection with, the encashment of the draft, cheque or other instrument delivered to it, covering liabilities arising from the act of encashment.
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