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Section 38 – The State Bank of Hyderabad Act,1956

The State Bank of Hyderabad Act,1956

Section 38. Defects in the appointment or constitution not to invalidate acts or proceedings

(1) No act or proceeding of the Board of Directors of the Hyderabad Bank shall be questioned on the ground merely of the existence of any vacancy in or, defect in the constitution of, the Board.

(2) All acts done by any person acting in good faith as a director of the Hyderabad Bank shall, notwithstanding that he was disqualified to be a director or that there was any other defect in his appointment, be deemed to be valid.

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The State Bank of Hyderabad Act,1956

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