(1) If a contract
is concluded by which one party to the contract promises to save
the other from loss or damage caused to him or her by the conduct
of the promisor himself or herself or by the conduct of any other
person working under the direction of such a party or loss or
damage caused to such a party or third party by his or her conduct,
the contract shall deemed to be a contract of indemnity.
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(2) If a contract referred to in sub-section (1) is concluded,
the indemnity holder shall be entitled to recover as compensation
all or any of the following amounts, subject to that contract:
(a) The amount of indemnity specified in the contract,
(b) If any loss or damage is caused to a third person, the
amount to be paid to or borne therefor,
(c) All costs paid in any suit, if any, filed or defended by
him or her in connection with the contract of
indemnity,
(d) The costs involved in any suit compelled to be made
due to failure to pay the amounts referred to in clause
(a), (b) or (c).
(3) Notwithstanding anything contained in sub-section (2),
if the other party or third party suffers any loss or damage due to
any act done by any person under the direction of such a party when
such an act is done knowingly or recklessly by that person, with the
intention of causing such loss or damage, such a person shall
personally be liable for such loss or damage.