Common use of RestrictionofShareholders/Owners’Liability Clause in Contracts

RestrictionofShareholders/Owners’Liability. 17.6.1 PartiesexpresslyagreeandacknowledgethatnoneoftheshareholdersofthePartiesher etoshallbeliabletotheotherPartiesforanyofthecontractualobligations of the concerned Party under this Agreement. Further, the financialliabilities of the shareholder/s of each Party to this Agreement, shall be restricted totheextentprovided inthe IndianCompaniesAct,2013.