corporate laws

"Contract of indemnity" defined.-A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a "contract of indemnity".

Illustration

A contracts to indemnify B against the consequences of any proceedings which C may take against B in respect of a certain sum of 200 rupees. This is a contract of indemnity.
According to above defination contract between surety and creditor covers under contract of indemnity.

dear sir I am trying to understand that Sir the contract between surety and creditor can be covered under contract of indemnity???

According to above defination contract between surety and creditor covers under contract of indemnity.

nd sir the contract btwn surety nd principal debtor contract can b covered under indemnity???

yes
Section 145 provides for right of a surety to claim indemnity from the principal debtor for all sums which he has rightfully paid towards the guarantee. 
Section 222 provides for liability of the principal to indemnify the agent in respect of all amounts paid by him during the lawful exercise of his authority.

thanks allot sir