Bare Act Search Results

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (PREPARATION OF FINANCIAL STATEMENTS AND AUDITOR'S REPORT OF INSURANCE COMPANIES)REGULATIONS, 2000 Complete Act

State: Central

Year: 2000

.....over the period of insurance because of the very nature of the risk covered e.g. some infrastructure projects involving varying degrees of risk factor. A deposit premium is paid in such cases at the beginning of the policy period and subsequently adjusted. The basis of determination of premium earned shall be adequately justified, preferably supported by external evidence such as by certification from an actuary and/or other technical experts. Adequate disclosure of such basis shall be made. 3. Premium deficiency.-Premium deficiency shall be recognised if the sum of expected claim costs, related expenses and maintenance costs exceed related unearned premiums. For contracts exceeding four years, once a premium deficiency has occurred, future changes to the liability shall be based on actuarial/technical evaluation. 4. Acquisition costs.-Acquisition costs, if any, shall be expensed in the period in which they are incurred. Acquisition costs are those costs that vary with, and are primarily related to, the acquisition of new and renewal insurance contracts. The most essential test is the obligatory relationship between costs and the execution of insurance contracts (i.e......

Companies Act, 1956 Section 62

Title: Civil Liability for Mis-statements in Prospectus

State: Central

Year: 1956

.....where, under section 58, the consent of a person is required to the issue of a prospectus and he has given that consent, or where, under1[***]sub-section (3) of section 60, the consent of a person named in a prospectus is required and he has given that consent, he shall not, by reason of having given such consent, be liable under this sub-section as a person who has authorised the issue of the prospectus except in respect of an untrue statement, if any, purporting to be made by him as an expert. (2) No person shall be liable under sub-section (1), if he proves- (a) that, having consented to become a director of the company, he withdrew his consent before the issue of the prospectus, and that it was issued without his authority or consent; (b) that the prospectus was issued without his knowledge or consent, and that on becoming aware of its issue, he forthwith gave reasonable public notice that it was issued without his knowledge or consent; (c) that, after the issue of the prospectus and before allotment thereunder, he, on becoming aware of any untrue statement therein, withdrew his consent to the prospectus and gave reasonable public notice of the withdrawal and of.....

Code of Civil Procedure, 1908 Rule 1 to 10

Title: Written Statement, Set-off and Counter-claim

State: Central

Year: 1908

..... (a) produced for the cross-examination of the plaintiffs witnesses, or (b) handed over to a witness merely to refresh his memory.] 2. New facts must be specially pleaded The defendant must raise by his pleading all matters which show the suit not to be maintainable, or that the transaction is either void or voidable in point of law, and all such grounds of defence as, if not raised, would be likely to take the opposite party by surprise, or would raise issues of fact not arising out of the plaint, as, for instance, fraud, limitation, release, payment, performance, or facts showing illegality. 3. Denial to be specific It shall not be sufficient for a defendant in his written statement to deny generally the grounds alleged by the plaintiff, but the defendant must deal specifically with each allegation of fact of which he does not admit the truth, except damages. 4. Evasive denial Where a defendant denies an allegation of fact in the plaint, he must not do so evasively, but answer the point of substance. Thus, if it is alleged that he received a certain sum of money, it shall not be sufficient to deny that he received that particular amount, but he must deny.....

Indian Evidence Act 1872 Section 32

Title: Cases in Which Statement of Relevant Fact by Person Who is Dead or Cannot Be Found, Etc., is Relevant

State: Central

Year: 1872

.....procured, without an amount of delay or expense which under the circumstances of the case appears to the Court unreasonable, are themselves relevant facts in the following cases:-- (1) when it relates to cause of death.-When the statement is made by a person as to the cause of his death, or as to any of the circumstances of the transaction which resulted in his death, in cases in which the cause of that person's death comes into question. Such statements are relevant whether the person who made them was or was not, at the time when they were made, under expectation of death, and whatever may be the nature of the proceeding in which the cause of his death comes into question. (2) or is made in course of business.-When the statement was made by such person in the ordinary course of business, and in particular when it consists of any entry or memorandum made by him in books kept in the ordinary course of business, or in the discharge of professional duly; or of an acknowledgment written or signed by him of the receipt of money, goods, securities or property of any kind; or of a document used in commerce written or signed by him; or of the date of a letter or other document.....

Companies Act, 1956 Section 44

Title: Prospectus or Statement Inlieu of Prospectus to Be Filed by Private Company on Ceasing to Be Private Company

State: Central

Year: 1956

.....a company, being a private company, alters its articles in such a manner that they no longer include the provisions which, under clause (iii) of sub-section (1) of section 3, are required to be included in the articles of a company in order to constitute it a private company, the company - (a) shall, as on the date of the alteration, cease to be a private company; and (b) shall, within a period of1[thirty] days after the said date, file with the Registrar either a prospectus or a statement in lieu of prospectus, as specified in sub-section (2). (2) (a) Every prospectus filed under sub-section (1) shall state the matters specified in Part I of Schedule II and set out the reports specified in Part II of that Schedule, and the said Parts I and II shall have effect subject to the provisions contained in Part III of that Schedule. (b) Every statement in lieu of prospectus filed under sub-section (1) shall be in the form and contain the particulars set out in Part I of Schedule IV, and in the cases mentioned in Part II of the Schedule, shall set out the reports specified therein, and the said Parts I and II shall have effect subject to the provisions contained in Part III of.....

Companies Act, 1956 Section 70

Title: Prohibition of Allotment in Certain Cases Unless Statement in Lieu of Prospectus Delivered to Registrar

State: Central

Year: 1956

.....to mislead, the statement in lieu of prospectus shall be deemed, in respect of such omission, to be a statement in lieu of prospectus in which an untrue statement is included. (7) For the purposes of sub-section (5) and clause (a) of sub-section (6), the expression "included" when used with reference to a statement in lieu of prospectus, means included in the statement in lieu of prospectus itself or contained in any report or memorandum appearing on the face thereof, or by reference incorporated therein, or issued therewith. _____________________ 1. Substituted by Act 53 of 2000, Section 28, for "one thousand rupees" (w.e.f. 13-12-2000). 2. Substituted by Act 53 of 2000, Section 28, for "five thousand rupees" (w.e.f. 13-12-2000).

Companies Act, 2013, Section 129

Title: Financial Statement

State: Central

Year: 2013

.....the financial statements shall not be treated as not disclosing a true and fair view of the state of affairs of the company, merely by reason of the fact that they do not disclose-- (a) in the case of an insurance company, any matters which are not required to be disclosed by the Insurance Act, 1938 (4 of 1938), or the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999); (b) in the case of a banking company, any matters which are not required to be disclosed by the Banking Regulation Act, 1949 (10 of 1949); (c) in the case of a company engaged in the generation or supply of electricity, any matters which are not required to be disclosed by the Electricity Act, 2003 (36 of 2003); (d) in the case of a company governed by any other law for the time being in force, any matters which are not required to be disclosed by that law. (2) At every annual general meeting of a company, the Board of Directors of the company shall lay before such meeting financial statements for the financial year. (3) Where a company has one or more subsidiaries, it shall, in addition to financial statements provided under sub-section (2), prepare a consolidated financial.....

Coal Mines (Nationalisation) Act, 1973 Section 19

Title: Statement of Accounts in Respect of the Period of Management by the Central Government, Etc

State: Central

Year: 1973

.....The statement of accounts prepared under this section shall be audited by a person who is qualified to be appointed as an auditor of a company under section 226 of the Companies Act, 1956, and the auditor so appointed shall receive from the funds of the coal mine, such remuneration as the Central Government may fix. (7) The audit of the statement of accounts shall be conducted in such manner as the Central Government may direct. 3 [(8) The statement of accounts audited under sub-section (6) shall, unless the contrary is proved, be conclusive proof in respect of every matter entered therein. Explanation.-- For the purposes of this section, "statement of accounts" means a statement in the form of receipts and payments, and does not include any statement that may be prepared as a result of the closing and balancing of the books for the preparation of the profit and loss account and balance-sheet or any statement prepared in accordance with the normal commercial practice.] ________________________ 1. 30-11-1974 is the specified date for the purpose of S. 19(3) and 19(4) and the proviso thereto- 2. Substituted by the Coal Mines Nationalisation Laws (Amendment) Act (57 of.....

Fiscal Responsibility and Budget Management Act 2003 Section 3

Title: Fiscal Policy Statements to Be Laid Before Parliament

State: Central

Year: 2003

.....market borrowings and other liabilities, lending and investments, pricing of administered goods and services, securities and description of other activities such as, underwriting and guarantees which have potential budgetary implications; (b) the strategic priorities of the Central Government for the ensuing financial year in the fiscal area; (c) the key fiscal measures and rationale for any major deviation in fiscal measures pertaining to taxation, subsidy, expenditure, administered pricing and borrowings; (d) an evaluation as to how the current policies of the Central Government are in conformity with the fiscal management principles set out in section 4 and the objectives set out in the Medium-term Fiscal Policy Statement. (5) The macro-economic framework statement shall contain as assessment of the growth prospects of the economy with specification of underlying assumptions. (6) In particular and without prejudice to the generality of the foregoing provisions the macro-economic framework statement shall contain an assessment relating to-- (a) the growth in the gross domestic product; (b) the fiscal balance of the Union Government as reflected in the revenue.....

Coking Coal Mines (Nationalisation) Act, 1972 Section 22

Title: Statement of Accounts in Relation to the Period of Management by the Central Government, Etc

State: Central

Year: 1972

.....statement of accounts prepared under the section shall be audited by aperson who is qualified to be appointed as an auditor of a company under Section226 of the Companies Act, 1956, and the auditor so appointed shall receive, fromthe funds of the coking coal mine or coke oven plant, as the case may be suchremuneration as the Central Government may fix. (7)The audit of the statement of accounts shall be conducted in the manner as theCentral Government may direct. 2 [(8)The statement of accounts audited under sub-section (6) shall, unless thecontrary is provided, be conclusive proof in respect of every matter enteredtherein. Explanation.--For the purposes of this section,"statement of accounts" means a statement in the form of receipts andpayments, and does not include any statement that may be prepared as a result ofthe closing and balancing of the books for the preparation of the profit andloss account and balance-sheet or any statement prepared in accordance with thenormal commercial practice.] ________________________ 1.Substituted for sub-sec. (4) bythe Coal Mines Nationalisation Laws (Amdt.) Act (57 of 1986), S. 8 (w.r.e.f.1-5-1972). 2.Inserted by the Coal.....