Court : Supreme Court of India
Reported in : AIR1984SC127; [1984(48)FLR448]; 1984LabIC691; (1984)ILLJ368SC; 1984(1)SCALE539; (1984)3SCC127; [1984]3SCR252; 1984(16)LC500(SC)
..... and the employees. on 13th may, 1971, the government of india assumed management of the general insurance companies under the general insurance (emergency provisions) act, 1972. the general insurance business was nationalised by the general insurance business (nationalisation) act, 1972 (act 57 of 1972). the preamble of the act explains the purpose of ..... no question as to whether the provisions of industrial disputes act would prevail over the provisions of general insurance business (nationalisation) act. there is no industrial dispute pending as such. the general insurance business (nationalisation) act, 1972 has not abrogated the industrial disputes act, 1957 as such.44. the question ..... . in this connection mention was made in the petition of the 'memorandum regarding delegated legislation' submitted to the parliament along with the general insurance business (nationalisation) bill, 1972 (bill no. 60 of 1972), which later became the aforesaid act. it was made explicit, according to the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2001SC1493; JT2001(3)SC554; 2001(2)SCALE586; (2001)5SCC212; 2001(2)SCT656(SC); (2001)2UPLBEC1232
..... every notification made, or purporting to have been made by the central government under sub-section (6) of the said section 16, before the commencement of the general insurance business (nationalisation) amendment ordinance, 1984, in so far as such scheme or notification provides (whether with or without retrospective effect) for any rationalisation or revision of pay scales ..... act and every notification made or purporting to have been made with retrospective effect under sub-section (6) of that section before the commencement of the general insurance business (nationalisation) amendment ordinance, 1984 shall be, and shall be deemed always to have been, for all purposes, as valid and effective as if the amendment made ..... rajendra babu, j.1. the genesis of dispute in these matters is embedded in the various schemes framed under the general insurance business (nationalisation) act, 1972 (act 57 of 1972) as amended from time to time (hereinafter referred to as 'the act'). 2. the preamble .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2008SC2657; 2008(4)SCALE768; (2008)5SCC472; 2008AIRSCW4438
..... or purporting to have been made by the central government under sub-section (6) of the said section 16, before the commencement of the general insurance business (nationalisation) amendment ordinance, 1984, insofar as such scheme or notification provides (whether with or without retrospective effect) for any rationalisation or revision of ..... notification made or purporting to have been made with retrospective effect under sub-section (6) of that section before the commencement of the general insurance business (nationalisation) amendment ordinance, 1984 shall be, and shall be deemed always to have been, for all purposes, as valid and effective as ..... and conditions of service notwithstanding that such further rationalisation or revision is unrelated to, or unconnected with, the amalgamation of insurance companies or merger consequent on nationalisation of general insurance business. (3) the central government may, by notification, add to, amend or vary any scheme framed under this section.( .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2008ACJ2399; 2008(5)ALLMR(SC)928; (2008)3CALLT1(SC); (2008)3GLR2356(SC); (2008)5MLJ1006(SC); (2008)151PLR644; 2008(7)SCALE377; (2008)10SCC404; 2008AIRSCW7532; AIR2009SC446; 2008AIRSCW7532
..... automatic, is the question involved herein.background facts3. the parliament enacted the general insurance business (nationalisation) act 1972 (for short 1972 act) to provide for the acquisition and transfer of shares of insurance companies and undertakings of other insurers in order to serve better the need of the economy by securing the development of general insurance business in the best interest of the community and to ensure that the ..... corporation.- all the shares in the capital of the acquiring companies, being--(a) the national insurance company limited;(b) the new india assurance company limited;(c) the oriental insurance company limited;(d) the united india insurance company limited,and vested in the corporation before the commencement of the general insurance business (nationalisation) amendment act, 2002 shall, on such commencement, stand transferred to the central government.section 19 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2001]107CompCas14(SC); JT2001(6)SC125; 2001(4)SCALE675; (2001)6SCC477; 2002(1)LC93(SC); (2001)3UPLBEC2470
..... high court be set aside. we find substance in the argument.3. under section 9 of the general insurance business (nationalisation) act, 1972 ('the act'), general insurance corporation of india (gic) was set up as a government company for the purpose of superintendence, control and, carrying out the business of general insurance in the country. under section 24 of the act, the acquiring companies were given the exclusive privilege ..... supervision and control of gic. excepting the acquiring companies, no other company in private sector has a right and privilege to carry on general insurance business in india and to that extent, the acquiring companies have a monopoly over such business. in such a situation, acquiring companies have the trappings of 'the state' being other authorities under article 12 of the constitution of india .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1999SC3769; [1999]240ITR139(SC); JT1999(7)SC282; 1999(6)SCALE33; (1999)8SCC60; [1999]Supp2SCR742
..... specific prohibition for such an allowance, the departmental authorities would not be justified in adding back the amount under that clause; and thirdly, if rule 2(2)(a) of the general insurance business (nationalisation) rules, 1973 be read as providing that the amount so set apart for redemption of preference shares was an expenditure, the fiction should be taken to its logical conclusion so ..... direct tax laws (amendment) act 1987 '43b' has been substituted in place of '43a' in both the provisions]4. the problem is created by rule 2(2)(a) of the general insurance business (nationalisation) rules 1973 (hereinafter g i b rules, for short) framed by the central government in exercise of the powers conferred by section 39 of the g i b act, the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1985SC1405; [1985(51)FLR354]; (1985)IILLJ580SC; 1985(2)SCALE123; (1985)3SCC686; 1985(17)LC825(SC)
..... and transferred cases arise out of problems connected with the integration of services consequent on the nationalisation of general insurance business. the management of the undertakings of all insurers carrying on general insurance business was vested in the central government, pending nationalisation, by the general insurance (emergency provisions) ordinance. the process of nationalisation was completed by the enactment of the general insurance business (nationalisation) act, 1972, providing for the acquisition and transfer of shares of indian .....
Tag this Judgment!Court : Supreme Court of India
..... other conditions of service of development staff) amendment scheme 2003 framed by the central government in exercise of the powers in section 17a of the general insurance business (nationalisation) act 1972. the said scheme is a delegated legislation which is statutory in character. the validity of the said statutory scheme has been ..... , j.1. the respondents were working as development officers under the appellant - new india assurance co. ltd. section 17a of the general insurance business (nationalisation) act, 1972 ('the act', for short) inserted by the amendment act 3 of 1985 empowered the central government to regulate, by ..... other conditions of service of development staff) amendment scheme, 2003, made by the central government in exercise of the power under section 17a of the general insurance business insurance (nationalisation) act, 1972. section 17a, as noticed above, authorizes and empowers the central government, to frame, by notification published in the official gazette, .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2009(4)BomCR774; JT2008(9)SC551; 2008(11)SCALE391; (2008)9SCC720; 2008(2)LC1155(SC); 2008(6)Supreme89
..... corporation does not have to be established by a central or state act. it can also be established under a central or state act, for example, gic is established under general insurance business nationalisation act, 1972 as a government company. therefore, according to the learned counsel, if section 3(1)(b) is read in the manner suggested by the respondent the words psus in ..... because the expression 'or under' subsumes all forms of corporations so established. learned counsel further submitted that section 16 of general insurance business (nationalisation) act, 1972, in particular sub-section (2), shows that four companies, including oic and uic, render combined services of general insurance business all over india. according to the learned counsel, all the said four companies are the government companies which even on the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : I(2001)ACC618; 2001ACJ827; AIR2001SC1832; 2001(3)ALT34(SC); [2001]105CompCas743(SC); (2001)3GLR2156; JT2001(4)SC477; 2001(2)KLT235(SC); (2001)2MLJ180(SC); RLW2001(2)SC231;
..... of reasonable efforts for the purpose; (c) 'scheme' means the scheme framed under section 163. (2) notwithstanding anything contained in the general insurance business (nationalisation) act, 1972 (57 of 1972) or any other law for the time being in force or any instrument having the force of law, the ..... general insurance corporation of indian formed under section 9 of the said act and the insurance companies for the time being carrying on general insurance business in india shall provide for paying in accordance with the provisions of this act and the ..... compensation or of pursuing his claim through the normal channels. thereafter, the review committee considered the suggestion of general insurance corporation that claimants should first file their claims with motor accident claims tribunals and the insurers be allowed six months' time to confirm their prima facie liability subject to defences available under the act. .....
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