Judgment Search Results Home > Cases Phrase: general insurance business nationalisation act 1972 section 36 exemptions Page 3 of about 10,991 results (0.209 seconds)

S. Visweswariah Vs. New India Assurance Co. Ltd. and anr.

Court : Karnataka

Reported in : [1989(58)FLR568]; (1988)IILLJ233Kant

..... as 'the act'). the act has been given retrospective effect from 13th may 1971, the day on which the ordinance was promulgated. the process of nationalization of the general insurance was completed by enacting the general insurance business (nationalisation) act, 1972, (central act 57 of 1972), (hereinafter referred to as '1972 act'), by which act and the scheme framed thereunder by the central government, the company ..... provisions) ordinance, 1971, (no. 6 of 1971), (hereinafter referred to as 'the ordinance'), pending complete nationalisation of general insurance in the country, inter-alia providing for transfer of the management of the undertakings of general insurance to the central government. consequently from 13th may 1971 the business of the vanguard insurance co., ltd. (hereinafter referred to as 'the company') stood vested in the central government. the ordinance .....

Smt. Leelabai Gajanan Pansare and ors. Vs. the Oriental Insurance Co. ...

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 .....

Delhi Transport Corporation Vs. National Insurance Co. Ltd.

Court : Delhi

Reported in : 2007ACJ527; 130(2006)DLT58; 2006(89)DRJ82; (2006)144PLR37

..... supreme court in biman krishna bose's cases (supra). it had been observed that:3. under section 9 of the general insurance business (nationalisation) act, 1972 (hereinafter referred to as the act), general insurance corporation of india (in short gic) was set up as a government company for the purpose of superintendence, control and ..... of the act makes it evident that it is only the acquiring companies which have exclusive privilege of carrying on the general insurance business in india, under the supervision and control of general insurance corporation of india. excepting the acquiring companies, no other company in the private sector has a right and privilege to ..... carrying out the business of general insurance in the country. under section 24 of the act, the acquiring companies were given the exclusive privilege to carry on general insurance business in india. under section 3(a) of the act, an acquiring company has .....

General Insurance Employees, Association (South Zone) Rep. by Its Gene ...

Court : Chennai

Reported in : (2002)IVLLJ855Mad

..... ., in 1961 as junior assistant at their madras office. subsequently, he was promoted and made as a senior assistant. during 1972, the business of general insurance was nationalised by the general insurance business (nationalisation) act. 1972 and the said company was also nationalised. subsequent to the nationalisation, the unit in which t.s. santhanam was working came to be attached to the second respondent, which is one of the subsidiary ..... companies formed under the general insurance corporation. by virtue of powers conferred under section 16 of the act, the central government framed a scheme known as general insurance (nationalisation .....

Purnima Prasad and ors. Vs. the Oriental Insurance Company Limited and ...

Court : Patna

..... record their counter affidavit and have opposed the writ petition, it is stated in the counter affidavit that section 24 of the general insurance business (nationalisation) act 1972 (hereinafter referred to as the '1972 act') provided that the corporation and acquiring companies including the respondent company shall have exclusive ..... reasonable manner without arbitrariness, in providing cover to persons in the field of general insurance. it is the statutory duty of these government insurance companies 'to carry on general insurance business' and to so function under the act 'as to secure that general insurance business is developed to the best advantage of the community'. after all, public ..... the act of 1972 (in force with effect from 19.4.2000), the exclusive privilege of the company and its subsidiary in carrying on general insurance business in india has been removed. however, despite entry of private companies in the field, these government companies cannot overlook the underlying object of .....

Nusli Neville Wadia Vs. New India Assurance Co. Ltd. and anr.

Court : Mumbai

Reported in : 2006(4)BomCR345; 2006(3)MhLj713

..... mr. dada, the learned senior counsel appearing for the petitioner has brought to our notice that the respondent no. 1 is a company formed under the general insurance business (nationalisation) act, 1972 and he pointed out section 23 therein, which reads as under:--power of central government to issue directions:-- the corporation and every acquiring company ..... , 1972 as a genuine lawful tenant. the petitioner has been regularly paying all the rent and permitted increases to respondent no. 1 which is a nationalised insurance company. suddenly, the petitioner received a notice dated 9-2-2001 from respondent no. 1 terminating the monthly tenancy of the petitioner. the petitioner by ..... 2(e)(2)(ii) of the public premises act, like the nationalised banks and the life insurance corporation, are trading corporations and under the provisions of the enactments whereby they are constituted these corporations are required to carry on their business with a view to earn profit, and that there is nothing to .....

The Oriental Insurance Co. Ltd. Vs. Smt. Santosh Devi Goyal and ors.

Court : Kolkata

Reported in : 1999ACJ1195,(1998)2CALLT582(HC)

..... act, the provision of the insurance act has been applicable. section 35 of the general insurance business (nationalisation) act, 1972 reads thus :--'section. 35. application of insurance act.--subject to such exceptions, restrictions and ..... is received or is guaranteed. thus, it will not be correct to contend that the insurance act makes a prohibition altogether that no contract of insurance can be entered into unless actually the premium has been paid. the insurance business of the appellant is governed by the provision of the general insurance business (nationalisation) act, 1972. it is true that in terms of section 35 of the said .....

Swarnalata Dutta Barua and anr. Vs. National Transport India Pvt. Ltd. ...

Court : Guwahati

..... the respondent no. 2 took a legal objection that after the passing of the general insurance business (nationalisation) act 1972, the respondent no. 2 should have been substituted by the . general insurance corporation of india. there is no force in this contention. indian insurance companies were, not wiped out by the above act and at any rate their undertakings ..... of the learned counsel for the respondent no. 2 (m/s. new india assurance co. ltd.) was that the company having been nationalised in the meantime, the corporation of general insurance should have been substituted as respondent in place of the present respondent no. 2 and that no decree can be passed against this company ..... that falls for determination is the quantum of compensation to which the appellants are entitled. as observed by g. k. misra, c. j., in oriental fire and general insurance co. ltd. v. kamal kamini das, 1972 acc cj 92 = (air 1973 orissa 33):-- 'despite a self-contained code of procedure of adjudication of claims .....

United India Insurance Company Limited Vs. Narinder Mohan Arya

Court : Punjab and Haryana

Reported in : (1994)107PLR244

..... are transferred and vested in the central government free of trust and liabilities. the monopoly on insurance business is created in favour of the four companies. ..... in the light of these tests, counsel urged that the insurance company would be a state within the meaning of article 12 of the constitution of india. learned counsel contended that the insurance company is one of the four insurance companies nationalised under the general insurance business (nationalisation) act, 1972, all the shares of the company ..... of the constitution of india. in support of the submission, he relied upon the decision of this court in m.l. nohria v. general insurance corporation of india, (1979)81 p.l.r. 431. it is undoubtedly true that a division bench of this court in a detailed judgment .....

Anil Kumar Gupta Son of Late Sri Om Prakash Gupta Vs. the Oriental Ins ...

Court : Allahabad

Reported in : [2006(111)FLR237]

..... paid under section 11 as additional contribution, stands allotted and vested in central government. section 16 authorities central government for more efficient carrying on general insurance business, by way of notification, frame one or more schemes. the matters have also been provided for. section 17 authorises central government to frame ..... to this section mentions that all functions of corporation, specified in this section, on the commencement of general insurance business (nationlasation) amendment act, 2002 shall be performed by central government. section 21(2) authorises central government to appoint custodian for management of indian ..... instant writ petitions are that m/s oriental insurance company limited is a constituent company of general insurance corporation of india. it is wholly owned and controlled by central government under the provisions of general insurance business (nationalization) act, 1972 and m/s oriental insurance company limited is obligated to act in the .....