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 : Gujarat
Reported in : (2004)1GLR637; [2004]53SCL330(Guj)
..... towards securing the principles specified in clause (c) of article 39 of the constitution.13. the entire general business in india was nationalised by the general insurance business (nationalisation) act, 1972. the government of india, through nationalisation, took over the shares of 55 indian insurance companies and the undertakings of 52 insurers carrying on general insurance business. general insurance corporation of india (g.i.c.) was formed in pursuance of section 9(1) of the ..... to ensure that the operation of the economic system does not result in the concentration of wealth to the common detriment and for regulation and control of such business, the parliament enacted the general insurance business (nationalisation) act, 1972 (act 57 of 1972) which by section 2 declared that the said act was enacted for giving effect to the policy of the state as defined .....
Tag this Judgment!Court : Patna
..... the petitioner-company can be prosequted being public servants is section 107a of the insurance act, 1938 read with section 38 of the general insurance business (nationalisation) act, 1972 (hereinafter referred to as general insurance business act, for brevity). section 107a which came by amendment, by insurance (amendment) act, 1968 (act 62 of 1968), with effect from 1- ..... be quashed. secondly, the officers and employees of the petitioner company enjoy protection under section 38 of the general insurance business (nationalisation) act, 1972 and being public servants in terms of section 107a of the insurance act, 1938 read with section 21, clause 12th, of the indian penal code, they cannot be ..... that the officials of the petitioner-company are public servants in terms of section 107a of the insurance act, 1938 with effect from 1-6-69, and read with section 38 of the general insurance business (nationalisation) act, 1972 they cannot be prosecuted for any act done by them in good faith .....
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 : Delhi
Reported in : 14(1978)DLT56; [1978]41STC30(Delhi)
..... the petitioner's trade, assets and properties are that of the central government with effect from 2nd january, 1973, by virtue of sections 4(1) and 5(1) of the general insurance business (nationalisation) act, 1972, and, as such, the same being the property of the union government, is exempt from state tax by virtue of article 285 of the constitution of india. two ..... provisions) ordinance, 1971, which was later replaced by an act of parliament, the management of the undertaking of all insurers carrying on general insurance business was vested in the central government, pending nationalisation. in the year 1972, the parliament enacted an act known as the general insurance business (nationalisation) act of 1972 (hereinafter referred to as the act). section 3(b) defines the 'appointed day' as meaning such day .....
Tag this Judgment!Court : Kerala
Reported in : 1998ACJ900; AIR1998Ker184
..... time, the corporation found that the reserve amount in the fund was not enough for the discharge of the claims. hence it decided to insure its vehicles with the insurance company.5. the general insurance business in india has been nationalised by the general insurance business (nationalisation) act, 1972. section 2 of the act says that the act was promulgated for giving effect to the policy of the state towards ..... of this case, i am of the view that this is a case where the general insurance corporation of india and the other general insurance companies have not acted in the way in which they were expected to act. the general insurance corporation of india was formed on the basis of the general insurance business (nationalisation) act, which declared that the policy of the act is to promote the directive .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)2GLR1642
..... 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 ..... 6 scc 477; wherein, the conduct of nationalised insurance company has been condemned by the supreme court. relevant para 3 of the said decision is quoted as under :'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 ..... 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 .....
Tag this Judgment!Court : Chennai
Reported in : (1980)ILLJ369Mad
..... the aggregate or cumulative effect of all the relevant factors that is controlling.' 5. it is against the background of these general observations made by the supreme court, we proceed to consider the status and character of the appellant-company. the general insurance business (nationalisation) act, 1972, central act 57 of 1972, was passed to provide for the acquisition and transfer of shares of indian ..... the zonal manager. later under the provisions of act 17 of 1971 the management of the union co-operative insurance society limited, hereinafter referred to as the society, was taken over by the central government and entrusted to a custodian. subsequently the general insurance business (nationalisation) act, 57 of 1972, came into force, and under a notification issued thereunder the said society merged with the .....
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