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 : 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 : Gujarat
Reported in : 2004ACJ1657
..... the principles specified in clause (c) of article 39 of the constitution.13. the entire general business in india was nationalized by the general insurance business (nationalization) act, 1972. the government of india, through nationalization, 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 (gic) was formed in pursuance of section 9(1) of the act ..... that existed at that time, on the basis of which, it was held that they were having trappings of 'state'. it was contended that since the monopoly of these insurance companies and general insurance business statutorily ceased in 1999, in view of the amendment in the act of 1972 by insertion of section 24a, they ceased to have trappings of state, and that the .....
Tag this Judgment!Court : Gujarat
Reported in : IV(2006)ACC345; 2006ACJ2019; AIR2006Guj120; (2006)2GLR1257
..... government for the purpose of paying compensation in cases of hit-and-run motor accidents. the fund will consist of contributions by the general insurance corporation and insurance companies carrying on general insurance business in india, contributions by the central government, state governments and other sums which may be received for being credited to it from ..... .18. in a recent decision in state of haryana v. darshan devi 1979 acj 205 this court observed:-now that insurance against third party risk is compulsory and motor insurance is nationalised and transport itself is largely by state undertakings, the principle of no fault liability and on the spot settlement of claims ..... compensation may be paid every month to the dependents according to their share for the period to which they are entitled.21. the insurance companies are now nationalised and the necessity for awarding lump sum payment to secure the interest of the dependents is no longer there. regular monthly payments could be .....
Tag this Judgment!Court : Gujarat
Reported in : 2009ACJ1733; 2008GLH(1)616; (2008)2GLR1357
..... definitions.- in this chapter,-(a) 'authorised insurer' means an insurer for the time being carrying on general insurance business in india under the general insurance business (nationalisation) act, 1972 (57 of 1972), and any government insurance fund authorised to do general insurance business under that act;(b) ...(c) ..... 'liability', wherever used in relation to the death of or bodily injury to any person, includes liability in respect thereof under section 140;(d) ...(e) ...(f) ...(g) 'third party' includes the government.146. necessity for insurance ..... judgments for the observations as under made therein were cited and discussed at the bar:(a) in bajaj allianz general insurance co. ltd. v. belaben @ bhumikaben yatinkumar in first appeal no. 4104 of 2006 (judgment dated 14. .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1978Guj46
..... been confirmed __jnappeal, the plaintiff has filed this latters, patent appeal3. unfortunately, both the court attention was not drawn to the relevant provision in s. 46 of the insurance a4 1938. even under the general insurance business (nationalisation) act, 1972, under s. 35, it is in terms provided as under:-'35. subject to such exceptions, restrictions and limitations, if any, as the central government may ..... corporation and ' every acquiring company -as if the corporation or the acquiring company, as the case may be, were an insurer carrying on general business within the meaning of that act.'in the relevant notification which has been issued under s. 35 of this general insurance business (nationalisation) act, 1972, by the central government specifying the exceptions, restrictions -and limitations on mc. 29, 1972, while laying down .....
Tag this Judgment!Court : Gujarat
Reported in : (1999)3GLR2604
..... ) act, 1972, the central government has made a scheme called 'general insurance' (employees') pension scheme, 1995 ('pension scheme' for short). the pension scheme has come into force on ..... insurance co. ltd., who accepted the resignation of the appellant with effect from april 1, 1987. the intimation given by the regional manager to the appellant is produced on the record of the case at annexure-b to the petition. in exercise of powers conferred by section 17-a of the general insurance business (nationalisation ..... service of supervisory, clerical and subordinate staff) scheme, 1974, (ii) the retirement in accordance with the provisions contained in paragraph 4 of the general insurance (termination, superannuation and retirement of officers and development staff) scheme, 1976, and (iii) voluntary retirement in accordance with the provisions contained in .....
Tag this Judgment!Court : Gujarat
Reported in : 1981ACJ277; (1981)0GLR555
..... not rest there. the learned counsel for the claimants has placed on record a communication issued by the tariff advisory committee, bombay regional committee, to the insurers carrying on general insurance business in the bombay region only. it is in the following terms : 'tariff advisory committee bombay regional committee circular m.v. no. 1 of 1978 bombay ..... be altered by virtue of the decision in pushpabai's case, air 1977 sc 1735, rendered on 25th march, 1977. the insurance business having been nationalised it is but reasonable to expect the insurers not to take advantage of the altered situation and to continue to discharge their obligation as hitherto. no doubt, the aforesaid instructions ..... shall be paid to harshvardhatiya, the minor son of ranvir. the amount payable to the minor child shall be deposited in a fixed deposit with a nationalised bank. the fixed deposit receipts shall be encashable on appellant no. 1 attaining the age of 21 years. till then, the amount of interest accruing .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1996Guj54; (1995)2GLR1137
..... authorised testing stations. 11. deterrent punishment in cases of certain offences. 12. administration of the solatium scheme by the general insurance corporation. 13. liberalised scheme for grant of stage carriage permits on non-nationalised routes, all india tourist permits and also national permits or goods carriage. 18. since the question of interpretation and ..... economical to run. with the great encouragement from the then government of saurashtra and thereafter on formation of the state of gujarat since 1960, the business of manufacturing and assembling of rickshaws was thriving in various parts of saurashtra and particularly in the city of jamnagar etc. and thereby the state ..... licences under the central excises and salt act, 1944. some of the petitioners have also relied on the historical background which has led to thriving of business of assembling of rickshaws. according to the petitioners case, in the year 1956, at the time of formation of the erstwhile state of saurashtra, .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)IIILLJ380Guj
..... acquiring, holding and disposing of properties. under section 6(1), subject to the rules, if any, made by the central government, it was general duty of the corporation to carry on life insurance business, whether in or outside india. under section 30 of the act, the corporation was given the exclusive privilege of carrying on the life ..... the constitution of india. it was finally contended that, even if the provisions of section 30 were attracted, the petitioner trade union was not doing any life insurance business, looking to the nature of the scheme, since there was no profit motive involved under the scheme.5. the learned counsel appearing for the respondent no.1 ..... which the general funds of the trade union may be spent. the object indicated in clause (f) that the fund may be spent on allowances to members or their dependants on account of death, old age, sickness, accidents or unemployment of such members, cannot be so read as to authorize running of life insurance business in .....
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