General Insurance Business (Nationalisation) Act,1972
Act No : 57
Section :
Amounts to be paid
THE SCHEDULE (See section 11) Amounts to be paid PART-A ---------------------------------------------------------------------- Sl. Name of Indian Insurance Company Amount to be paid No. ---------------------------------------------------------------------- (1) (2) (3) ---------------------------------------------------------------------- Rs. 1. All India General Insurance Company Ltd. . . . 10,00,000 2. Anand Insurance Company Ltd. . . .Preference Shares . . 3,50,000 Equity Shares 2,00,000 3. Bhabha Marine Insurance Company Ltd. . . . . . . 54,448 4. Bharat General Reinsurance Ltd. . Preference Shares . . 8,18,000 Ordinary Shares . . 13,49,844 5. British India General Insurance Company Ltd. . . . . . . . . . . . 37,50,000 6. Calcutta Insurance Limited . . . . . . . 7,49,442 7. Central Mercantile Assurance Company Ltd. . . . . . . . . . . . 3,38,499 8. Clive Insurance Company Ltd. . . . . . . . 26,12,600 9. Commonwealth Assurance Company Ltd. . . . . . 1,000 10. Concord of India Insurance Company Ltd. . . . . 39,77,100 11. Devkaran Nanjee Insurance Company Ltd. . . . . 16,80,000 12. General Assurance Society Ltd. . . . . . . . 80,06,000 13. Hercules Insurance Company Ltd. . . . . . . 87,48,000 14. Hindusthan General Insurance Society Ltd. . . . 15,52,500 15. Hindusthan Ideal Insurance Company Ltd. . . . . 25,20,605 16. Howrah Insurance Company Ltd. . . . . . . 975 17. Hukumchand Insurance Company Ltd. . . . . . 10,00,000 18. India Reinsurance Corporation Ltd. . . . . . 2,05,02,200 19. Indian Guarantee & General Insurance Company Ltd.. 1,95,69,760 20. Indian Mercantile Insurance Company Ltd. . . . 50,33,195 21. Indian Merchants' Marine Insurance Company Ltd. . 2,28,753 22. Indian Ocean Insurance Company Ltd. . . . . 1,00,000 23. Indian Trade & General Insurance Company Ltd. . 61,21,200 24. Jalanath Insurance Ltd. . . . . . . 10,42,955 25. Jupiter General Insurance Company Ltd. . . . 26,24,445 26. Kalyan Marine Insurance Company Ltd. . . . . 1,79,880 ---------------------------------------------------------------------- 226 ---------------------------------------------------------------------- Sl. Name of Indian Insurance Company Amount to be paid No. ---------------------------------------------------------------------- (1) (2) (3) ---------------------------------------------------------------------- 27. Liberty Insurance Company Ltd. . . . . . . . 1,000 28. Madras Motor and General Insurance Company Ltd. . 1,77,69,600 29. Madura Insurance Company Ltd. . Preference . Shares . . 700 Ordinary Shares . . 15,83,900 Deferred Shares . . 12,500 30. Marine & General Insurance Company Ltd. . . . 8,95,300 31. Mother India Fire & General Insurance Company Ltd. 7,44,345 32. Motor Owners' Insurance Company Ltd. . . . . . 1,65,575 33. Naranji Bhanabhai & Company Ltd. . . . . . 49,200 34. Narhari Marine Insurance Company Ltd. . . . 2,36,400 35. National Insurance Company Ltd. . . . . . 60,58,158 36. Neptune Assurance Company Ltd. . . . . . 10,00,000 37. New Great Insurance Company of India Ltd. . . . 43,50,000 38. New India Assurance Company Limited . . . . . 8,20,37,678 39. New Merchants Insurance Company Ltd. . . . . . 68,918 40. New Premier Insurance Company Ltd. . . . . . . 1,21,110 41. Northern India General Insurance Company Ltd. . . 998 42. Oriental Fire & General Insurance Company Ltd. . . 2,43,98,000 43. Pandyan Insurance Company Ltd. . . . . . . 90,00,000 44. Pioneer Fire & General Insurance Company Ltd. . . 11,82,610 45. Porbandar Insurance Company Ltd. . . . . . . 59,194 46. Prachi Insurance Company Ltd. . . . . . . 21,373 47. Ruby General Insurance Company Ltd.. . . . . 1,38,74,000 48. Shree Mahasagar Vima Company Ltd. . . . . . 1,18,252 49. South Indian Insurance Company Ltd. . . . . . 60,63,000 50. Sterling General Insurance Company Ltd. Preference Shares . . 23,000 Ordinary Shares . . 16,08,139 51. Triton Insurance Company Ltd. . . . . . 47,07,180 52. United India Fire & General Insurance Company Ltd. . . . . . 21,39,991 53. Universal Fire & General Insurance Company Ltd. . . . . . 24,71,618 54. Vanguard Insurance Company Ltd. . . . . . 896 55. Vulcan Insurance Company Ltd. . . . . . 32,49,617 ---------------------------------------------------------------------- 227 PART-B ---------------------------------------------------------------------- Sl. Name of insurer Amount to No. be paid ---------------------------------------------------------------------- (1) (2) (3) ---------------------------------------------------------------------- Rs. 1. Co-operative Fire & General Insurance Society Ltd. 18,69,000 2. Co-operative General Insurance Society Ltd. . . 5,93,000 3. Indian Mutual General Insurance Society Ltd. . . 1,40,000 4. Life Insurance Corporation of India. . . . . . 2,81,34,000 5. Millowners' Mutual Insurance Association Ltd. . . 12,89,000 6. Orissa Co-operative Insurance Society Ltd. . . . 2,83,000 7. Reinsurance Association of India (International) Ltd. 13,000 8. Union Co-operative Insurance Society Ltd. . . . 37,60,000 9. Alliance assurance Company Ltd. . . . . . . 36,65,000 10. American Insurance Company . . . . . . . 3,30,000 11. Atlas Assurance Company Ltd. . . . . . . . 64,85,000 12. Baloise Insurance Company Ltd.. . . . . . . 22,67,000 13. British Aviation Insurance Company Ltd.. . . . 1,000 14. Caledonian Insurance Company . . . . . . . 81,000 15. Century Insurance Company Ltd.. . . . . . . 6,04,000 16. Commercial Union Assurance Company Ltd. . . . . 85,20,000 17. Eagle Star Insurance Company Ltd. . . . . . . 37,12,000 18. Gerling Global Reinsurance Company Ltd. . . . . 1,000 19. Great American Insurance Company . . . . . . 3,81,000 20. Guardian Assurance Company Ltd. . . . . . . 19,98,000 21. Hanover Insurance Company . . . . . . 42,13.000 22. Hartford Fire Insurance Company . . . . . . 2,96,000 23. Home Insurance Company . . . . . . 3,73,000 24. Legal & General Assurance Society Ltd. . . . . 5,28,000 25. Liverpool and London and Globe Insurance Company Ltd. . . . . . . . . . . . . 8,23,000 26. London Assurance . . . . . . . . . . . 12,30,000 27. London Guarantee & Accident Company Ltd. . . . 40,000 28. London & Lancashire Insurance Company Ltd. . . . 47,70,000 29. L'Union Fire, Accident and General Insurance Company Ltd. . . . . . . . . . . . . . 1,000 30. National Employers' Mutual General Insurance Association Ltd. . . . . . . . . . . . 3,17,003 31. National Insurance Company of New Zealand Ltd. . 1,000 32. New Hampshire Insurance company . . . . . . 19,08,000 33. New Zealand Insurance Company Ltd. . . . . . 10,84,000 34. Norwich Union Fire Insurance Society Ltd. . . . 31,43,000 ---------------------------------------------------------------------- 228 --------------------------------------------------------------------- Sl. Name of insurer Amount to No. be paid --------------------------------------------------------------------- (1) (2) (3) --------------------------------------------------------------------- 35. Phoenix Assurance Company Ltd. . . . . . . 2,63,000 36. Provincial Insurance Company Ltd. . . . . . 1,000 37. Queensland Insurance Company Ltd. . . . . . 10,31,000 38. Royal Exchange Assurance . . . . . . . 49,62,000 39. Royal Insurance Company Ltd. . . . . . . 73,28,000 40. Scottish Union & National Insurance Company . . 43,15,000 41. Skandia Insurance Company Ltd. . . . . . 1,000 42. South British Insurance Company Ltd. . . . . . 18,42,000 43. Sun Insurance Office Ltd . . .. . . . . . . 25,86,000 44. Switzerland general Insurance Company Ltd. . . . 6,35,000 45. Threadneedle Insurance Company Ltd. . . . . . 1,000 46. Tokio Marine & fire Insurance Company Ltd. . . . 92,000 47. Union Insurance Society of Canton Ltd. . . . . 5,89,000 48. United Scottish Insurance Company Ltd. . . . . 83,000 49. Welfare Insurance Company Ltd. . . . . . . . 1,000 50. Western Assurance Company . . . . . . . . 13,92,000 51. Yorkshire Insurance Company Ltd. . . . . . 16,31,000 52. Zurich Insurance Company Ltd. . . . . . . . 1,000 ----------------------------------------------------------------------
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