The General Insurance Business Nationalization Act was passed in 1972 to set up the general insurance business. It was the nationalization of 107 insurance
An act to provide for the acquisition and transfer of shares of Indian insurance companies and undertakings of other existing insurers in order to serve better the
GIC of India (GIC Re) is a state owned enterprise in India. It was the sole reinsurance company The entire general insurance business in India was nationalized by the Government of India (GOI) through the General Insurance Business (Nationalization) Act (GIBNA) of 1972. 55 Indian insurance companies and 52 other
THE GENERAL INSURANCE BUSINESS (NATIONALISATION) ACT 1972 in India Bare Acts, Banking and Insurance, Business and Corporate, Constitutional,
20th September, 1972. "By the General Insurance (Emergency Provisions) Ordinance, 1971, which was later replaced by an Act of Parliament the management
The General Insurance Business (Nationalization) Act has been incorporated on 20th September 1972. This Act has been established to
THE GENERAL INSURANCE BUSINESS (NATIONALISATION) ACT, 1972. ACT NO. 57 OF 1972 [ 20th September, 1972.] An Act to provide for the acquisition
Limitation of expenses of management in general insurance business .. Indian Companies Act, 1913 (7 of 1913), or to which the Indian Partnership Act, 1932.
Section 2: Amendment of section 9.-In section 9 of the General Insurance Business (Nationalisation). Act, 1972 (57 of 1972) (hereinafter referred to as the
the year 1999.This Act removed the exclusive privilege of GIC and its subsidiaries to carry on general insurance business in India. The supervisory role .