| FORM NL-16-ADVANCES AND OTHER ASSETS SCHEDULE |
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| Name of the
Insurer: GENERAL INSURANCE CORPORATION OF INDIA |
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| ADVANCES AND
OTHER ASSETS |
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(` '000) |
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Particulars |
As at
30.06.2019 |
As at
30.06.2018 |
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ADVANCES |
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| 1 |
Reserve deposits with
ceding companies |
79431 434 |
64536 541 |
| 2 |
Application money for
investments |
533 434 |
0 |
| 3 |
Prepayments |
108 508 |
55 216 |
| 4 |
Advances
to Directors/Officers |
6 355 |
5 823 |
| 5 |
Advance tax paid and
taxes deducted at source (Net of provision for taxation) |
5909 455 |
647 786 |
| 6 |
Others |
906 183 |
106 387 |
| 7 |
Deferred Commission |
0 |
0 |
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TOTAL (A) |
86895 369 |
65351 753 |
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OTHER ASSETS |
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| 1 |
Income accrued on
investments |
10917 611 |
10091 987 |
| 2 |
Outstanding Premiums |
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| 3 |
Agents’ Balances |
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| 4 |
Foreign Agencies Balances |
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| 2 |
Due from other entities
carrying on insurance business (including reinsurers) |
231169 665 |
227898 498 |
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Less:Provision for
Doubtful Loans, Investment and Debts |
7161 933 |
6110 671 |
| 6 |
Due from subsidiaries/
holding |
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|
224007 732 |
221787 827 |
| 3 |
Deposit U/S-7 of
Insurance Act |
0 |
0 |
| 4 |
Sundry Debtors |
324 290 |
876 851 |
| 5 |
Sundry Deposits |
11559 642 |
8987 183 |
| 10 |
LPA Assets |
0 |
0 |
| 6 |
Provision for Gratuity |
69 |
0 |
| 7 |
MAT Credit Entitlement |
14442 939 |
18864 155 |
| 8 |
Service Tax Unutilised
Credit |
0 |
0 |
| 9 |
GST Asset |
1547 528 |
1910 176 |
| 10 |
VAT Assets Dubai |
0 |
0 |
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TOTAL (B) |
262799 811 |
262518 179 |
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TOTAL (A+B) |
349695 180 |
327869 932 |
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3 |
-234009 170 |
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| Notes: |
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| (a) The items under the above heads shall not be shown net of
provisions for doubtful amounts. The amount of provision against each head
should be shown separately. |
| (b) The term ‘officer’ should conform to the definition of that
term as given under the Companies Act, 2013. |
| (c) Sundry Debtors will be shown under item 9(others) |
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