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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 31.12.2019 |
As at 31.12.2018 |
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ADVANCES |
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1 |
Reserve deposits with ceding companies |
92785 734 |
67081 648 |
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2 |
Application money for investments |
0 |
0 |
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3 |
Prepayments |
59 651 |
51 872 |
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4 |
Advances to Directors/Officers |
5 778 |
9 885 |
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5 |
Advance tax paid and taxes deducted at source (Net of provision for taxation) |
7217 682 |
610 557 |
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6 |
Others |
787 325 |
119 522 |
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7 |
Deferred Commission |
0 |
0 |
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TOTAL (A) |
100856 170 |
67873 484 |
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OTHER ASSETS |
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1 |
Income accrued on investments |
10867 785 |
10442 940 |
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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) |
209983 128 |
172522 855 |
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3 |
Due from subsidiaries/ holding |
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3 |
Deposit U/S-7 of Insurance Act |
0 |
0 |
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4 |
Sundry Debtors |
2100 431 |
1331 407 |
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5 |
Sundry Deposits |
13440 219 |
10192 841 |
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10 |
LPA Assets |
0 |
0 |
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6 |
MAT Credit Entitlement |
14438 189 |
18864 155 |
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7 |
Service Tax Unutilised Credit |
0 |
0 |
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8 |
GST Asset |
2129 606 |
1233 929 |
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9 |
VAT Asset Dubai |
0 |
0 |
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TOTAL (B) |
252959 358 |
214588 127 |
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TOTAL (A+B) |
353815 528 |
282461 611 |
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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. |
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(b) The term ‘officer’ should conform to the definition of that term as given under the Companies Act, 2013. |
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(c) Sundry Debtors will be shown under item 9(others) |
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