FORM NL-16-ADVANCES AND OTHER ASSETS SCHEDULE

Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA   

ADVANCES AND OTHER ASSETS

(Rs. in '000)

Particulars

As at 31.03.2020

As at 31.03.2019

ADVANCES

1

Reserve deposits with ceding companies

84732 845

70729 161

2

Application money for investments

 0

 0

3

Prepayments

125 349

121 208

4

Advances to  Directors/Officers

4 682

5 913

5

Advance tax paid and taxes deducted at source (Net of provision for taxation)

7490 057

3200 795

6

Others

522 173

55 578

7

Deferred Commission

 0

 0

TOTAL (A)

92875 106

74112 655

OTHER ASSETS

1

Income accrued on investments

10582 641

10425 282

2

Outstanding Premiums

3

Agents’ Balances

4

Foreign Agencies Balances

2

Due from other entities carrying on insurance business  (including reinsurers)

181202 630

145614 253

3

Due from subsidiaries/ holding

3

Deposit U/S-7 of Insurance Act

 0

 0

4

Sundry Debtors

47 000

2449 072

5

Sundry Deposits

13782 633

10745 234

6

LPA Assets

 0

 0

7

MAT Credit Entitlement

14405 245

14438 189

8

Service Tax Unutilised Credit

 0

 0

9

GST Asset

907 360

1842 935

10

VAT Asset Dubai

 0

27 887

TOTAL (B)

220927 509

185542 852

TOTAL (A+B)

313802 615

259655 507

Notes:

(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)