FORM NL-16-ADVANCES AND OTHER ASSETS SCHEDULE

Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA   

ADVANCES AND OTHER ASSETS

( ₹ in 000)

Particulars

30.06.2021

30.06.2020

ADVANCES

1

Reserve deposits with ceding companies

82980 721

76179 670

2

Application money for investments

 0

 0

3

Prepayments

334 267

179 264

4

Advances to  Directors/Officers

2 170

4 246

5

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

8855 636

8011 602

6

Others

220 752

429 129

7

Deferred Commission

 0

 0

TOTAL (A)

92393 546

84803 911

OTHER ASSETS

1

Income accrued on investments

12280 047

10521 319

2

Outstanding Premiums

3

Agents’ Balances

4

Foreign Agencies Balances

5

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

146362 054

245684 190

6

Due from subsidiaries/ holding

7

Deposit U/S-7 of Insurance Act

 0

 0

8

Sundry Debtors

207 444

257 285

9

Sundry Deposits

19174 270

13744 097

10

LPA Assets

 0

 0

11

MAT Credit

7801 482

14405 245

12

Service Tax Unutilised Credit

 0

 0

13

GST Asset

328 113

871 606

14

VAT Asset Dubai

 0

 0

15

Pension Asset

94 976

16

Gratuity Asset

20 580

 0

TOTAL (B)

186268 966

285483 742

TOTAL (A+B)

278662 512

370287 653

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)