FORM NL-2-B-PL
Name of the Insurer:..GENERAL INSURANCE CORPORATION OF INDIA
Registration No...112
Date of..Registration with the IRDA : 2nd April, 2001
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30.06.2012 . . . ( Rs IN 000)
. PARTICULARS SCHEDULE FOR THE QUARTER THREE MONTH ENDING 30.06.2012 FOR THE QUARTER OF THE PRECEDING YEAR THREE MONTH ENDING 30.06.2011
1 OPERATING PROFIT/(LOSS) . . . . .
. (a). Fire Insurance . . 316 842 . -197 473
. (b)..Marine Insurance . . -44 429 . 315 199
. (c )..Miscellaneous Insurance . . 31 738 . 2474 112
. (d)  Life Insurance . . -69 054 . 86 033
2 INCOME FROM INVESTMENTS . . . . .
. (a)  Interest, Dividend & Rent – Gross . . 1012 356 . 1452 997
. (b)  Profit on sale of investments . . 94 405 . 354 271
. ......Less: Loss on sale of investments . . . . .
3 OTHER INCOME (To be specified) . . . . .
. Profit on Exchange . . 2100 662 . 359 046
. Profit on sale of Assets (Net) . .  13 .  0
. Sundry Balances Written Back (Net) . .  0 .  0
. Interest on Income-tax Refund . .  0 . 34 966
. Motor Pool Service Charges . . 27 227 . 104 550
. Miscellaneous Receipts . . 6 975 . 2 043
. TOTAL (A) .  0 3476 735  0 4985 744
4 Provision for Doubtful Loans, Investment & Debts . . -29 363 . 20 057
5. Amortisation of premium on Investments . . 45 987 . 53 254
6. Diminution in the value of investments written off . .  0 . 6 452
7. OTHER EXPENSES . . . . .
. Expenses relating to Investments . . 1 841 . 4 116
. Loss on Exchange . .  0 .  0
. Loss on sale of Assets (Net) . .  0 .  0
. Sundry Balances Written off (Net) . .  0 .  0
. Loss on Distribution of LPA Assets . .  0 .  0
. Interest on Service Tax . .  0 .  0
. TOTAL (B) .  0 18 465  0 83 879
. Profit Before Tax................................. .  0 3458 270  0 4901 865
. Provision for Taxation : . . . . .
. Current Tax . . 555 900 . 1361 706
. Wealth Tax . .  0 .  0
. Mat Tax . . -555 900 .  0
. Deferred Tax . . 61 774 .  0
. Fringe Benefit Tax . .  0 .  0
. Provision for Tax in respect of earlier years . .  0 .  0
. Profit after Tax .  0 3396 496  0 3540 159
. Balance brought forward from last year . . -24678 928 .  599
. Profit available for appropriation .  0 -21282 432  0 3540 758
. APPROPRIATIONS . . . . .
. (a).................Interim dividends paid during the year . . . . .
. (b).................Proposed final dividend . .  0 .  0
. (c).................Dividend distribution tax . .  0 .  0
. (d).................Transfer to General Reserve . .  0 .  0
. (e)          Balance carried forward to Balance Sheet . . -21282 432 . 3540 758
. . .  0 -21282 432  0 3540 758
Notes:..to Form NL-1-B-RA and NL-2-B- PL . . . . .
(a)..................Premium income received from business concluded in and outside India shall be separately disclosed. . . .
(b).................Reinsurance premiums whether on business ceded or accepted are to be brought into account gross (i.e. before deducting commissions) under the head reinsurance premiums.
(c).................Claims incurred shall comprise claims paid, specific claims settlement costs wherever applicable and change in the outstanding provision for claims at the year-end,. .
(d).................Items of expenses and income in excess of one percent of the total premiums (less reinsurance) or Rs.5,00,000 whichever is higher, shall be shown as a separate line item. .
(e).................Fees and expenses connected with claims shall be included in claims. . . . .
(f)..................Under the sub-head "Others” shall be included items like foreign exchange gains or losses and other..items. . . .
(g).................Interest, dividends and rentals receivable in connection with an investment should be stated as gross amount, the amount of income tax deducted at source being included under 'advance taxes paid and taxes deducted at source”..
(h).................Income from rent shall include only the realised rent. It shall not include any notional rent. . . . .