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 31.03.2015				( ' IN 000)
	PARTICULARS	SCHEDULE	For the year ended 31.03.2015	For the year ended 31.03.2014
1	OPERATING PROFIT/(LOSS)
	(a)  Fire Insurance		13580 424	239 165
	(b)  Marine Insurance		-857 491	5102 498
	(c )  Miscellaneous Insurance		3189 103	11403 423
	(d)  Life Insurance		395 131	70 868
2	INCOME FROM INVESTMENTS
	(a)  Interest, Dividend & Rent – Gross		7036 980	6260 620
	(b)  Profit on sale of investments		5249 329	2868 141
	Less: Loss on sale of investments
3	OTHER INCOME (To be specified)
	Profit on Exchange		0	935 657
	Profit on sale of Assets (Net)		167	0
	Sundry Balances Written Back (Net)		0	0
	Interest on Income-tax Refund		2327 674	54 695
	Motor Pool Service Charges		0	32 360
	Miscellaneous Receipts		9 208	3 167
	TOTAL (A)		30930 525	26970 594
4	Provision for Doubtful Loans & Investment		32 008	484 081
5	Provision for Doubtful  Debts		1075 122	764 767
6	Amortisation of premium on Investments		181 025	200 694
7	Diminution in the value of investments written off		588 077	1111 486
8	OTHER EXPENSES
	Expenses relating to Investments		9 329	6 574
	Loss on Exchange		275 131	0
	Loss on sale of Assets (Net)		0	232
	Sundry Balances Written off (Net)		0	0
	Loss on Distribution of LPA Assets		0	0
	Interest on Service Tax		318 005	1368 396
	Corporate Social Responsibility		179 481	0
	TOTAL (B)		2658 178	3936 230
	Profit Before Tax		28272 347	23034 364
	Provision for Taxation :
	Current Tax		5070 000	4130 000
	Wealth Tax		11 359	4 183
	Mat Tax		-3653 300	-3634 844
	Deferred Tax		-107 630	3 280
	Fringe Benefit Tax		0	0
	Provision for Tax in respect of earlier years		14 713	0
	Profit after Tax		26937 205	22531 745
	Balance brought forward from last year		896	-9060 889
	Profit available for appropriation		26938 101	13470 856
	APPROPRIATIONS
	(a)                 Interim dividends paid during the year		0	1182 500
	(b)                 Proposed final dividend		5400 000	3311 000
	(c)                 Dividend distribution tax		1099 332	763 670
	(d)                 Transfer to General Reserve		20438 000	8212 790
	(e)          Balance carried forward to Balance Sheet		769	896
			26938 101	13470 856
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.