FORM NL-3-B-BS
Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA
Registration No.  112
Date of  Registration with the IRDA : 2nd April, 2001
BALANCE SHEET  AS AT 31 December 2015
PARTICULARS SCHEDULE As at 31.12.2015 ( ` IN 000)
As at 31.12.2014
SOURCES OF FUNDS
SHARE CAPITAL NL-8-Share Capital Schedule 4300000 4300000
SHARE APPLICATION MONEY PENDING ALLOTMENT
RESERVES AND SURPLUS NL-10-Reserves and Surplus Schedule 151342241 134481133
Deferred Tax Liability 0 0
FAIR VALUE CHANGE ACCOUNT 251723697 280755886
BORROWINGS NL-11-Borrowings Schedule
TOTAL 407365938 419537019
APPLICATION OF FUNDS
INVESTMENTS NL-12-Investment Schedule 558917218 555078910
LOANS NL-13-Loans Schedule 3659393 3973201
FIXED ASSETS NL-14-Fixed Assets Schedule 1329170 1390143
DEFERRED TAX ASSET 174683 64650
CURRENT ASSETS
Cash and Bank Balances NL-15-Cash and bank balance Schedule 84005379 71089987
Advances and Other Assets NL-16-Advancxes and Other Assets Schedule 147418584 133064274
Sub-Total (A) 231423963 204154261
CURRENT LIABILITIES NL-17-Current Liabilities Schedule 301583129 263298631
PROVISIONS NL-18-Provisions Schedule 86555360 81825515
DEFERRED TAX LIABILITY
Sub-Total (B) 388138489 345124146
NET CURRENT ASSETS (C) = (A - B) -156714526 -140969885
MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) NL-19-Miscellaneous Expenditure Schedule
DEBIT BALANCE IN PROFIT AND LOSS ACCOUNT
TOTAL 407365938 419537019
CONTINGENT LIABILITIES
Particulars As at 31.12.2015 As at 31.12.2014
(Rs.’000) (Rs.’000)
1 Partly paid-up investments
2 Claims, other than against policies, not acknowledged as debts by the company 11000 0
3 Underwriting commitments outstanding (in respect of shares and securities)
4 Guarantees given by or on behalf of the Company 8352709 6595916
5 Statutory demands/ liabilities in dispute, not provided for 22496974 19519294
6 Reinsurance obligations to the extent not provided for in accounts
7 Others (to be specified)
TOTAL 30860683 26115210