FORM NL-16-ADVANCES AND OTHER ASSETS SCHEDULE

Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA   

ADVANCES AND OTHER ASSETS

(` '000)

Particulars

30.09.2020

30.09.2019

ADVANCES

1

Reserve deposits with ceding companies

80316 503

85808 868

2

Application money for investments

 0

670 235

3

Prepayments

200 271

88 228

4

Advances to  Directors/Officers

2 725

8 045

5

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

8414 315

6005 963

6

Others

219 081

812 112

7

Deferred Commission

 0

 0

TOTAL (A)

89152 895

93393 451

OTHER ASSETS

1

Income accrued on investments

10537 387

11186 093

2

Outstanding Premiums

3

Agents’ Balances

4

Foreign Agencies Balances

5

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

190406 663

218500 062

6

Due from subsidiaries/ holding

7

Deposit U/S-7 of Insurance Act

 0

 0

8

Sundry Debtors

180 144

291 578

9

Sundry Deposits

12580 323

11639 015

10

LPA Assets

 0

 0

11

MAT Credit

14405 245

14438 189

12

Service Tax Unutilised Credit

 0

 0

13

GST Asset

601 489

1470 569

14

VAT Asset Dubai

 0

 0

15

Pension Asset

111 349

 0

16

Gratuity Asset

17 125

 0

TOTAL (B)

228839 725

257525 506

TOTAL (A+B)

317992 620

350918 957

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)