the oriental insurance company ltd.

okf"kZd izfrosnu Annual Report 2014-15

The OrienTal insurance cOmpany lTd.

1

Directors and Management ..........................................................2Board of Directors .............................................................................3Notice ....................................................................................................4Top Management Team ..................................................................5Team of Deputy General Managers ............................................6Team of Regional Incharges ..........................................................7Chairman’s Statement ....................................................................10Report of the Board of Directors ................................................14Write-ups of the Top Management Team ...............................64Auditor’s Report ............................................................................138Comments of the Comptroller & Auditors Generalof India ..............................................................................144Fire Insurance Revenue Account ............................................146Marine Insurance Revenue Account ......................................148Miscellaneous Insurance Revenue Account .......................150Profit & Loss Account ..................................................................152Balance Sheet ................................................................................156Schedules ........................................................................................158Accounting Policies and Notes ................................................206Non Life Analytical Ratios ..........................................................250Management Report on Financial Statement....................267Cash Flow Statements ................................................................275Balance Sheet Abstract ..............................................................277

Consolidated FinanCial

Comments of the Comptroller & Auditors

General of India .............................................................................280

Profit & Loss Account ..................................................................282

Balance Sheet ................................................................................285

Accounting Policies and Notes ................................................287

Cash Flow Statements ................................................................336

Balance Sheet Abstract ..............................................................339

sUBsidiaRY CoMPanY

Report of the Directors ...............................................................342

Auditor’s Report ............................................................................359

Comments of the Comptroller & Auditor

General of India .............................................................................363

Balance Sheet ................................................................................365

Profit & Loss Account ..................................................................367

Accounting Policies and Notes ................................................369

Cash Flow Statement ..................................................................378

Balance Sheet Abstract ..............................................................380

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ChaiRMan-CUM Managing diReCtoRDr. A.K. Saxena

diReCtoRsJatinderbir Singh

Dr. N. Srinivasa RaoKaushalya Roy

Vijay GargAmardeep Singh Bali

Kuldip Singh Sujay Banarji

geneRal ManageRsNiraj KumarKuldip Singh

K. K. RaoP. K. Bhagat

Sujay BanarjiP. Senthilkumar

B. N. PrasadA. K. Mittal

K. Ramadevi

FinanCial advisoR & CFoK. Ramadevi

geneRal ManageR & CvoRakesh Kumar

aPPointed aCtUaRYNikhil Gupta

dePUtY geneRal ManageRsVed Prakash

A SinhaChakradhar SinghN. ShashidharanP. Ayyapan Nair

Atul JerathThomas T Oommen

Neelu DuggalAtul Sahai

Akhilesh MishraAjit Kumar

Anil SrivastavaAjay Gupta

CoMPanY seCRetaRYRashmi Bajpai

aUditoRM/S. S. Mann & Co.

M/S. K.P.M.R. & Associates

RegisteRed oFFiCe : ‘Oriental House’ A-25/27, Asaf Ali Road, New Delhi - 110 002

CIN No. : U66010DL1947GO1007158www.orientalinsurance.org.in

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&110 002CIN No. : U66010DL1947GO1007158www.orientalinsurance.org.in



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dr. a. K. saxenaChairman-cum Managing Director

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Jatinderbir singhDirector

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vijay gargDirector

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n. srinivasa RaoDirector

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amardeep singh BaliDirector

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Kaushalya RoyDirector

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Kuldip singhDirector

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sujay BanarjiDirector

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notiCeNotice is hereby given that 67th Annual General Meeting of The Oriental Insurance Company Limited will be held at the Registered Office of the Company, at ‘Oriental House’, A-25/27, Asaf Ali Road, New Delhi-110 002 on Wednesday, the 19th august, 2015 at 02.00 p.m. to transact the following business:

oRdinaRY BUsiness:1. To receive, consider and adopt the Directors’ Report, the Audited Annual

Accounts for the year ended 31.3.2015 and Auditors’ Report thereon.2. To declare a Dividend.3. To authorise the Board of Directors to fix the remuneration of Auditors, to

be appointed by the CAG, forthe year 2015-16.

(By order of the Board)(Rashmi Bajpai)

Company SecretaryACS 20332

Date : 13th August, 2015Place : New Delhi

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5

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dr. a.K. saxenaChairman-cum Managing Director

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sujay BanarjiGeneral Manager

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niraj KumarGeneral Manager

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Kuldip singhGeneral Manager

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P. senthilkumarGeneral Manager

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P. K. Bhagat General Manager

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B.n. PrasadGeneral Manager

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K.K. RaoGeneral Manager

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K. RamadeviGeneral Manager,

FA & CFO

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Rakesh KumarGeneral Manager &

CVO

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nikhil guptaAppointed Actuary

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a.K. MittalGeneral Manager

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Dr. MS KumarDGM RO - Indore

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Balwant SinghDGM RO - Ahmedabad

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OP SinghCRM RO - Vadodara

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Mahadev MallaCRM RO - Nagpur

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RK ShrivastavaDGM RO - Raipur

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JL AhujaCRM RO - Lucknow

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G GroverDGM NRO - 1

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Ish Kumar MunjalCRM RO - Chandigarh


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MP VermaCRM RO - Jaipur

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PC HotaCRM RO - Bangalore

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Rajiv JaiswalCRM RO - Patna

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RP BlahCRM RO - Bhubaneshwar

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RS MadanCRM RO - Ambala

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Pankaj KhannaCRM RO - Dehradun

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Surinder KohliCRM NRO - 2

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AK GorlosaCRM RO - Guwahati

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CR VijayanDGM RO - Cochin

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J.S. KohliDGM RO-Chennai



9

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OP PandeyDGM OSTC - Chennai

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C Latha PoorniCRM CBRO - Chennai

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N SundararamanCRM CBRO - Mumbai

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Rakesh KumarPrincipal OSTC - Faridabad

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PS MurthyCRM RO - Hubli

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K JothinathanCRM RO - Coimbatore

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MD NilkaniCRM RO - Visakhapatnam

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MK MittalCRM CBRO - Delhi


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dR. a. K. saXenaCHAIRMAN-CUM-MANAGING DIRECTOR

Dear Shareholders

I welcome you all to the 67th Annual General Meeting of your Company.

According to estimate released by CSO on 29th May, 2015, in the Financial Year 2014-15, GDP growth at market prices increased from 6.9% to 7.3%. This increase happened despite a decline in agriculture growth from 3.7% in Financial Year 2013-14 to 0.2 % in Financial Year 2014-15. The manufacturing growth increased substantially from 5.3% in Financial Year 2013-14 to 7.1 % in Financial Year 2014-15 while Services growth increased substantially to 10.2% in Financial Year 2014-15 from 9.1% in Financial Year 2013-14. Within services, financial, real estate, and professional services increased from 7.9% in FY 2013-14 to 11.5% in FY 2014-15.

The financial results of 2014-15 reflect that your Company has registered positive growth rate of 3.84 % on gross basis and underwritten global premium of Rs.7561.93 crores as against Rs. 7282.54 crores in the year 2013-14. Our net premium was Rs.

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11

6472.39 crores in the year 2014-15 in comparison to Rs. 6381.47 crores in the year 2013-14, registering growth of 1.42 %.

The current year operating profit, after taking into account the policyholder’s income, amounted to Rs 91.84 crores as compared to Rs. 204.16 crores in 2013-14.

This year we recorded a profit before tax of Rs. 617.34 crores as compared to Rs. 660.73 crores in the last year. We ended up with a profit after tax of Rs. 392.10 crores as compared to Rs. 460.29 crores in the year 2013-14.

The management expenses during the year amounted to Rs. 2347.98 crores as compared to Rs. 1775.44 crores in the year 2013-14.

Profit on sale of investments were Rs. 923.20 crores in the year 2014-15 as compared to Rs. 900.91 crores

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in 2013-14 whereas income from Interest, Dividend & Rent was recorded as Rs. 1177.33 crores during the current year in comparison to previous year’s figure of Rs 1048.30 crores.

Our foreign operations of Nepal, Dubai and Kuwait registered gross premium of Rs. 153.97 crores this year and the net result by three foreign offices was a surplus of Rs. 1.29 crores in 2014-15 as compared surplus of Rs. 8.03 crores in 2013-14.

The Solvency margin as on 31.3.2015 stood at 1.68. This year the Board has recommended dividend payout of Rs. 110.00 crores to Government of India.

World renowned rating agency, A M BEST has also maintained our rating at “B++” (very good). We continue being consistently given the highest rating by CRISIL and ICRA also.

The Company will be launching its new and upgraded Web-portal duly integrated with the core insurance application targeting insurance needs mainly for retail policy holders, potential clients, insurance intermediaries such as agents, brokers, surveyors, motor dealers, third party administrators, legal counsels, etc. and facilitate online issuance of selected products of personal lines and renewal of all the products of OICL besides lodging claims, register complaints and monitor progress of claim settlements and grievances lodged. The number of policies purchased ‘online’ continued to increase contributing to overall premium underwritten by the Company. A new IT Project, ‘Enterprise Content Management’ has been undertaken for archiving, and maintaining the documents in electronic form as also their easy retrieval for supporting the business operations which will be an enterprise wide deployment duly integrated with our core application and the Web Portal.

In the year ahead, keeping in view the competition in pricing we would continue to take steps for

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13

cautious underwriting as well as effective claims management so as to control the claims ratios and combined ratios. Our focus will be on increasing the growth & profitability of the Company.

To fulfill our social obligation of reaching out to the rural masses we have ensured maximum participation in Financial Inclusion initiatives of Government of India by opening Business Centers catering to retail business in tier II, III & IV towns. This will help us in getting profitable retail / rural business with minimum cost.

The well organized, trained and committed workforce of our Company has accepted all challenges in the emerging competitive scenario thus taking the Company further in its memorable journey of more than six decades and advancing further from strength to strength.

We are thankful to our customers who steadfastedly support us and have continuous faith in us amidst severe competition. We are also thankful to our intermediaries for their continued support in improving our business and service standards. We are also indebted to IRDAI, Ministry of Finance, our Directors, Ex-officio Member, Audit Board – II for their support, guidance and encouragement in all areas. The Annual Report for the FY 2014-15 is placed for your consideration.

mn~ns'; ls lrØ fuEukadu ds lkFk izHkkoh nkok izca/ku ds fy, mik; djrs jgsaxsA gekjk Qksdl dEiuh ds fodkl vkSj ykHkiznrk esa o`f) djus ij jgsxkA

xzkeh.k tu rd igqWap cukus ds vius lkekftd nkf;Ro dks iwjk djus ds fy,] geus Js.kh II, III vkSj IV dLcksa esa jhVsy dkjksckj dh t:jr iwjh djus ds fy, dkjksckj dsanz [kksydj Hkkjr ljdkj dh lekos'kh igy esa vf/kdre Hkkxhnkjh lqfuf'pr dh gSA blls gesa U;wure ykxr ij ykHkizn [email protected] dkjksckj gkfly djus esa enn feysxhA

gekjh dEiuh ds lqlaxfBr] izf'kf{kr vkSj izfrc) dk;Zcy us mHkjrs izfrLi/khZ ifjn`'; esa lHkh pqukSfr;ka Lohdj dh gSa vkSj bl izdkj dEiuh dks Ng n'kd ls vf/kd ds blds ;knxkj lQj esa vkSj vkxs ys tkus vkSj 'kfDr mRjksrj izxfr djrs gq, vkxs c<+us esa lgk;rk iznku dh gSA

gesa vius xzkgdksa ds vkHkkjh gSa tks gesa n`<+rkiwoZd leFkZu nsrs gSa vkSj ftudk gesa dM+h izfrLi/kkZ esa fujarj fo'okl gkfly gSA ge vius dkjksckj vkSj lsok ekunaMksa esa lq/kkj ds fy, fujarj leFkZu ds fy, vius e/;ofrZ;ksa ds Hkh vkHkkjh gSaA ge lHkh {ks=ksa esa leFkZu] ekxZn'kZu vkSj izksRlkgu ds fy, vkbZvkjMh,vkbZ] foRr ea=ky;] vius funs'kdksa] insu lnL;] ys[kk ijh{kk cksMZ & II ds Hkh _.kh gSA foRr o"kZ 2014&15 dh okf"kZd fjiksVZ vkids fopkjkFkZ j[kh tkrh gSA


RePoRt oF the BoaRd oF diReCtoRs oF the oRiental insURanCe CoMPanY liMited UndeR seCtion 134 oF the CoMPanies aCt 2013To,

The Members,

Your Directors have pleasure in presenting their Sixty Seventh Annual Report on the business of the Company and the accounts for the Financial Year ended March 31, 2015.

1. Financial Performance of the Company Figures in brackets are percentage to net

premium

dEiuh vf/kfu;e 2013 dh /kkjk 134 ds varxZrn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMds funs'kd eaMy dh fjiksVZ lsok esa]

lnL;x.k]

vkids funs'kdksa dks dEiuh ds dkjksckj ij ij viuh lrklBoha okf"kZd fjiksVZ vkSj 31 ekpZ] 2015 dks lekIr foRr o"kZ ds fy, ys[kkvksa dks izLrqr djus esa g"kZ gks jgk gSA

1- dEiuh dk foRrh; fu"iknu dks"Bdksa esa fn, x, vkadM+s fuoy izhfe;e dk izfr'kr

gSa

(Rs. in lacs)

vfXuFire

ejhuMarine

fofo/kMiscellaneous

dqytotal

2014-15 2013-14 2014-15 2013-14 2014-15 2013-14 2014-15 2013-14

ldy izR;{k izhfe;e% Hkkjr esaGross Direct Premium: In India

96162 98447 39793 45856 604841 568481 740796 712784

Hkkjr ls ckgjOutside India

5116 5531 2354 2434 7927 7505 15397 15470

ldy izR;{k izhfe;e dqyGross Direct Premium Total

101278 103978 42147 48290 612768 575986 756193 728254

fuoy izhfe;eNet Premium

50678 67326 29288 31102 567273 539719 647239 638147

fuoy ls ldy vuqikrRatio of Net to Gross

50.63 % 64.75% 69.49% 64.41% 92.57% 93.70% 85.59% 87.63%

fuos'kksa dh fcØh ij ykHk ¼'ks;j/kkjd½Profit on Sale of Investments (Policy Holders")

7924(15.64%)

8023(11.92%)

2985(10.19%)

3194(10.27%)

61027(10.76%)

59184(10.97%)

71936(11.11%)

70401 (11.03%)



15

C;kt@ykHkka'k@fdjk;k ¼ikWfylh/kkjd½Int./Div./ Rent (Policy Holders")

10105(19.94%)

9335(13.87%)

3807(13.00%)

3717(11.95%)

77826(13.72%)

68867(12.76%)

91738(14.17%)

81919(12.84%)

deh'kuvkSj vU;vk; ¼fuoyvk;(+)/

fuoy ifjO;; (-))Commission and other income (Net Income(+)/ Net Outgo (-))

-2383(-4.70%)

-2157(-3.20%)

-2746(-9.37%)

-2963(-9.53%)

-29503(-5.20%)

-31050(-5.76%)

-34632(-5.35%)

-36170(-5.67%)

,uih, ¼izko/kku(-)/ izfrys[ku(+))NPA (Provision (-)/ Write back(+))

32(0.04%)

-10(-0.01%)

12(0.04%)

-4(-0.01%)

245(0.04%)

-75(-0.01%)

289(0.04%)

-89(-0.01%)

'ks;jksa ds ewY; esa g`kl (-)@ izfrys[ku(+)Diminution in value of shares (-)/ written back (+)

20(0.04%)

-59(-0.09%)

8(0.02%)

-23(-0.07%)

153(0.02%)

-433(-0.08%)

181(0.03%)

-515(-0.08%)

vlekIr tksf[ke vkjf{kfr esa o`f) (-)/ deh(+)Increase (-)/ Decrease (+) in unexpired risks reserve

8324(16.42%)

-1282(-1.90%)

730(2.49%)

-2552(-8.20%)

-13777(-2.43%)

-38916(-7.21%)

-4723(-0.73%)

-42750(-6.70%)

fd, x, fuoy nkosNet Incurred claims

-42505(-83.87%)

-55525(-82.47%)

-12129(-41.41%)

-16660(-53.57%)

-471516(-83.12%)

-438917(-81.32%)

-526150(-81.29%)

-511102(-80.09%)

izca/ku ds [kpsZExpenses of Management

-34469(-68.02%)

-27522(-40.88%)

-10163(-34.70%)

-8821(-28.36%)

-190166(-33.52%)

-141201(-26.16%)

-234798(-36.27%)

-177544(-27.82%)

ifj'kks/ku O;;Amortization expenses

-97(-0.19%)

-96(-0.14%)

-37(-0.13%)

-38(-0.12%)

-751(-0.13%)

709(-0.13%)

-885(-0.13%)

-843(-0.13%)

cV~Vs [kkrs Mkyk x;k O;;Investment Written off

-111(-0.22%)

-118(-0.19%)

-42(-0.14%)

-47(-0.15%)

-858(-0.15%)

-873(-0.16%)

-1011(-0.16%)

-1038(-0.16%)


fuoy izpkyfud ykHk@¼gkfu½Net Operating Profit /(Loss)

-2482(-4.90%)

-2085(-3.09%)

11713(39.99%)

6905(22.21%)

-47(-0.01%)

15596(2.90%)

9184(1.42%)

20416(3.21%)

C;kt] ykHkka'k vkSj fdjk;k ¼'ks;j /kkjd½Interest, Dividends & Rent (Shareholders")

25995 22911

fuos'kksa dh fcØh ij ykHk ¼'ks;j/kkjd½Profit on sale of Investments (Shareholders")

20384 19690

vU; vk;@ifjO;;Other Income/ Outgo

6963 3056

lh,lvkj O;;CSR Expenditure

-792 00

dj iwoZ ykHk (+) / gkfu (-)Profit (+) / Loss (-) before Tax

61734 66073

iwokZof/k vk;@O;;Prior period Income / Expenses

301 -692

lzksr ij dkVk x;k vk;dj vkSj dj gsrq izko/kkuIT deducted at source and Provision for Tax

-22820 -19980

iwoZorhZ o"kksZa ds fy, izko/kkuProvision for Tax for earlier years

-5 628

djksijkar fuoy ykHk@gkfuNet Profit/ Loss after Tax

39210 46029

lkekU; vkjf{kfr@vkdfLe vkjf{kfr esa varj.kTransfer to General Reserve / Contingency Reserve

26010 33393

ykHkka'k ds fy, izko/kkuProvision for Dividend

11000 10800

fuxfer ykHkka'k djCorporate Dividend Tax

2200 1836

mijksfYyf[kr izfr'kr fuoy izhfe;e ij lkis{kPercentages mentioned above are to Net Premium.

(Rs. in lacs)

ldy izhfe;egross Premium

fuoy izhfe;enet Premium

fd;k x;k nkok vuqikrincurred Claim Ratio

2014-15 2013-14 growth %

2014-15 2013-14 growth %

2014-15 %

2013-14 %

2014-15 %

2013-14 %

foHkkx ldygRoss

fuoynet

vfXuFire

1012.78 1039.78 -2.60 506.78 673.26 -24.73 95.81 94.10 83.87 82.47

ejhu dkxksZMarine Cargo

247.58 272.57 -9.17 214.92 236.58 -9.16 58.16 45.11 40.53 48.66



17

ejhu gyMarine Hull

173.89 210.33 -17.32 77.96 74.43 4.74 63.55 35.16 43.84 69.16

ejhu dqyMarine Total

421.47 482.90 -12.72 292.88 311.02 -5.83 60.38 40.77 41.41 53.57

eksVj vksMhMotor OD

1261.34 1198.20 5.27 1192.35 1136.61 4.90 49.86 49.42 50.29 46.05

eksVj Vhih&ukWu iwyMotor TP-Non Pool

1605.72 1383.63 16.05 1524.96 1313.32 16.12 102.29 98.89 87.97 79.79

eksVj Vhih&Mhvkj iwyMotor TP D.R. Pool

47.39 106.28 -55.41 38.71 58.92 -34.29 96.51 358.19 109.44 434.65

eksVj dqyMotor Total

2914.45 2688.11 8.42 2756.03 2508.85 9.85 81.39 83.42 73.97 73.91

bathfu;fjaxEngineering

355.98 374.78 -5.02 247.14 299.32 -17.43 63.21 52.18 42.94 75.98

dkexkj dkaiWorkman Comp.

80.25 81.65 -1.72 75.73 77.46 -2.23 18.32 20.16 18.12 21.55

foekuuAviation

100.94 111.61 -9.56 26.14 27.42 -4.66 33.01 49.53 127.71 139.58

O;fDrxr chekPers. Accident

149.37 142.41 4.89 132.24 128.37 3.02 60.29 78.38 57.66 76.07

LokLF;Health

2053.85 1898.75 8.17 1951.47 1796.12 8.65 116.38 106.63 116.27 104.56

nsunkjhLiability

50.89 45.14 12.74 42.49 27.58 54.04 8.53 11.25 16.10 2.95

vU; fofo/kOther Misc.

421.95 417.41 1.09 441.48 532.06 -17.02 30.71 38.32 38.83 51.89

dqy fofo/kTotal Misc.

6127.68 5759.86 6.39 5672.73 5397.19 5.11 85.83 83.53 83.12 81.32

dqyTotal

7561.93 7282.54 3.84 6472.39 6381.47 1.42 85.75 82.20 81.29 80.09


2. Company"s working during the year growth of Business:

The Gross Premium Income increased to Rs. 7561.93 crores during 2014-15 as compared to Rs. 7282.54 crores during 2013-14 thereby recording a positive growth of 3.84 %. The Company also achieved growth of 1.42 % on Net premium. Motor, Personnel Accident, Health, Liability & Other Misc segments depicted growth of 8.42 %, 4.89 %, 8.17 %, 12.74 %, & 1.09 % respectively on gross basis whereas other business segments recorded negative growth rate on gross basis.

Reinsurance operationsThe net to gross ratio (retention percentage) decreased to 85.59 % as compared to 87.63 % during last fiscal year,

operating ResultsThe overall operating performance of the company has resulted in operating profit of Rs. 91.84 crores during the year under review as against Rs.204.16 crores during 2013-14. The net incurred claims ratio increased to 81.29 % in 2014-15 from 80.09 % during 2013-14.

Management expenses:Total Management Expenses for the current year were Rs. 2347.98 crores as against Rs. 1775.44 crores of previous year.

overall PerformanceThe profits generated by sale of investments increased by Rs. 22.29 crores and the management expenses increased by Rs. 572.54 crores This coupled with underwriting losses resulted in profit before tax of Rs 617.34 crores during the year under review compared to profit before tax of Rs. 660.73 crores during the previous year, after taking into account both operating profit and investment income. The profit after tax was Rs. 392.10 crores during the year under review as compared to Rs. 460.29 crores during the previous year.

solvency Margin: The solvency margin ratio stood at 1.68 as on 31.3.2015 thereby complying with the

2- o"kZ ds nkSjku dEiuh dk dkeektdkjksckj esa o`f)%o"kZ 2013&14 esa #-7282-54 djksM+ dh rqyuk esa #-7561-93 djksM+ ds ldy oSf'od izhfe;e vkSj ldy vk/kkj ij 3-84 % dh ldkjkRed o`f) nj ntZ dh gSA dEiuh us fuoy izhfe;e ij Hkh foRr o"kZ 2013&14 ds #- 6381-47 djksM+ dh rqyuk esa dh 1-42 % o`f) izkIr dhA eksVj] O;fDrxr nq?kZVuk] LokLF;] nsunkjh vkSj vU; fofo/k lsxesaVksa esa ldy vk/kkj ij Øe'k% 8-42%] 4-89 %] 8-17 %] 12-74 % vkSj 1-09 % dh o`f) ntZ dh tcfd dkjksckjh lsxesaVksa esa ldy vk/kkj ij udkjkRed o`f) nj ntZ dh xbZA

iqu% chek izpkyuldy vuqikr ¼izfr/kkj.k izfr'kr½ ds fuoy esa fiNys vFkZ o"kZ ds nkSjku 87-63 % dh rqyuk esa deh gksdj ;g 85-59 % gqvkA

izpkyfud ifj.kkedEiuh ds lexz izpkyu fu"iknu ds ifj.kkeLo:i foRr o"kZ 2013&14 ds nkSjku #-204-16 djksM+ dh rqyuk esa leh{kk/khu o"kZ ds nkSjku #-91-84 djksM+ dk izpkyfud ykHk gqvkA fuoy O;; vuqikr o"kZ 2013&14 ds nkSjku 80-09 % ls c<+dj o"kZ 2014&15 esa 81-29 % gks x;kA

izca/ku O;;%dqy izca/ku O;; fiNys o"kZ ds 1775-44 #- djksM+ dh rqyuk esa pkyw o"kZ esa #- 2347-98 djksM+ FksA

lexz fu"iknufuos'kksa dh fcØh ls mRlftZr ykHkksa esa #- 22-29 djksM+ dh o`f) gqbZ vkSj izca/ku O;; esa #- 572-54 djksM+ dh o`f) gqbZA

blds lkFk&lkFk gkehnkjh ?kkVksa ds ifj.kkeLo:id izpkyfud ykHk vkSj fuos'k vk; nksuksa dks /;ku esa j[krs gq, fiNys o"kZ ds nkSjku #- 660-73 djksM+ ds dj&iwoZ ykHk dh rqyuk esa leh{kk/khu o"kZ ds nkSjku #- 617-34 djksM+ dj&iwoZ ykHk gqvkA djksijkar ykHk fiNys o"kZ ds nkSjku #- 460-29 djksM+ dh rqyuk esa leh{kk/khu o"kZ ds nkSjku #- 392-10 djksM+ FkkA

_.k'kks/ku ekftZu%chek fofu;ked ,oa fodkl izkf/kdj.k vf/kfu;e] 1999]



19

provisions of Sec 64VA of Insurance Act, 1938 as amended by the Insurance Regulatory and Development Authority Act, 1999.

dividendThe Directors have recommended final dividend of 51.00% for the year 2014-15 which is Rs. 5.10 per share payable on 20 crore equity shares. A sum of Rs.110.00 crores has been provided to meet the payment of Dividend and a further provision of Rs. 22.00 crores has been made for Dividend Distribution Tax thereon.

ReservesThe amount of Rs. 260.10 crores out of net profit after tax as per the Profit and Loss Appropriation Account is transferred to General Reserve Account / Contingency Reserve Account in the Balance Sheet thereby increasing our net worth to Rs.3181.83 crores from Rs.2921.73 crores last year

Foreign operations The Company"s foreign operations in Nepal, Dubai, Kuwait and the Run-off account in London together yielded a Gross Direct Premium of Rs.153.97 crores during the year 2014-15 as against Rs 154.70 crores during the previous year. The Net Premium was at Rs 155.79 crores as against Rs.139.73 crores last year and the net Incurred Claims during this year in respect of foreign operations were Rs. 101.04 crores with a net Incurred Claims Ratio of 64.9 % (Rs. 110.57. crores at 79.10 %.for the last year). Our foreign operations had finally resulted in a net surplus of Rs. 1.29 crores as against Rs 8.03 .crores during the previous year. The Company has also received approval from IRDAI for opening office at Qatar and is in the process of complying with the formalities.

detailed Report of Company"s activitiesThe Senior Executives of the Company are presenting their detailed report for the financial year 2014-15 on critical areas of operation and their reports together with the report on Corporate Governance are attached as part of the report of the Directors.

}kjk ;Fkk la'kksf/kr chek vf/kfu;e] 1938 dh /kkjk 64VA dk vuqikyu djrs gq, fnukad 31-3-2015 dks _.k'kks/ku ekftZu 1-68 ij FkkA

ykHkka'kfuns'kdksa us o"kZ 2014&15 ds fy, 51-00 % ds vafre ykHkka'k dh flQkfj'k dh gS tks 20 djksM+ bfDoVh 'ks;jksa ij ns; #- 5-10 izfr 'ks;j gSA ykHkka'k dk Hkqxrku iwjk djus ds fy, #- 110-00 djksM+ dh jkf'k dk izko/kku fd;k x;k gS vkSj ml ij ykHka'k forj.k dj ds fy, #- 22-00 djksM+ dk izko/kku fd;k x;k gSA

vkjf{kfr;kaykHk gkfu fofu;kstu ys[ks ds vuqlkj djksijkar fuoy ykHk esa ls #- 260-10 djksM+ dh jkf'k cSysal 'khV esa lkekU; vkjf{kr ys[ks@vkdfLed vkjf{kr ys[ks esa varfjr dh xbZ gS ftlls gekjk fuoy ewY; fiNys o"kZ ds nkSjku #- 2921-73 djksM+ ls c<+dj #- 3181-83 djksM+ gks x;k gSA

fons'kh izpkyuusiky] nqcbZ] dqoSr vkSj yanu ds ju&vkWQ [kkrs esa dEiuh ds fons'kh izpkyuksa ij dqy feykdj fiNys o"kZ ds nkSjku #- 154-70 djksM+ dh rqyuk esa o"kZ 2014&15 ds nkSjku #- 153-97 djksM+ dk vtZu gqvkA fuoy izhfe;e fiNys o"kZ ds #- 139-73 djksM+ dh rqyuk esa #- 155-79 djksM+ Fkk vkSj 64-9 % ds fuoy O;; nkok vuqikr ds lkFk bl o"kZ ds nkSjku fuoy O;; nkos #- 101-04 djksM+ Fks ¼xr o"kZ 79-10 % ij #-110-57 djksM+½A gekjs fons'kh izpkyu vafre :i ls fiNys o"kZ ds nkSjku #- 8-03 djksM+ dh rqyuk esa #- 1-29 djksM+ ds fuoy vf/k'ks"k ds :i esa ifj.kr gq,A dEiuh dks drj esa dk;kZy; [kksyus ds fy, vkbZvkjMh,vkbZ ls Hkh vuqeksnu izkIr gqvk gS vkSj ;g vkSipkfjdrkvksa dk vuqikyu djus dh izfØ;k esa gSA

dEiuh dh xfrfof/k;ksa dh foLr`r fjiksVZ dEiuh ds ofj"B dk;Zdkjh vf/kdkjh vfr egRoiw.kZ {ks=ksa ij o"kZ 2014&15 ds fy, viuh foLr`r fjiksVZ izLrqr dj jgs gSa vkSj fuxfer 'kklu ij fjiksVZ ds lkFk&lkFk mudh fjiksVZ funs'kdksa dh fjiksVZ ds Hkkx ds :i esa layXu gSA

3- 2015-16 ds fy, ;kstuk,agekjh ;kstuk o"kZ 2015-16 esa yxHkx 15 % dh of) djus


3. Plans for 2015-16We plan to grow by around 15 % in the year 2015-16. The completion up to April 2015 was Rs. 817.32 crores (comparative amount of Rs. 742.74 crores upto April 2013) registering a growth rate of 10.04 %. The Company plans to open 100 more extension counters and micro offices in unrepresented areas for strengthening retail business & participating actively in Project Financial Inclusion of Government of India. We also plan to open dedicated offices for increasing the bancassurance business. The Company will also continue to take measures to adopt more prudent & effective underwriting especially in health segments. Health will be given a push by engaging with Brokers pragmatically without affecting the economics of premium rates of Group Health policies. New Health policies with no frills will be filed and marketed to provide cover to the persons just above poverty line. This will not only provide the Health cover to those who need the same the most but will also increase the growth of Health insurance. By active participation in Project Financial inclusion of Government of India and Fresh recruitment of agents for Sampoorna Vittiya Samaveshan (SVS) launched by new Govt., the business penetration in rural areas will be increased further. The Company also plans to roll out HRMS in current financial year

4. Change in the nature of business, if anyThere was no change in the nature of business carried on by the Company during the year under review.

5. Material changes and commitments, if any, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report

No changes as aforesaid have taken place.

6. Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company"s operations in future

None

dh gSA vizSy 2015 rd 10-04 % dh of) nj ntZ djrs gq, iw.kZrk #- 817-32 djksM+ Fkh ¼vizSy 2013 rd rqyukRed jkf'k #- 742-74 djksM+½A Hkkjr ljdkj ds ifj;kstuk foRriks"k.k lekos'k esa lfØ; lgHkkfxrk djus vkSj jhVsy dkjksckj dks lqn<+ cukus ds fy, dEiuh dh ;kstuk xSj&izfrfuf/kRo okys {ks=ksa esa 100 vU; foLrkj dkmaVj vkSj ekbØks vkWfQl [kkyus dh gSA gekjh cSad chek ¼cSadk';ksjsal½ dkjksckj esa of) djus ds fy, izfrc) dk;kZy; [kksyus dh Hkh ;kstuk gSA dEiuh] fo'ks"kdj LokLF; lsxesaV esa] vf/kd nwjn'khZ vkSj izHkkoh tksf[ke vadu viukus ds fy, Hkh mik; djrh jgsxhA lkewfgd LokLF; uhfr;ksa dh izhfe;e njksa dks izHkkfor fd, fcuk O;kogkfjd rkSj ij czksdjksa ds lkFk fofu;kstu }kjk LokLF; {ks= dks izksRlkgu fn;k tk,xkA xjhch js[kk ls tjk mij ds O;fDr;ksa dks chek doj eqgS;k djkus ds mn~ns'; ls fcuk vf/kd rke&>ke okyh ubZ LokLF; ikWfyfl;ka vkjaHk dh tk,axh vkSj budk foi.ku fd;k tk,xkA

blls u dsoy mu yksxksa dks LokLF; chek doj feysxk ftUga bldh lcls vf/kd t:jr gS cfYd LokLF; chek ds fodkl esa Hkh of) gksxhA Hkkjr ljdkj ds ifj;kstuk foRriks"k.k lekos'k esa lfØ; Hkkxhnkjh vkSj ubZ ljdkj }kjk vkjaHk fd, x, lEiw.kZ foRrh; lekos'ku (SVS) ds fy, ,tsaVksa dh HkrhZ }kjk] xzkeh.k {ks=ksa esa dkjksckjh fuos'k esa of) gksxhA dEiuh dh pkyw foRr o"kZ esa ,pvkj,e,l lkeus ykus dh Hkh ;kstuk gSA

4- dkjksckj dh izd`fr esa ifjorZu] ;fn dksbZ gks leh{kk/khu o"kZ ds nkSjku dEiuh }kjk dkjksckj dh izd`fr esa dksbZ ifjorZu ugha fd;k x;kA

5- ftl foRr o"kZ ls dEiuh dh foRrh; foojf.kdk,a lacaf/kr gSa] ml o"kZ dh lekfIr vkSj fjiksVZ dh rkjh[k ds chp dEiuh dh foRrh; fLFkfr dks izHkkfor djus okys Bksl ifjorZu ;k izfrc)rk,a] ;fn dksbZ gksa]

tSlk fd mij mYys[k fd;k x;k gS] dksbZ ifjorZu ugha gq, gSa

6- fofu;kedksa ;k U;k;ky;ksa ;k U;k;kf/kdj.kksa }kjk dEiuh ds ykHkdkjh dkjksckj okys laLFkku ds ntZ vkSj Hkfo"; esa dEiuh ds izpkyuksa dks izHkkfor djus okys mYys[kuh; vkSj egRoiw.kZ vkns'kksa dk C;kSjk

dksbZ ugha



21

7. Details of Subsidiary/Joint Ventures/Associate Companies

The Company has one wholly owned subsidiary as detailed below:

s. no. name of the subsidiary

total Paid up share Capital

% holding of the oriental insurance Company limited

1 The Industrial Credit Company Limited

Rs 5 Lakhs

100 %

The Company has two associate companies, detailed below:

s. no.

name of the Joint venture associate Company

total Paid up share Capital

% holding of the oriental insurance Company limited

1 Health Insurance TPA of India Limited

Rs. 20 Crores

23.75 %

2 India International Insurance Pte Ltd. Singapore

SGD 5 Crores

20 %

8. Performance and financial position of each of the subsidiaries, associates and joint venture companies included in the consolidated financial statement.

There is no business in the Subsidiary (ICC) and business has yet to start in the Associate Company viz. Health TPA of India Ltd. (HITPA). The other associate is a foreign Company and is exempt this year to be incorporated in CFS.

9. depositsNo deposits were accepted by the Company during the year under review.

10. statutory auditorsM. /s. KPMR & Associates, New Delhi and M/s. S. Mann & Company, New Delhi were appointed

7- vuq"kaxh@la;qDr m|e@lg;ksxh dEifu;ksa dk C;kSjk

dEiuh ds iw.kZ LokfeRo okyh ,d vuq"kaxh dEiuh gS] tslk fd uhps C;kSjk fn;k x;k gS%

Ø- la- vuq"kaxh dEiuh dk uke

dqy iznRr 'ks;j iwath

n vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh % /kkfjrk

1 n baMLVzh;y ØsfMV dEiuh fyfeVsM

#- 5 yk[k 100 %

dEiuh dh nks la;qDr m|e lg;ksxh dEifu;ka gSa] ftudk C;kSjk fuEukuqlkj gS%

Ø- la-

la;qDr m|e lg;ksxh dEiuh dk uke

dqy iznRr 'ks;j iwath

n vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh % /kkfjrk

1 gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsM

#- 20djksM+

23.75 %

2 bafM;k baVjus'kuy ba';ksjsal izk- fy- flaxkiqj

5 djksM+ flaxkiqj MkWyj

20 %

8- izR;sd vuq"kaxh] lg;ksxh vkSj la;qDr m|e dEiuh ds fu"iknu vkSj foRrh; fLFkfr dk C;kSjk lesfdr foRrh; foojf.kdk esa 'kkfey gSA vuq"kaxh (ICC) esa dksbZ dkjksckj ugha gS vkSj lg;ksxh dEiuh vFkkZr gSYFk Vhih, vkWQ bafM;k fy- (HITPA) esa vHkh dkjksckj vkjaHk fd;k tkuk gSA vU; lg;ksxh ,d fons'kh dEiuh gS vkSj bls bl o"kZ lh,Q,l esa 'kkfey fd, tkus ls NwV izkIr gSA

9- tek jkf'k;kadEiuh }kjk leh{kk/khu o"kZ ds nkSjku dksbZ tek jkf'k Lohd`r ugha dh xbZA

10- lkafof/kd ys[kk ijh{kdeSllZ dsih,evkj ,aM ,lksf'k,V~l] ubZ fnYyh vkSj eSllZ eku ,aM dEiuh] ubZ fnYyh dks dEiuh vf/kfu;e 2013 dh /kkjk 139 ds varxZr Hkkjr ds


as Central Statutory Auditors for the year 2014-15 by the Comptroller and Auditor General of India under Sec 139 of the Companies Act 2013 and also as auditors of Consolidated Financial Statements under section 139 read with section 129(4) of the Companies Act, 2013:

At all the Divisional Offices, auditors were appointed for the year 2014-15 by the Comptroller and Auditor General of India. We convey our thanks to all our auditors for their valuable cooperation and guidance.

11. auditors" Report

The comments by Auditors and our Replies thereto are as hereunder;

1. Balance due to/from persons or bodies carrying on Insurance business, Reserve Deposit with ceding companies, Agent balances, Sundry Debtors, Sundry Creditors, Employees balances and Advances are pending reconciliation/ confirmation (Refer Note 26). Consequential effect, if any, of adjustments upon confirmation/reconciliation, is not ascertainable.

Reply: A proper system has been put in place, under the supervision of a General Manager, for follow up with other bodies/persons with whom Oriental is entering into business sharing arrangements. There is regular follow-up and liaison with other companies for confirmation and recovery of balances. Certificates are also being obtained from agents, debtors, creditors, etc., for balances due to/from. Regular and proper follow-up is also done for recoveries. Balances due to/from employees are adjusted/recovered through salary.

2. Various claims have been repudiated by the company from time to time. Out of these certain numbers of claimants have gone into litigations at various forums. Financial impact if any on the profitability of the company remains indeterminate.

Reply: Claim provisions are made in the books of the Company in all cases of litigated claims where the Company"s dealing advocates are of

fu;a=d ,oa egkys[kkijh{kd }kjk o"kZ 2014&15 ds fy, dsanzh; lkafof/kd ys[kk ijh{kdksa ds rkSj ij] vkSj dEiuh vf/kfu;e] 2013 dh /kkjk 129¼4½ ds lkFk iBuh; /kkjk 139 ds varxZr lesfdr foRrh; foojf.kdkvksa ds ys[kk ijh{kdksa ds rkSj ij Hkh] fu;qDr fd;k x;k%

lHkh izHkkxh; dk;kZy;ks esa] o"kZ 2014&15 ds fy, Hkkjr ds fu;a=d ,oa egkys[kkijh{kd dh fu;qfDr dh xbZA ge vius lHkh ys[kk ijh{kdksa dk muds ewY;oku lg;ksx vkSj ekxZn'kZu ds fy, vkHkkj izdV djrs gSaA

11- ys[kk ijh{kdksa dh fjiksVZys[kkijh{kdksa dh fVIif.k;ka vkSj mu ij gekjs mRrj fuEukuqlkj gSa%

1- chek O;olk; esa yxs O;fDr;ksa ;k fudk;ksa ls@dks ns; 'ks"k] varj.kdrkZ dEifu;ka esa vkjf{kr tek] ,tsaVksa ds 'ks"k] NksVs dtZnkjksa nsunkjksa] NksVs ysunkjksa ds 'ks"k] deZpkjh 'ks"k vkSj vfxze lek'kks/ku@ vfHkiqf"V ds fy, yafcr gSaA ¼fVIi.kh 26 dk lanHkZ ysa½A vfHkiqf"V@lek'kks/ku ij lek;kstuksa ds ifj.kkeh izHkkoksa] ;fn dksbZ gksa] dk vkdyu ugha fd;k tk ldrkA

mRrj% ftu vU; fudk;ksa@O;fDR;ksa ds lkFk vksfj,aVy dkjksckjh lgHkkfxrk ds le>kSrs dj jgh gS] muds lkFk vuqlj.k dkjZokbZ ds fy,] egkizca/kd ds i;Zos{k.k ds v/khu ,d mi;qDr iz.kkyh ekStwn gSA 'ks"kksa dh iqf"V vkSj fjdojh ds fy, vU; dEifu;ksa ds lkFk fu;fer vuqlj.k vkSj lEiØ dkjZokbZ dh tkrh gSA ,tsaVksa] ysunkjksa] nsunkjksa vkfn ls@dks ns; 'ks"k jkf'k;ksa ds fy, izek.ki= Hkh izkIr fd, tk jgs gSaA olwfy;ksa ds fy, Hkh fu;fer vkSj vuqlj.k dkjZokbZ dh tkrh gSA deZpkfj;ksa dks@ls 'ks"k jkf'k;ksa dk lek;kstu@olwyh osru ds ek/;e ls dh tkrh gSA

2- dEiuh }kjk le; le; ij vusd nkoksa dk ifjR;kx fd;k x;k gSA buesa ls dfri; la[;k esa nkosnkj fofHkUu eapksa ij eqdn~nesckth esa lafyIr gSaA dEiuh dh ykHkiznrk ij foRrh; izHkko] ;fn dksbZ gks] vfuf'pr cus gq, gSaA

mRrj% nkoksa ds fy, izko/kku mu lHkh ifjoknh nkoksa ds ekeyksa esa fd, tkrs gSa ftuesa dEiuh ds lacaf/kr



23

the opinion that the court judgements are likely to go against the Company. Hence, the financial impacts of such repudiated claims are factored into the profitability of the Company. Company has also laid down an accounting policy in this matter at point No. 5.1.e of ‘Annexure I-Accounting Policies and Notes".

3. Additional liability of Rs.14856.73 lacs on account of Gratuity relating to serving employees have been amortized over five years and 1/5th of the liability of Rs. 2971.35 lacs have been charged to Revenue/Profit & Loss account in the current year as permitted by IRDAI. However, in terms of Accounting Standard 15 (Revised) on Employees benefits issued by ICAI, entire liability is required to be charged to Profit & Loss account. Entire liability was required to be charged to Profit & Loss Account in the year of reckoning. As a result the current year profit has decreased by Rs.2971.35 lacs.

Reply: The amortization of the additional liability of Rs. 14856.73 lacs on account of enhanced limits of gratuity, were done over a 5-year period beginning with 2010-11 on the basis of IRDAI Circular No. IRDAI/F&A/CIR/ACT/069/04/2011 dt. 18/04/2011. This special dispensation was provided by the Authority to PSU insurance companies to mitigate the undue strain on the Solvency Margin and performance results of the companies. The last instalment of the amortization amount of Rs. 2971.35 lacs was charged to profit in the financial year 2014-15.

4. Amount of reinstatement insurance premium remains un-booked having corresponding effect on the claims incurred account for which quantum remains indeterminate.

Reply: INLIAS, our core insurance application, contains provision for automatic accounting of reinstatement premium at the time of payment of claims. Such premia are automatically credited to the premium account of the insurance segment concerned.

5. The company has not complied with the requirements of disclosure under the Micro,

odhyksa dk ;g er jgrk gS fd U;k;ky; ds fu.kZ; dEiuh ds fo#) tkus dh laHkkouk gSA bl izdkj] ,sls ifjR;kxs x, nkoksa ds foRrh; izHkkoksa dks dEiuh dh ykHkiznrk esa ys[ks esa fy;k tkrk gSA dEiuh us bl ekeys esa ‘vuqca/k I-ys[kkdj.k uhfr;ka vkSj fVIif.k;ka ds fcanq la[;k 5-1-bZ ij ,d ys[kkdj.k uhfr Hkh fu/kkZfjr dh gSA

3- fiNys ikap o"kksZa ds nkSjku lsokjr deZpkfj;ksa ls lacaf/kr minku dh [kkrs esa #- 14856-73 yk[k dh vfrfjDr nsunkjh dk ifj'kks/ku fd;k tk pqdk gS vkSj] tSlh fd vkbZvkjMh,vkbZ }kjk vuqefr nh xbZ gS] #- 2971-35 yk[k dh 1/5 nsunkjh pkys o"kZ esa jktLo@ykHk&gkfu ys[ks esa izHkkfjr dh xbZ gSA

rFkkfi] vkbZlh,vkbZ }kjk deZpkjh ykHkksa ij tkjh ys[kkdj.k ekud ¼la'kksf/kr½ ds vuqlkj] lEiw.kZ nsunkjh dks ykHk&gkfu ys[ks ij izHkkfjr fd;k tkuk visf{kr gSA ifj.kkeLo:i pkyw o"kZ ds ykHk esa #- 2971-35 djksM+ dh deh dh xbZ gSA

mRrj% vkbZvkjMh,vkbZ ds fnukad 18@04@2011 ds ifji= la[;k vkbZvkjMh,vkbZ@F&A/CIR/ ACT/069/04/2011 ds vk/kkj ij o"kZ 2010&11 ls vkjaHk djds 5 o"kZ dh vof/k ds nkSjku minku dh loaf/kZr lhekvksa ds [kkrs esa #-14856-73 yk[k dh vfrfjDr nsunkjh dk ifj'kks/ku fd;k x;kA izkf/kdj.k }kjk ih,l;w chek dEifu;ksa dks ;g fo'ks"k O;oLFkk dEiuh ds _.k'kks/ku ekftZu vkSj fu"iknu ifj.kkeksa ij cstk ncko dk 'keu djus ds mn~ns'; ls iznku dh xbZ FkhA #- 2971-35 yk[k dh ifj'kks/ku jkf'k dh vafre fd'r foRr o"kZ 2014&15 esa ykHkesa izHkkfjr dh xbZA

4- iqu% mRFkku chek izhfe;e dh jkf'k fcuk ntZ jg xbZ gS ftldk lacaf/kr izHkko ys[kk ij fd, x, nkoksa ij iM+rk gS ftlls lacaf/kr ek=k vfuf'pr cuh gqbZ gSA

mRrj% gekjs dsanzh; chek ,Iyhds'ku INLIAS esa nkoksa ds Hkqxrku ds le; iqu%LFkkiu izhfe;e ds Lor% ys[kkdj.k ds fy, izko/kku 'kkfey gSA ,sls izhfe;e Lopkfyr :i ls lacaf/kr chek lsxesaV esa ØsfMV dj fy, tkrs gSaA

5- dEiuh us lw{e] y?kq vkSj e/;e m|e fodkl vf/kfu;e 2006 ds v/khu izdVhdj.k dh vis{kkvksa


Small and Medium Enterprises Development Act 2006.

Reply: Company has not defaulted, nor has it delayed, any payment due to any micro, small and medium enterprise from which it has been procuring supplies or availing service.

6. Note No.1 regarding Contingent Liability wherein vide Sr. No. (e) statutory demands / liabilities of Rs 5671.12 Lacs is mentioned which includes a sum of Rs 5634.08 Lacs of penalty imposed by the Income Tax Authorities for the AY 2005-06 and 2010-11, for which no provision has been made by the company.

Reply: No provision has been made by the Company in its books for the following reasons:

a) the Company has gone on appeal before CIT (Appeals) and has fair chance of winning the case.

b) the matter has been admitted by the Honorable High Court of Delhi as a substantial question of law. As per various income-tax rulings, once an issue is admitted by the High Court as a question of law, no penalty can be imposed on the same.

c) the penalty pertains to exemption/refund of tax on profit on sale/redemption of investments. There have been various judgments in favor of General Insurance companies in this matter, where the Courts have relied on CBDT Circular No. 528 and held that profit on sale/redemption of investments is not chargeable to tax.

7. Note No.25 regarding non-availability of title documents of certain properties.

Reply: Company is in possession of documents like Share Certificates or Sale Deeds or registration particulars of properties, so that ownership of the property can be unequivocally established.

8. Fixed Assets including immovable properties records are not complete and/or not maintained as required in certain cases.

dk vuqikyu ugha fd;k gSA

mRrj% dEiuh us ,sls fdlh Hkh lw{e] y?kq vkSj e/;e miØe dks ns; fdlh Hkh Hkqxrku esa u rks pwd dh gS u gh foyac fd;k gS ftuls ;g vkiwfrZ;ka vftZr ;k lsok,a izkir djrh jgh gSA

6- vkdfLed nsunkjh ls lacaf/kr fVIi.kh la[;k ftlesa Ø-la- ¼bZ½ ds }kjk #- 5671-12 yk[k dh lkafof/kd ekaxsa@nsunkfj;ka mfYyf[kr dh xbZ gSa] ftlesa vkdyu o"kZ 2005&06 vkSj 2010&11 ds fy, vk;dj izkf/kdkfj;ksa }kjk yxkbZ xbZ #- 5634-08 yk[k dh tqekZus dh jkf'k 'kkfey gSSA

mRrj% dEiuh }kjk fuEufyf[kr dkj.kksa ls viuh iqfLrdkvksa esa dksbZ izko/kku ugha fd;k x;k gS%

d½ dEiuh us lhvkbZVh ¼vihy½ ds le{k vihy nk;j dh gS vkSj dsl thrus ds vPNs vklkj gSaA

[k½ ekeys dks ekuuh; fnYyh mPp U;k;ky; }kjk fof/k ds mYys[kuh; iz'u ds :i esa Lohd`r dj fy;k x;k gSA vk; dj ds vusd fu.kZ;ksa ds vuqlkj] ,d ckj ekeys dks mPp U;k;ky; }kjk Lohd`r dj ysus ds ckn] bl ij dksbZ tqekZuk ugha yxk;k tk ldrkA

x½ tqekZuk fuos'kksa dh fcØh@_.keqfDr ij ykHk in dj dh NwV@fjQaM ls lacaf/kr gSA bl ekeys esa chek dEifu;ksa ds i{k esa vusd fu.kZ; gks pqds gSa] ftuesa U;k;ky;ksa us lhchMhVh ds ifji= la[;k 528 ij fo'okl djds ;g fu.kZ; fn;k gS fd fuos'kksa dh fcØh@_.keqfDr ij ykHk dj esa izHkkj.kh; ugha gSA

7- dfri; lEifRr;ksa ds LoRokf/kdkj nLrkostksa dh vuqiyC/krk ls lacaf/kr fVIi.kh la[;k 25

mRrj% dEiuh ds ikl lEifRr;ksa ds 'ks;j lfVZfQdsVksa ;k fcØh foys[kksa ;k iathdj.k fooj.kksa tSls nLrkost gSa rkfd lEifRr dk LokfeRo Li"Vr;k LFkkfir fd;k tk ldsA

8- vpy lEifRr;ksa lfgr LFkk;h ifjlEifRr;ksa ds vfHkys[k iw.kZ ughsa gSa vkSj@;k dfri; ekeyksa dh vis{kkuqlkj vuqjf{kr ugha fd, x,



25

Reply: A fixed asset software module is being developed by the Company to ensure proper accounting and maintaining of asset registers.

9. The Internal Audit / Concurrent Audit of company require substantial strengthening in the areas of audit coverage and compliances.

Reply: In order to strengthen the Internal Audit machinery of the Company, an officer of the rank of Chief Manager having CA qualification has been appointed at the head of the Internal Audit Dept at HO in compliance of the provisions of the new Companies Act, 2013. Efforts are also underway to reduce the time gap between audits by conducting frequent audits. A software has also been incorporated into INLIAS, our core insurance application, for speedy compliance and efficient monitoring of audit queries.

10. Note no. 42 pertaining to non recognition of Deferred Tax Asset by the company.

Reply: The Company has unabsorbed depreciation and carry forward of losses to the extent of Rs.3373.98 crores up to the FY 2014-15. As per AS 22 “Accounting for Taxes on Income', deferred tax assets can be recognized by an enterprise only to the extent that there is a virtual certainty, supported by convincing evidence, that sufficient future taxable income will be available against which such deferred tax assets can be realized. Considering the virtual certainty concept, Company is not justified in recognizing deferred tax asset in its accounts merely on the basis of profit in the current year.

11. Note no. 29(IV) regarding booking of interest on Income Tax of Rs. 1914 Lacs

Reply: Company received a refund of Rs. 61.74 crores from the income-tax department for the Assessment Year 1978-79 along with an interest of Rs. 19.14 crores, which was properly accounted under the head ‘Interest on income-tax refunds".

12. Note no. 27 pertaining to change in Accounting Policy of Depreciation/ Amortization.

mRrj% dEiuh }kjk ifjlEifRr jftLVjksa dk mi;qDr ys[kkdj.k vkSj vuqj{k.k lqfuf'pr djus ds fy, ,d LFkk;h ifjlEiRr ekWM~;wy fodflr fd;k tk jgk gSA

9- dEiuh dh vkarfjd ys[kk ijh{kk@leorhZ ys[kk ijh{kk ds fy, ys[kk ijh{kk dh dojst vkSj vuqikyuksa ds {ks=ksa esa mYys[kuh; lqn<+hdj.k visf{kr gSA

mRrj% dEiuh ds vkarfjd ys[kk ijh{kk ra= dks lqn<+ cukus ds mn~ns'; ls] u, dEiuh vf/kfu;e] 2013 ds izko/kkuksa ds vuqikyu esa eq[;ky; esa lh, dh ;ksX;rk j[kus okys eq[; izca/kd ds Lrj ds vf/kdkjh dks eq[;ky; esa vkarfjd ys[kk ijh{kk foHkkx dk izeq[k fu;qDr fd;k x;k gSA

ys[kk ijh{kkvksa ds chp dh le; lhek dks de djus ds fy, fu;fer ys[kk ijh{kk,a djus ds iz;kl Hkh fd, tk jgs gSaA ys[kk ijh{kk dh fVIif.k;ksa dh rhoz vuqikyu vkSj dq'ky ekWuhVfjax ds fy, gekjs dsanzh; ,Iyhds'ku INLIAS esa ,d lksQ~Vos;j Hkh lekfo"V fd;k x;k gSA

10- dEiuh }kjk vkLFkfxr dj ifjlEifRr;ksa dh vLohd`fr ls lacaf/kr fVIi.kh la[;k 42

mRrj% dEiuh ds ikl foRr o"kZ 2014&15 rd #- 3373-98 djksM+ rd vlekfo"V ewY;g`kl vkSj ?kkVksa dh vxys ykHk ls iwfrZ gSA ^vk; ij dj ds fy, ys[kkdj.k* ij ys[kkdj.k ekud 22 ds vuqlkj] fdlh m|e }kjk vkLFkfxr dj ifjlEifRr;ksa dh Lohd`fr dsoy ml lhek rd dh tkrh gS fd fo'oluh; lk{;ksa }kjk lefFkZr oLrqr% ;g fuf'prrk gks dh i;kZIr Hkkoh dj&;ksX; vk; miyC/k gksxh ftlds lkis{k ,slh vkLFkfxr dj ifjlEifRr;ka olwy dh tk ldrh gSaA oLrqr% fuf'prrk ladYiuk ns[krs gq,] dEiuh dsoy pkyw o"kZ esa ykHk ds vk/kkj vius ys[kksa esa vkLFkfxr dj ifjLEifRr dh Lohd`fr djus esa U;k;ksfpr ugha gSA

11- #- 1914 yk[k ds vk; dj ij C;kt dh cqfdax ls lacaf/kr fVIi.kh la[;k 29(IV)

mRrj% dEiuh dks vkdyu o"kZ 1978&79 ds fy, vk; dj foHkkx ls #- 61-74 djksM+ ds fjQaM ds lkFk&lkFk #- 19-14 djksM+ C;kt izkIr gqvk gSA ftldk mi;qDr :i ls vk; dj fjQaMksa ij C;kt 'kh"kZ ds rgr ys[kkdj.k fd;k x;k gSA


Reply: The change in accounting policy of depreciation/amortization has been necessitated due to the new Companies Act. The financial impact of Rs. 136.44 lacs of such a change has been reported in the ‘Notes to Accounts". Note No. 27(i). The revised accounting policy has also been mentioned in ‘Annexure-I Accounting Policies and Notes" vide Point Nos. 9.1 and 9.2.

12a. extract of the annual return

The extract of the annual return in Form No. MGT – 9 is annexed to the Board"s report

13. Conservation of energy, technology absorption and foreign exchange earnings and outgo

a. Conservation of energy, technology absorption

The Company is not engaged in any manufacturing activity and the operations of the Company are no energy intensive. Further, no new technology has been absorbed by the Company. Hence no particulars required as such to be disclosed under the Companies (Accounts) Rules, 2014 as regards conservation of energy or technologies absorption are being given.

B. Foreign exchange earnings and outgo:

The Company"s foreign exchange earnings for the year 2014-15 are Rs. 164.63 crores whereas the outgo in foreign currency has been Rs. 334.38 crores.

14. Corporate social Responsibility (CsR) The disclosures as per Rule 9 of Companies (Corporate Social Responsibility Policy) Rules, 2014 are annexed to the Director"s Report

15. directors:a) Board of directors and Key Managerial

Personnel

BoaRd oF diReCtoRs & its CoMMitteesThe Board of Directors of the Company consists of a perfect blend of experts from

12- ewY;g`kl@_.keqfDr dh ys[kkdj.k uhfr esa ifjorZu ls lacaf/kr fVIi.kh la[;k 27

mRrj% ewY;g`kl@_.keqfDr dh ys[kkdj.k uhfr esa ifjorZu dh vko';drk u, dEiuh vf/kfu;e dh otg ls iM+hA ys[kkvksa ij fVIif.k;ksa ls lacaf/kr fVIi.kh la[;k 27(i) esa ,sls ifjorZu ds #- 136-44 yk[k ds foRrh; izHkko dh lwpuk nh xbZ gSA la'kksf/kr ys[kkdj.k uhfr dk mYys[k ‘vuqca/k-I ys[kkdj.k uhfr;ka vkSj fVIif.k;ka* esa fcanq la[;k 9-1 vkSj 9-2 esa Hkh fd;k x;k gSA

12d- okf"kZd fjVuZ ds m)j.k QkWeZ la[;k MGT – 9 esa okf"kZd fjVuZ ds m)j.k

cksMZ dh fjiksVZ ds lkFk layXu gSaA

13- mtkZ laj{k.k] izkS|ksfxdh lekos'k vkSj fons'kh eqnzk vk; vkSj ifjO;;

d½ mtkZ laj{k.k] izkS|ksfxdh lekos'k dEiuh fdlh fuekZ.k xfrfof/k esa ugha yxh

gS vkSj dEiuh dk dksbZ izpkyu mtkZ laosnh ugha gSA blds vfrfjDr] dEiuh }kjk dksbZ ubZ izkS|ksfxdh lekfo"V ugha dh gSA blfy, mtkZ laj{k.k ;k izkS|ksfxdh lekos'ku ds laca/k esa dEiuh ¼ys[kk½ fu;ekoyh] 2014 ds v/khu bl izdkj fdlh izdkj ds fooj.k dk visf{kr izdVhdj.k ugha fd;k tk jgk gSA

[k½ fons'kh eqnzk vk; vkSj ifjO;;: o"kZ 2014&15 ds fy, dEiuh dh fons'kh eqnzk

vk; #- 164-63 djksM+ gS tcfd fons'kh eqnzk esa ifjO;; #- 334-38 djksM+ jgk gSA

14- fuxfer lkekftd nkf;Ro ¼lh,lvkj½ dEiuh ¼fuxfer lkekftd nkf;Ro uhfr½ fu;ekoyh]

2014 ds fu;e 9 vuqlkj izdVhdj.k funs'kdksa dh fjiksVZ ds lkFk layXu gSA

15- funs'kd%v½ funs'kd eaMy vkSj izeq[k izca/kdh; dkfeZd

funs'kd eaMy vkSj bldh lfefr;ka dEiuh ds funs'kd eaMy esa chek] cSafdax vkSj

foRrh; {ks=ksa ds fo'ks"kKksa dk mRre feJ.k 'kkfey gSA fnukad 31 ekpZ] 2015 dks dEiuh ds funs'kd



27

the fields of Insurance, Banking and finance sectors of the Company as on 31st March, 2015 is as under:

1. Dr. A. K. Saxena, Chairman-cum-Managing Director2. Shri Jatinderbir Singh, IAS, Director3. Dr. N. Srinivasa Rao, Director4. Mrs. Kaushalya Roy, Director5. Shri Vijay Garg, Director6. Shri A. S. Bali, Director7. Shri Kuldip Singh, Wholetime Director8. Shri Sujay Banarji, Wholetime Director

The Board underwent the following changes in its composition since the date of last directors" report i.e. 15th May, 2014:

1. Shri Jatinderbir Singh, IAS, Chairman & Managing Director, Punjab & Sind Bank, was appointed as a Director on the Board of the Company w.e.f. 23rd March, 2015.

2. Shri S. L. Bansal, Chairman & Managing Director, Oriental bank of Commerce, on attaining superannuation, ceased to be Director of the Company w.e.f. 30th September, 2014.

3. Shri Sujay Banarji, General Manager of the Company, was appointed as a Whole-time Director on the Board of the Company w.e.f. 17th July, 2014

BoaRd Meeting details:During the year, the Board met Six (6) times viz. on 24th April, 2014, 15th May, 2014, 12th August, 2014, 8th November, 2014, 6th February, 2015 and 19th March, 2015. The attendance of the Directors at the said meetings is as below:

director no. of Meetings

held in his / her tenure

no. of Meetings attended

Dr. A. K. Saxena 6 6Shri Jatinderbir Singh, IAS

NIL NIL

Shri S. L. Bansal 3 2

eaMy dh lajpuk fuEukuqlkj gS%

1- MkW- ,-ds- lDlsuk] v/;{k ,oa izca/kd funs'kd 2- Jh tfranjchj flag] vkbZ,,l] funs'kd 3- MkW- ,u- Jhfuokl jko] funs'kd 4- Jherh dkS'kY;k jk;] funs'kd5- Jh fot; xxZ] funs'kd6- Jh ,-,l- ckyh] funs'kd7- Jh dqynhi flag] iw.kZdkfyd funs'kd 8- Jh lqtk; cuthZ] iw.kZdkfyd funs'kd

funs'kdksa dh fiNyh fjiksVZ vFkkZr 15 ebZ] 2014 ds ckn ls cksMZ dh lajpuk esa fuEufyf[kr ifjorZu gq, gSa%

1- Jh tfranjchj flag] vkbZ,,l] v/;{k ,oa izca/kd funs'kd] iatkc ,aM fla/k cSad dks 23 ekpZ] 2015 ls dEiuh ds cksMZ esa funs'kd ds rkSj ij fu;qDr fd;k x;kA

2- Jh ,l-,y- caly] v/;{k ,oa izca/kd funs'kd] vksfj,.Vy cSad vkWQ dkWelZ] lsokfuo`fRr gksus ij] fnukad 30 flracj] 2014 ls dEiuh ds funs'kd ugha jgsA

3- dEiuh ds egkizca/kd Jh lqtk; cuthZ dks fnukad 17 tqykbZ] 2014 ls dEiuh ds cksMZ esa iw.kZdkfyd funs'kd fu;qDr fd;k x;kA

cksMZ dh cSBdksa dk C;kSjk% o"kZ ds nkSjku] cksMZ dh cSBd Ng ¼6½ ckj vFkkZr~

24 vizSy] 2014] 15 ebZ] 2014] 12 vxLr] 2014] 8 uoEcj] 2014] 6 Qjojh] 2015 vkSj 19 ekpZ] 2015 dks gqbZA mDr cSBdksa esa funs'kdksa dh mifLFkfr dk C;kSjk fuEukuqlkj gS%

funs'kd muds dk;Zdky esa vk;ksftr

cSBdksa dh la[;k

cSBdksa dh la[;k ftuesa

mifLFkr jgs

MkW- ,-ds- lDlsuk 6 6Jh tfranjchj flag] vkbZ,,l

'kwU; 'kwU;

Jh ,l-,y- caly 3 2MkW- ,u- Jhfuokl jko 6 6


Dr. N. Srinivasa Rao

6 6

Mrs. Kaushalya Roy

6 6

Shri Vijay Garg 6 4Shri A. S. Bali 6 5Shri Kuldip Singh 6 6Shri Sujay Banarji 4 3

Shri Y. P. Sabharwal, Consulting Actuary and Shri Nikhil Gupta, Appointed Actuary, were present in the Board meetings held during the year.

The Board also met on 15th May, 2015, for approval of Audited Financial Statements for the financial year 2014-15.

aUdit CoMMittee details:The Audit Committee inter-alia oversees the financial statements and financial reporting before submission to the Board, Internal audit function and the related work.

During the year, the Committee met Six (6) times viz. on 24th April, 2014, 15th May, 2014, 12th August, 2014, 8th November, 2014, 6th February, 2015 and 19th March, 2015. The attendance of the Members of the Committee at the said meetings is as below:




Dr. N. Srinivasa Rao

4 4

Shri S. L. Bansal 2 1Shri Vijay Garg 4 2Shri A. S. Bali 4 3Shri Kuldip Singh 4 4

investMentCoMMittee details:The composition of Investment Committee is in accordance with the provisions of the IRDAI (Investment) Regulations 2000 as amended and the Guidelines issued thereby by IRDAI from time to time. During the year, the

Jherh dkS'kY;k jk; 6 6Jh fot; xxZ 6 4Jh ,-,l- ckyh 6 5Jh dqynhi flag 6 6Jh lqtk; cuthZ 4 3

Jh okbZ-ih- lHkjoky] ijke'kZnkrk chekafdd vkSj Jh fuf[ky xqIrk] fu;qDr chekafdd o"kZ ds nkSjku vk;ksftr cksMZ dh cSBdksa esa mifLFkr FksA

cksMZ dh cSBd] foRr o"kZ 2014&15 ds fy, ys[kk ijhf{kr foRrh; foojf.kdkvksa ds vuqeksnu ds fy,] fnukad 15 ebZ] 2015Z dks Hkh gqbZA

ys[kk ijh{kk lfefr dk C;kSjk½ ys[kk ijh{kk lfefr] vU; ckrksa ds lkFk&lkFk] cksMZ

esa izLrqr fd, tkus ls igys foRrh; foojf.kdkvksa vkSj foRrh; fjiksfVZax] vkarfjd ys[kk ijh{kk dk;Z vkSj lacaf/kr dk;Z dk i;Zos{k.k djrh gSA

o"kZ ds nkSjku] lfefr dh cSBd Ng ¼6½ ckj vFkkZr~ 24 vizSy] 2014] 15 ebZ] 2014] 12 vxLr] 2014] 8 uoEcj] 2014] 6 Qjojh] 2015 vkSj 19 ekpZ] 2015 dks gqbZaA mDr cSBdksa esa lfefr ds lnL;ksa dh mifLFkfr dk C;kSjk fuEukuqlkj gS%

funs'kd muds dk;Zdky esa vk;ksftr cSBdksa

dh la[;k


mifLFkr jgsMkW- ,u- Jhfuokl jko 4 4Jh ,l-,y- caly 2 1Jh fot; xxZ 4 2Jh ,-,l- ckyh 4 3Jh dqynhi flag 4 4

fuos'k lfefr dk C;kSjk% fuos'k lfefr dh lajpuk vkbZvkjMh,vkbZ ¼fuos'k½

fofu;ekoyh 2000 ds ;Fkk la'kksf/kr izko/kkuksa vkSj vkbZvkjMh,vkbZ }kjk le; le; ij tkjh fn'kkfunsZ'kksa ds vuqlkj gSA o"kZ ds nkSjku fuos'k lfefr dh cSBd ikap ¼5½ ckj vFkkZr vizSy] 2014] ebZ] 2014] vxLr]2014] uoEcj] 2014 vkSj Qjojh] 2015 dks gqbZA mDr cSBdksa esa lfefr ds lnL;ksa dh mifLFkfr dk C;kSjk fuEukuqlkj gS%



29

Investment Committee met five (5) times viz. on 24th April, 2014, 15th May, 2014, 12th August, 2014. 8th November, 2014 and 6th February, 2015. The attendance of the Members of the Committee at the said meetings is as below:




Dr. A. K. Saxena 5 5Shri S. L. Bansal 3 2Dr. N. Srinivasa Rao 5 4Mrs. Kaushalya Roy 5 5Shri Vijay Garg 5 3Shri A. S. Bali 5 4Shri A. K. Mittal 5 5Shri M. N. Sarma 3 3Mrs. K. Ramadevi 2 2Shri Nikhil Gupta 2 2

aPPeal & MeMoRial CoMMittee details:The sub-committee of the Board has been prescribed as the Appellate Authority and the Authority for Memorial for certain categories of employees / cases. The Sub-committee was constituted consequent upon the amendment of General Insurance (Conduct, Discipline & Appeal) Rules, 1975 which was duly approved in the 351st Board Meeting held on 23.12.2004. The General Insurance (Conduct, Discipline & Appeal) Rules, 1975 is now replaced with The Oriental Insurance Company (Conduct, Discipline & Appeal) Rules, 2014 which were duly approved in the 419th Board Meeting held on 24/04/2014.

The constitution of Sub-Committee was kept in abeyance consequent to retirement of Shri S. L. Bansal, Chairman & Managing Director of The Oriental Bank of Commerce after attaining the age of superannuation, from the Board of the Company, till the time fresh appointment of Bank Nominee Director was notified by the Ministry of Finance.

No meeting of the said Committee was held during the year


dh la[;k


mifLFkr jgs

MkW- ,-ds- lDlsuk 5 5

Jh ,l-,y- caly 3 2

MkW- ,u- Jhfuokl jko 5 4

Jherh dkS'kY;k jk; 5 5

Jh fot; xxZ 5 3

Jh ,-,l- ckyh 5 4

Jh ,-ds- feRry 5 5

Jh ,e-,u- 'kekZ 3 3

Jherh ds- jeknsoh 2 2

Jh fuf[ky xqIrk 2 2

vihy ,oa Lekjd lfefr dk C;kSjk% dfri; Jsf.k;ksa ds deZpkfj;ksa@ekeyksa ds fy, vihyh;

izkf/kdj.k vkSj Lekjd ds fy, izkf/kdj.k ds rkSj ij cksMZ dh mi&lfefr fofgr dh xbZ gSA mi&lfefr dk xBu lkekU; chek ¼vkpj.k] vuq'kklu ,oa vihy½ fu;ekoyh] 1975 ds la'kks/ku ds ifj.kkeLo:i fd;k x;k Fkk ftls fnukad 23-12-2004 dks vk;ksftr cksMZ dh 351oha cSBd esa fof/kor vuqeksfnr fd;k x;k FkkA vc lkekU; chek ¼vkpj.k] vuq'kklu ,oa vihy½ fu;ekoyh] 1975 dk LFkku vksfj,.Vy chek dEiuh ¼vkpj.k] vuq'kklu ,oa vihy½ fu;ekoyh] 2014 us ys fy;k gS ftls fnukad 24-04-2014 dks vk;ksftr cksMZ dh 419oha cSBd esa fof/kor vuqeksfnr fd;k x;k FkkA

vksfj,.Vy cSad vkWQ dkWelZ ds v/;{k ,oa izca/k funs'kd Jh ,l-,y- caly dh vf/kokf"kZrk ds ifj.kkeLo:i mudh cksMZ ls lsokfuofRr mi&lfefr dh xBu izfØ;k foRr ea=ky; }kjk vf/klwfpr cSad ds ukfer funs'kd dh fu;qfDr rd jksd dj j[kh xbZA

o"kZ ds nkSjku mDr lfefr dh dksbZ cSBd vk;ksftr ugha dh xbZA

ikfjJfed lfefr ¼lh,eMh dh ih,yvkbZ ds fy,½ dk C;kSjk

ikfjJfed lfefr dk xBu] foRr ea=ky; ds foRrh; lsok foHkkx }kjk fnukad 20 tqykbZ] 2007 ds i= lanHkZ


ReMUneRation CoMMittee (FoR CMd"s Pli) detailsThe Remuneration Committee was constituted to evaluate performance of the Chairman-cum-Managing Director, for payment of Performance Linked Incentive (PLI) as directed by The Department of Financial Services, Ministry of Finance, vide letter Ref. No. F.No.S-11012/01/2007-Ins.III dated 20th July, 2007.

No meeting of the Committee was held in the year 2014-15 due to pending replies to clarifications sought from Ministry

RisK ManageMent CoMMittee detailsThe Risk Management Committee was constituted in accordance with the guidelines on Corporate Governance issued by IRDAI vide its circular ref: IRDAI/F&A/CIR/025/2009-10 dated 5th August, 2009. During the year, the Risk Management Committee met four (4) times viz. on 27th June, 2014, 8th September, 2014, 17th November, 2014 and 28th January, 2015. The attendance of the Members of the Committee at the said meetings is as below:




Dr. A. K. Saxena 4 4Dr. N. Srinivasa Rao 4 2Mrs. Kaushalya Roy 4 4Shri Kuldip Singh 4 3

PoliCYholdeR"s PRoteCtion CoMMittee detailsThe Policyholder"s Protection Committee was constituted in accordance with the guidelines on Corporate Governance issued by IRDAI vide its circular ref: IRDAI/F&A/CIR/025/2009-10 dated 5th August, 2009. During the year, the Policyholder"s Protection Committee met four (4) times viz. on 27th June, 2014, 8th September, 2014, 17th November, 2014 and 28th January, 2015. The attendance of the Members of the

la[;k F.No.S-11012/01/2007-Ins.III }kjk fn, x, funs'k ds vuqlkj fu"iknu lac) izksRlkgu jkf'k ¼ih,yvkbZ½ ds Hkqxrku ds mn~ns'; ls v/;{k ,oa izca/k funs'kd ds fu"iknu dk ewY;kadu djus ds fy, fd;k x;k FkkA

ea=ky; ls ekaxs x, Li"Vhdj.kksa ds mRrjksa ds yafcr jgus dh otg ls o"kZ 2014&15 esa lfefr dh dksbZ cSBd vk;ksftr ugha dh xbZA

tksf[ke izca/ku lfefr dk C;kSjk tksf[ke izca/ku lfefr dk xBu vkbZvkjMh,vkbZ }

kjk fnukad 5 vxLr] 2009 ds ifji= lanHkZ la[;k IRDAI/F&A/CIR/025/2009-10 }kjk tkjh fuxfer 'kklu laca/kh fn'kkfunsZ'kksa ds vuqlkj fd;k x;k FkkA o"kZ ds nkSjku] tksf[ke izca/ku lfefr dh cSBd pkj ¼4½ ckj vFkkZr~ fnukad 27 twu] 2014] 8 flrEcj] 2014] 17 uoEcj] 2014 vkSj 28 tuojh] 2015 dks vk;ksftr dh xbZA mDr cSBdksa esa lfefr ds lnL;ksa dh mifLFkfr dk C;kSjk fuEukuqlkj gS%

funs'kd muds dk;Zdky esa

vk;ksftr cSBdksa dh

la[;k


mifLFkr jgs

MkW- ,-ds- lDlsuk 4 4MkW- ,u- Jhfuokl jko 4 2Jherh dkS'kY;k jk; 4 4Jh dqynhi flag 4 3

ikWfylh/kkjd laj{k.k lfefr dk C;kSjk ikWfylh/kkjd laj{k.k lfefr dk xBu vkbZvkjMh,vkbZ

}kjk fnukad 5 vxLr] 2009 ds ifji= lanHkZ la[;k IRDAI/F&A/CIR/025/2009-10 }kjk tkjh fuxfer 'kklu laca/kh fn'kkfunsZ'kksa ds vuqlkj fd;k x;k FkkA o"kZ ds nkSjku] ikWfylh/kkjd laj{k.k lfefr dh cSBd pkj ¼4½ ckj vFkkZr~ fnukad 27 twu] 2014] 8 flrEcj] 2014] 17 uoEcj] 2014 vkSj 28 tuojh] 2015 dks vk;ksftr dh xbZA mDr cSBdksa esa lfefr ds lnL;ksa dh mifLFkfr dk C;kSjk fuEukuqlkj gS%



31

Committee at the said meetings is as below:





ethiCs CoMMittee detailsThe Ethics Committee was constituted in accordance with the guidelines on Corporate Governance issued by IRDAI vide its circular ref: IRDAI/F&A/CIR/025/2009-10 dated 5th August, 2009.

No meeting of the Committee was held during the year.

it CoMMittee detailsThe Committee was constituted to lend more focus to the IT initiatives of the Company and also to ensure that the IT initiatives are in tune with the business objectives. During the year, the IT Committee met two (2) times viz. on 1st May, 2014 and 4th February, 2015. The attendance of the Members of the Committee at the said meetings is as below:


held in his / her

tenure


Dr. A. K. Saxena 2 2Dr. N. Srinivasa Rao 2 2Shri Kuldip Singh 2 2Shri K. K. Rao 1 1Shri A. K. Mittal 1 1Shri M. N. Sarma 1 1Mrs. K. Ramadevi 1 1

PRoPeRtY RevieW CoMMittee detailsThe Property Review Committee of the Board was constituted in terms of the directives received from Ministry of Finance to review the matters of properties held


cSBdksa dh la[;k


mifLFkr jgsMkW- ,-ds- lDlsuk 4 4MkW- ,u- Jhfuokl jko 4 2Jherh dkS'kY;k jk; 4 4Jh dqynhi flag 4 3

uSfrd lfefr dk C;kSjk uSfrd lfefr dk xBu vkbZvkjMh,vkbZ }kjk fnukad

5 vxLr] 2009 ds ifji= lanHkZ la[;k IRDAI/F&A/CIR/025/2009-10 }kjk tkjh fuxfer 'kklu laca/kh fn'kkfunsZ'kksa ds vuqlkj fd;k x;k FkkA

o"kZ ds nkSjku lfefr dh dksbZ cSBd vk;ksftr ugha dh xbZA

lwpuk izkS|ksfxdh lfefr dk C;kSjk bl lfefr dk xBu dEiuh dh vkbZVh laca/kh igyksa

ij vkSj vf/kd /;ku nsus vkSj lkFk gh ;g lqfuf'pr djus ds fy, Hkh fd;k x;k Fkk fd vkbZVh laca/kh igysa dkjksckjh mn~ns';ksa ds leuq:i gSaA o"kZ ds nkSjku lwpuk izkS|ksfxdh lfefr dh cSBd nks ¼2½ ckj vFkkZr~ 1 ebZ] 2014 vkSj 4 Qjojh] 2015 dks vk;ksftr dh xbZaA mDr cSBdksa esa lfefr ds lnL;ksa dh mifLFkfr dk C;kSjk fuEukuqlkj gS%


cSBdksa dh la[;k


mifLFkr jgsMkW- ,-ds- lDlsuk 2 2MkW- ,u- Jhfuokl jko 2 2Jh dqynhi flag 2 2Jh ds-ds- jko 1 1Jh ,-ds- feRry 1 1Jh ,e-,u- 'kekZ 1 1Jherh ds- jeknsoh 1 1

lEifRr leh{kk lfefr dk C;kSjk cksMZ dh lEifRr leh{kk lfefr dk xBu dEiuh

}kjk /kkfjr lEifRr;ksa ds ekeyksa vkSj vU; lEink laca/kh ekeyksa dh leh{kk ds fy, foRr ea=ky; ls izkIr


by the Company and other Estate related Matters. During the year, the Property Review Committee met four (4) times viz. on 27th June, 2014, 8th September, 2014, 17th November, 2014 and 28th January, 2015. The attendance of the Members of the Committee at the said meetings is as below:





CoRPoRate soCial ResPonsiBilitY CoMMittee detailsThe Corporate Social Responsibility Committee of the Board was constituted in terms of the Section 135 of Companies Act 2013 notified vide Gazette notification no. G. S. R. 129 (E) dated 27th February, 2014 issued by Ministry of Corporate Affairs to approve the CSR Policy of the Company and ensure its implementation. During the year, the Corporate Social Responsibility Committee met five (5) times viz. on 12th August, 2014, 23rd September, 2014, 8th November, 2014, 6th February, 2015 and 19th March, 2015. The attendance of the Members of the Committee at the said meetings is as below:


held in his / her

tenure


Mrs. Kaushalya Roy 5 5Shri S. L. Bansal 2 1Shri A. S. Bali 5 4Shri Kuldip Singh 5 5

KeY ManageRial PeRsonnelPursuant to Section 203(1) of the Companies Act 2013 read with Rule 8 of the Companies (Appointment and Remuneration of Managerial personnel) Rule 2014, following were appointed as Key Managerial Personnel

funs'kksa ds vuqlkj fd;k x;k FkkA o"kZ ds nkSjku lEifRr leh{Kk lfefr dh cSBd pkj ckj ¼4½ vFkkZr~ fnukad 27 twu] 2014] 8 flrEcj] 2014] 17 uoEcj] 2014 vkSj 28 tuojh] 2015 dks gqbZaA mDr cSBdksa esa lfefr ds lnL;ksa dh mifLFkfr dk C;kSjk fuEukuqlkj gS%


dh la[;k


mifLFkr jgsDr. A. K. Saxena 4 4Dr. N. Srinivasa Rao 4 2Mrs. Kaushalya Roy 4 4Shri Kuldip Singh 4 3

fuxfer 'kklu lfefr cksMZ dh fuxfer 'kklu lfefr dk xBu dEiuh

dh lh,lvkj uhfr vuqeksfnr djus vkSj bldk dk;kZUo;u lqfuf'pr djus ds fy, fuxfer dk;Z ea=ky; }kjk fnukad 27 Qjojh] 2014 dh jkti= vf/klwpuk la[;k th-,l-vkj- 129 (E) }kjk vf/klwfpr dEiuh vf/kfu;e 2013 dh /kkjk 135 ds vuqlkj fd;k x;k FkkA fuxfer 'kklu lfefr cSBd ikap ¼5½ ckj vFkkZr~ fnukad 12 vxLr] 2014] 23 flrEcj] 2014] 8 uoEcj] 2014] 6 Qjojh] 2015 vkSj 19 ekpZ] 2015 dks mDr cSBdksa esa lfefr ds lnL;ksa dh mifLFkfr dk C;kSjk fuEukuqlkj gS%


cSBdksa dh la[;k


mifLFkr jgs

Jherh dkS'kY;k jk; 5 5

Jh ,l-,y- caly 2 1

Jh ,-,l- ckyh 5 4

Jh dqynhi flag 5 5

izeq[k izca/kdh; dkfeZd dEiuh ¼izca/kdh; dkfeZdksa dh fu;qfDr vkSj

ikfjJfed½ fu;ekoyh 2014 ds fu;e 8 ds lkFk ifBr dEiuh vf/kfu;e 2013 dh /kkjk 203¼1½ ds vuqlj.k esa] cksMZ dh fnukad 12 vxLr] 2014 dks vk;ksftr cSBd esa izeq[k izca/kdh; dkfeZdksa ds :i esa fuEufyf[kr dh fu;qfDr dh xbZ%



33

in the Board meeting held on 12th August, 2014

1. A. K. Saxena, CMD, 2. Mrs. Rashmi Bajpai, Company Secretary

and 3. Mrs. K. Ramadevi, Chief Financial Officer

& General Manager

B) declaration by an independent director(s) and reappointment, if any Mrs. Kaushalya Roy, Shri Vijay Garg & Shri A. S. Bali, have furnished declaration of meeting the criteria of independence as provided in sub-section (6) of Section 149 of the Companies Act, 2013.

C) Formal annual evaluation In the Board Meeting held on 19th March,

2015, the Board of Directors were informed that as per the provisions of Companies Act, 2013, the performance evaluation of Independent directors shall be done by the entire Board, excluding the Director being evaluated. Board agreed to look into the same and devise the mechanism for performance evaluation of Independent Directors.

16. details of establishment of vigil Mechanism For directors and employees The whistle blower policy is available on the Company"s website.

17. Particulars of loans, guarantees or investments under section 186

None

18. Particulars of contracts or arrangements with related parties:The details in Form AOC -2 are annexed to the Director"s Report.

19. Managerial Remuneration: A) Details of the every employee of the

Company as required pursuant to rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

1- Jh ,-ds- lDlsuk] v/;{k ,oa izca/k funs'kd,2- Jherh jf'e cktis;h] dEiuh lfpo vkSj 3- Jherh ds- jeknsoh] eq[; foRrh; vf/kdkjh vkSj

egkizca/kd

[k½ Lora= funs'kd (funs'kdksa) }kjk ?kks"k.kk vkSj iqu% fu;qfDr] ;fn dksbZ gks

Jherh dkS'kY;k jkW;] Jh fot; xxZ vkSj Jh ,-,l- ckyh us dEiuh vf/kfu;e] 2013 dh /kkjk 149 dh mi&/kkjk ¼6½ esa fd, x, izko/kku ds vuqlkj Lora=rk ds ekinaMkas dks iwjk djus ls lacaf/kr ?kks"k.kk izLrqr dh gSA

x½ vkSipkfjd okf"kZd ewY;kadu fnukad 19 ekpZ] 2015 dks vk;ksftr cksMZ dh cSBd

esa funs'kd eaMy dks lwfpr fd;k x;k fd dEiuh vf/kfu;e] 2013 ds izko/kkuksa ds vuqlkj] Lora= funs'kdksa ds fu"iknu dk ewY;kadu iwjs cksMZ }kjk fd;k tk,xk] flok; mu Lora= funs'kdksa ds] ftudk ewY;kadu fd;k tk jgk gksA cksMZ us bl ij fopkj djus vkSj Lora= funs'kdksa ds ewY;kadu ds fy, ra= fodflr djus ij lgefr iznku dhA

16- funs'kdksa vkSj deZpkfj;ksa ds fy, lrØrk ra= dh LFkkiuk dk C;kSjk

fOgly Cyksvj uhfr dEiuh dh osclkbV ij miyC/k gSA

17- /kkjk 186 ds v/khu _.kksa] xkjafV;ksa ;k fuosa'kksa ds fooj.k

dksbZ ugha

18- lacaf/kr i{kdkjksa ds lkFk djkjksa ;k le>kSrksa ds fooj.k%

QkWeZ ,vkslh-2 esa mDr C;kSjk funs'kdksa dh fjiksVZ ds lkFk layXu gSA

19- izca/kdh; ikfjJfed%

d½ dEiuh ¼izca/kdh; dkfeZdksa dh fu;qfDr vkSj ikfjJfed½ fu;ekoyh 2014 ds fu;e 5¼2½ ds vuqlj.k esa ;Fkksisf{kr dEiuh ds izR;sd deZpkjh dk C;kSjk

dksbZ ugha


None

B) Any director who is in receipt of any commission from the company and who is a Managing Director or Whole-time Director of the Company shall receive any remuneration or commission from any Holding Company or Subsidiary Company of such Company subject to its disclosure by the Company in the Board"s Report.

None

C) (i) The details of remuneration paid to CMD & Whole-time directors is as given hereunder;

[k½ dksbZ Hkh funs'kd ftl dEiuh ls dksbZ deh'ku izkIr gksrk gS vkSj tks dEiuh dk izca/k funs'kd ;k iw.kZdkfyd funs'kd gS] mDr dEiuh dh fdlh Hkh /kkfjr dEiuh ;k vuq"kaxh dEiuh ls dksbZ ikfjJfed ;k deh'ku izkIr djsxk] c'krsZ bldk izdVhdj.k dEiuh }kjk cksMZ dh fjiksVZ esa fd;k x;k gksA

dksbZ ugha

x½ (i) lh,eMh vkSj iw.kZdkfyd funs'kdksa dks vnk fd, x, ikfjJfed dk C;kSjk uhps fn, x, vuqlkj gS%

(Amount in `)

funs'kdksa dk osrudiReCtoR's salaRY¼vizSy'14 ls ekpZ'15½(april'14 to Mar'15)

Ø-la-s.no.

,l-vkj- la[;ks.R. no.

ukenaMe

osrusalaRY

Hkfo"; fuf/k@isa'ku va'knku

PF/Pension Cont.

dqytotal

1 012360 Jh ,-ds- lDlsukSh. A.K. Saxena

1980321 95331 2075652

2 013366 Jh dqynhi flagSh. Kuldip Singh

1518950 72120 1591070

3 013331 Jh lqtk; cuthZSh. Sujay Banarji

1045238 50988 1096226

dqyTotal

4544509 218439 4762948

(ii) Details of fixed component and performance linked incentives along with the performance criteria;

NIL

(iii) Stock option details, if any, and whether the same has been issued at a discount as well as the period over which accrued and over which exercisable.

NIL

(ii) fu"iknu ds ekinaMksa ds lkFk lkFk fu;r ?kVd vkSj fu"iknu lac) izksRlkgu jkf'k;ksa dk C;kSjk%

'kwU;

(iii) LVkWd fodYi dk C;kSjk] ;fn dksbZ gks] vkSj D;k ;s fdlh NwV ij tkjh fd;k x;k gS vkSj lkFk gh og vof/k ftlesa ;g mikftZr gqvk gks vkSj ftlesa ;g iz;ksT; gqvk gksA

'kwU;



35

20. secretarial audit Report The 1st Secretarial Audit of the Company was conducted by M/s. Jayant Gupta & Associates, Practicing Company Secretaries. Their report is annexed to the Board"s report.

It has been reported that during the year the Company has provided unsecured loans to Industrial Credit Company Limited, a wholly owned subsidiary company, by way of day to day operational expenses borne for and on their behalf as the subsidiary company is not transacting any business. Further these related party transactions were to be approved by the Board of Directors and its Committees.

Reply of the Company:

The requisite approval was taken in the Board Meeting held on 15th May, 2015

21. Risk Management policyThe Risk Management Policy of the Company was approved in the 401st Board Meeting held on 19th April, 2012.

22. Renewal of iRdai RegistrationWith the passing of Insurance Amendment Bill by both the houses of parliament in March, 2015, the requirement of issuing Annual Certificate of Renewal of License by IRDAI was done away with.

23. directors" Responsibility statementWe confirm that

(a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period;

20- lfpok;yh ys[kk ijh{kk fjiksVZ

dEiuh dh igyh lfpoky;h ys[kk ijh{kk eSllZ t;ar xqIrk ,aM ,lksf'k,V~l] is'ksoj dEiuh lfpoksa }kjk dh xbZ FkhA budh fjiksVZ cksMZ dh fjiksVZ ds lkFk layXu gSA

lwfpr fd;k x;k gS fd o"kZ ds nkSjku dEiuh us] viuh vksj ls fnu izfrfnu izpkyfud O;;ksa ds ek/;e ls] viuh iw.kZ LokfeRo okyh vuq"kaxh dEiuh] baMLVzh;y ØsfMV dEiuh fyfeVsM dks vizR;kHkwr _.k iznku fd, gSa] D;ksafd vuq"kaxh dEiuh dksbZ dkjksckj ugha dj jgh gSA blds vfrfjDr bu lacaf/kr i{kdjk laO;ogkjksa dks funs'kd eaMy vkSj bldh lfefr;ksa }kjk vuqeksfnr fd;k tkuk FkkA

dEiuh dk mRrj%

visf{kr vuqeksnu fnukad 15 ebZ] 2015 dks vk;ksftr cksMZ dh cSBd esa fy;k x;k FkkA

21- tksf[ke izca/ku uhfr dEiuh dh tksf[ke izca/ku uhfr fnukad 19 vizSy] 2012

dks vk;ksftr cksMZ dh 401oha cSBd esa vuqeksfnr dh xbZ FkhA

22- vkbZvkjMh,vkbZ iathdj.k dk uohdj.k ekpZ] 2015 esa laln ds nksuksa lnuksa }kjk chek la'kks/ku

fo/ks;d ikfjr fd, tkus ls] vkbZvkjMh,vkbZ }kjk ykblsal ds uohdj.k dk okf"kZd izek.k i= tkjh djus dh vis{kk lekIr dj nh xbZA

23- funs'kdksa ds nkf;Ro laca/kh fooj.k ge iqf"V djrs gSa fd

¼d½ okf"kZd ys[kksa dks rS;kj djus esa] egRoiw.kZ fopyuksa ls lacaf/kr mi;qDr Li"Vhdj.k ds lkFk lkFk iz;ksT; ys[kkdj.k ekunaMksa dk vuqlj.k fd;k x;k FkkA

¼[k½ funs'kdksa us ,slh ys[kkadu uhfr;ka pquh gSa vkSj mUgsa lrr :i ls ykxw fd;k vkSj ,sls fu.kZ; rFkk vuqeku yxk, tks fd mfpr vkSj U;k;laxr Fks rkfd foRrh; o"kZ ds var esa daiuh ds dkedkt dh fLFkfr vkSj foRr o"kZ dh lekfaIr ij daiuh ds dkedkt dks ysdj vkSj ml vof/k esa ykHk gkfu dh ,d ;FkkFkZ vkSj fu"i{k fLFkfr izLrqr dh tk ldsA


(c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) the directors had prepared the annual accounts on a going concern basis; and

(e) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

24. acknowledgementsThe Board of Directors thanks Government of India, Ministry of Finance, Department of Financial Services (Insurance Division), Insurance Regulatory & Development Authority of India (IRDAI), the Principal Director of Commercial Audit and Ex-officio Member, Audit Board – II, Governing Body of Insurance Council (GBIC) and General Insurers" Public Sector Association of India (GIPSA) and other government and regulatory agencies for their valuable guidelines and continuous support provided to the company throughout the year.

The Board of Directors are also grateful to the valued customers. Bankers, agents, surveyors, stakeholders and public at large for the patronage and confidence reposed in the Company.

The Board of Directors places on record their appreciation for the commitment. Sense of involvement and dedication exhibited by each staff member in the overall development and growth of the Company and look forward to the continued support and whole hearted cooperation for the realization of the corporate goals in the year ahead.

For and on behalf of the Board of Directors

dR. a. K. saXenaCHIARMAN-CUM-MANAGING DIRECTOR

Place: New DelhiDate: 15th May, 2015

¼x½ funs'kdksa us daiuh dh ifjlaifRr;ksa dh vfHkj{kk ds fy, vkSj /kks[kk/kM+h vkSj vU; vfu;ferrk,a jksdus vkSj vfHkKkr djus ds mn~ns'; ls bl vf/kfu;e ds izko/kkuksa ds vuqlkj mi;qDr ys[kkadu fjdkWMZ j[kus ds laca/k esa mi;qDr vkSj lehphu /;ku j[kk gSA

¼?k½ funs'kdksa us lquke&izfr"Bku vk/kkj ij okf"kZd ys[ks rS;kj fd, Fks vkSj

¼M+½ funs'kdksa us dEiuh }kjk viukbZ tkuh okyh vkarfjd foRrh; fu;a=.k iz.kkfy;ka fu/kkZfjr dh gSa vkSj ;s vkarfjd foRrh; fu;a=.k i;kZIr gSa vkSj izHkkoh :i ls dke dj jgs gSaA

24- vkHkkjksfDr;ka funs'kd eaMy Hkkjr ljdkj] foRr ea=ky;] foRrh; lsok

foHkkx ¼chek izHkkx½] Hkkjrh; chek fofu;ked ,oa fodkl izkf/kdj.k ¼vkbZvkjMh,vkbZ½] iz/kku okf.kfT;d ys[kk ijh{kk funs'kd vkSj insu lnL;] ys[kk ijh{kk eaMy] chek ijh"kn ds 'kklh fudk; ¼thchvkbZlh½ vkSj Hkkjrh; lkekU; chekdkj lkoZtfud {ks= la?k ¼thvkbZih,l,½ vkSj vU; ljdkjh vkSj fofu;ked ,tsafl;ksa dk o"kZ Hkj dEiuh dks eqgS;k djk, x, ewY;oku ekxZn'kZu vkSj lrr leFkZu ds fy, vkHkkj izdV djrk gSA

funs'kd eaMy vius ewY;oku xzkgdksa] cSadjksa] ,tsaVksa] losZ;jksa] LVsd/kkjdksa vkSj lexz :i ls turk ds Hkh vkHkkjh gS] ftUgksaus dEiuh dks ijJ; fn;k vkSj dEiuh esa viuk fo'okl j[kkA

funs'kd eaMy dEiuh ds lexz fodkl vkSj o`f) esa izR;sd deZpkjh }kjk iznf'kZr izfrc)rk] lekos'ku dh Hkkouk vkSj leiZ.k ds fy, viuh ljkguk fjdkWMZ esa j[krk gS vkSj vkus okys o"kZ esa fuxfer y{;ksa dks iwjk djus ds fy, muds lrr leFkZu vkSj iwjs g`n; ls lg;ksx dh vk'kk djrk gSA

d`rs vkSj funs'kd eaMy dh vksj ls

MkW- ,-ds- lDlsukv/;{k ,oa izca/k funs'kd

LFkku% ubZ fnYyhfnukad% 15 ebZ] 2015



37

lacaf/kr i{k dk ¼ds½ ukename(s) of the related party

laca/k dh izd`frnature of relationship

laO;ogkjksa dh vof/kduration of the transactions

eq[; 'krsZasalient terms

,slh lafonkvksa ;k le>kSrksa ;k laO;ogkjksa ds fy, vkSfpR;Justification for entering into such contracts or arrangements or transactions

cksMZ }kjk vuqeksnu] ;fn dksbZ gks] dh rkjh[k ¼rkjh[ksa½date(s) of approval by the Board, if any

vfxze ds :i esa vnk dh xbZ jkf'kamount paid as advances

os rkjh[ksa ftu ij vke cSBd esa fo'ks"k ladYi ikfjr fd, x, Fks] tSlk fd /kkjk 188 ds izFke ijUrqd ds v/khu visf{kr gSdate on which the special resolution was passed in general meeting as required under first proviso to section 188

lafonk dh izd`frNature of Contract

ykxw ughaN.A.

ykxw ughaN.A.

ykxw ughaN.A.

ykxw ughaN.A.

ykxw ughaN.A.

ykxw ughaN.A.

ykxw ughaNIL

ykxw ughaN.A.

1. details of material contracts or arrangement or transactions at arm"s length basis:

FoRM no. aoC-2(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)

Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of section 188 of the Companies act, 2013 including certain arms length transactions under third proviso thereto

Details of contracts or arrangements or transactions not at arm"s length basis:

Details of contracts or arrangements or transactions not at arm"s length basis for the financial year 01/04/2014 to 31/03/2015: nil

QkWeZ la[;k ,vkslh&2¼vf/kfu;e dh /kkjk 134 dh mi&/kkjk ¼3½ ds [kaM vkSj dEiuh ¼ys[kk½ fu;ekoyh] 2014 ds fu;e 8¼2½ ds vuqlj.k esa½dEiuh vf/kfu;e] 2013 dh /kkjk 188 dh mi&/kkjk ¼1½ esa lanfHkZr lacaf/kr i{kdkjksa ds lkFk dEiuh }kjk dh xbZ lafonkvksa@djkjksa ds C;kSjs ds izdVhdj.k ds fy, izi= ftlesa bl vf/kfu;e ds rhljs ijarqd ds varxZr dfri; nwjh j[kdj fd, tkus okys /kkfjr laO;ogkj 'kkfey gSa tks lafonk,a ;k le>kSrs ;k laO;ogkj fuf'pr nwjh j[kdj ¼vkElZ ySaFk csfll ij½ ugha dh xbZ gSa] mudk C;kSjk%foRr o"kZ 01-04-2014 ls 31-03-2015 rd tks lafonk,a ;k le>kSrs ;k laO;ogkj fuf'pr nwjh j[kdj ¼vkElZ ySaFk csfll ij½ ugha dh xbZ gSa] mudk C;kSjk% 'kwU;

Details of material contracts or arrangement or transactions at arm"s length basis for the financial year 01/04/2014 to 31/03/2015:

1- tks egRoiw.kZ lafonk,a ;k le>kSrs ;k laO;ogkj fuf'pr nwjh j[kdj ¼vkElZ ySaFk csfll ij½ fd, x, gSa] mudk C;kSjk%

foRr o"kZ 01-04-2014 ls 31-03-2015 rd tks egRoiw.kZ lafonk,a ;k le>kSrs ;k laO;ogkj fuf'pr nwjh j[kdj ¼vkElZ ySaFk csfll ij½ fd, x, gSa] mudk C;kSjk%


lacaf/kr i{k dk ¼ds½ ukename(s) of the related party

laca/k dh izd`frnature of relationship

laO;ogkjksa dh vof/kduration of the transactions

lafonkvksa ;k le>kSrksa ;k laO;ogkjksa dh ewY;] ;fn dksbZ gks] lfgr eq[; 'krsZasalient terms of the contracts or arrangements or transactions including the value, if any

cksMZ }kjk vuqeksnu] ;fn dksbZ gks] dh rkjh[k ¼rkjh[ksa½date(s) of approval by the Board, if any

jkf'k (yk[k #i, esa)amount (in inR lacs)

lafonk dh izd`frNature of Contract

bfDoVh fy[kr esa fuos'kInvestment in Equity Instrument

n baMLVzh;y ØsfMV dEiuh fyfeVsMThe Industrial Credit Company Limited

vuq"kaxhSubsidiary

ykxw ughaNot Applicable


fVIi.kh la[;k 1 ns[ksaRefer Note No. 1

5.00

gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsMHealth Insurance TPA of India Ltd.

lg;ksxhAssociates




475.00

bafM;k baVjus'kuy ba';ksjsal ihVhbZ fyfeVsMIndia International Insurance Pte. Ltd

lg;ksxhAssociates




391.10

fn;k x;k vfxzeAdvances given

n baMLVzh;y ØsfMV dEiuh fyfeVsMThe Industrial Credit Company Limited

vuq"kaxhSubsidiary

31 ekpZ] 2015 rdUpto 31st March, 2015

vizR;kHkwrUnsecured


5.83

izkIr ykHkka'kDividend Received

bafM;k baVjus'kuy ba';ksjsal ihVhbZ fyfeVsMIndia International Insurance Pte. Ltd

lg;ksxhAssociates




356.80



39

note:

1. The Industrial Credit Company Limited- is a subsidiary of The Oriental Insurance Company Limited by virtue of GIBNA-1972.

2. Health Insurance TPA of India Ltd- In Principle approval for investment was given at the 411th Board Meeting held on 11th April 2013.

3. India International Insurance Pte., Singapore- Original investment was made on 8th January, 1988 and was followed by Bonus shares and Rights issue

4. The Company sought approval of the Board in its Meeting held on 15th May, 2015.

-Sd/-dr. a. K. saxena

Chairman-cum Managing Director

fVIi.kh%1- n baMLVzh;y ØsfMV dEiuh fyfeVsM & thvkbZch,u,

&1972 ds izHkko ls n vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh vuq"kaxh dEiuh gSA

2- gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsM & fnukad 11 vizSy 2013 dks vk;ksftr cksMZ dh 411oha cSBd esa fuos'k ds fy, lS)kafrd vuqeksnu iznku fd;k x;kA

3- bafM;k baVjus'kuy ba';ksjsal ihVhbZ fyfeVsM] flaxkiqj & ewy fuos'k fnukad 8 tuojh] 1988 dks fd;k x;k vkSj blds ckn cksul 'ks;j vkSj vf/kdkj tkjh fd, x,A

4- dEiuh us fnukad 15 tqykb] 2015Z dks vk;ksftr cSBd esa cksMZ dk vuqeksnu ekaxkA

g-MkW- ,-ds- lDlsuk

v/;{k ,oa izca/k funs'kd


QkWeZ la[;k ,ethVh-9FoRM no. Mgt-9okf"kZd fjVuZ dk m)j.k

eXtRaCt oF annUal RetURn

fnukad 31 ekpZ] 2015 dks lekIr foRr o"kZ ds vuqlkj[dEiuh vf/kfu;e 2013 dh /kkjk 92¼3½ vkSj dEiuh ¼izca/ku vkSj iz'kklu½ fu;ekoyh] 2014 ds fu;e 12¼1½2]

as on the financial year ended on 31st March, 2015[Pursuant to section92(3) of the Companies Act 2013 and rule 12(1) of the

Companies (Management and Administration) Rules, 2014]i. iathdj.k vkSj vU; fooj.k%

RegistRation and otheR details:i) lhvkbZ,u%

CIN :-U66010DL1947GOI007158

ii) iathdj.k dh rkjh[kRegistration Date

12/9/1947

iii) dEiuh dk ukeName Of The Company

n vksfj,.Vy ba';ksjsal dEiuh fyfeVsMTHE ORIENTAL INSURANCE COMPANY LIMITED

iv) dEiuh dh Js.kh@mi&Js.khCategory/Sub-Category of The Company

ljdkjh dEiuhGovernment Company

v) iathd`r dk;kZy; dk irk vkSj lEiØ fooj.kAddress of the Registered office and contact details

^^vksfj,.Vy gkml**,&25@27 vklQ vyh jksM] fnYyh-110002] VsyhQksu@QSDl% 011&23287204] osclkbV%WWW.ORIENTALINSURANCE.ORG"ORIENTAL HOUSE", A-25/27 ASAF ALI ROAD,DELHI-110002, TEL/FAX: 011-23287204, WEB:WWW.ORIENTALINSURANCE.ORG

vi) D;k lwphc) dEiuh gSWhether listed company

gka@ughaYes/No

ughaNO

vii) iath;d vkSj varj.k vfHkdrkZ] ;fn dksbZ gks] dk uke] irk vkSj lEiØ fooj.kName , Address and Contact details of Registrar and Transfer Agent, if any

ykxw ughaN/A



41

ii. dEiuh dh izeq[k dkjksckjh xfrfof/k;kaPRinCiPal BUsiness aCtivities oF the CoMPanYdEiuh dh dqy VuZvksoj esa 10% ;k blls vf/kd dk ;ksxnku nsus okyh lHkh dkjksckjh xfrfof/k;ksa dk mYys[k fd;k tk,xk%&All the business activities contributing 10% or more of the total turnover of the company shall be stated:-Ø-la-Sl No.

eq[; mRiknksa@lsokvksa dk uke vkSj fooj.kName and Description of main products/services

mRikn@lsok dk ,uvkbZlh dksMNIC Code of the Product/service

dEiuh ds dqy VuZvksoj esa % % to total turnover of the company

1 xSj&thou chekNON-LIFE INSURANCE

6512 100%

23

iii. /kkfjr] vuq"kaxh vkSj lg;ksxh dEifu;ksa dk fooj.k&PaRtiCUlaRs oF holding, sUBsidiaRY and assoCiate CoMPanies-

Ø-la-S. No.

dEiuh dk uke vkSj irkName and Address of The Company

lhvkbZ,u@th,y,uCIN/GLN

/kkfjr@ vuq"kaxh@ lg;ksxhHolding/Subsidiary/Associate

/kkfjr 'ks;jksa dk %% of Shares Held

iz;ksT; /kkjkApplicable Section

1 n baMLVzh;y ØsfMV dEiuh fyfeVsMirk% ^^vksfj,.Vy gkml**,&25@27 vklQ vyh jksM] fnYyh-110002 THE INDUSTRIAL CREDIT COMPANY LIMITED REGD ADDRESS "ORIENTAL HOUSE" , A-25/27 ASAF ALI ROAD, DELHI-110002

U65921DL1930GOI000216 vuq"kaxhSUBSIDIARY

100% /kkjk 2¼87½SEC 2(87)

2 bafM;k baVjus'kuy ba';ksjsal ihVhbZ fyfeVsM] flaxkiqjINDIA INTERNATIONAL INSURANCE PTE. LTD., SINGAPORE

lg;ksxhASSOCIATE

20% /kkjk 2¼6½SEC 2(6)

3 gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsMHEALTH INSURANCE TPA OF INDIA

U85100DL2013PLC256581 lg;ksxhASSOCIATE

23.75% /kkjk 2¼6½SEC 2(6)


iv. 'ks;j /kkfjrk i)frshaRe holding PatteRn

¼dqy bfDoVh ds izfr'kr ds :i esa bfDoVh 'ks;j iwath dk C;kSjk½(equity share Capital Breakup as percentage of total equity)i) Js.kh&okj 'ks;j /kkfjrki) Category-wise share holding'ks;j/kkjdksa dh Js.khCategory of shareholders

o"kZ ds izkjaHk esa /kkfjr 'ks;jksa dh la[;kno. of shares held at the beginning of the year

o"kZ ds var esa /kkfjr 'ks;jksa dh la[;kno. of shares held at the end of the year

o"kZ ds nkSjku ifjorZu%%Change during the year

MhesVdemat

okLrfodphysical

dqytotal

dqy 'ks;jksa dk %% of total share

MhesVdemat

okLrfodphysical

dqytotal


d- izeksVjA. Promoters

¼1½ Hkkjrh;(1) Indian

d½ ,dy@,p;w,Qa) Individual/HUF

0 0 0 0 0

[k½ dsanzh; ljdkjb) Central Govt.

150000000 150000000 100 200000000 200000000 100 0

x½ jkT; ljdkj ¼ljdkjsa½c) State Govt(s)

0 0 0 0 0

?k½ fuxfer fudk;d) Bodies Corp.

0 0 0 0 0

M+½ cSad@foRrh; laLFkkue) Banks/ FI

0 0 0 0 0

p½ dksbZ vU;f ) Any Other

0 0 0 0 0

mi&;ksx ¼d½¼1½%&Sub-total (A) (1):-

150000000 150000000 100 200000000 200000000 100 0

¼2½ fons'kh(2) Foreign



43

d½ ,uvkjvkbZ- ,dya) NRIs- Individuals

0 0 0 0 0

[k½ vU;&,dyb) Other-Individuals

0 0 0 0 0

x½ fuxfer fudk;c) Bodies Corp.

0 0 0 0 0

?k½ cSad@foRrh; laLFkkud) Banks/FI

0 0 0 0 0

M+½ dksbZ vU;e) Any Other..

0 0 0 0 0

mi&;ksx ¼d½¼2½%&Sub-total (A) (2):-

0 0 0 0 0

izeksVjksa dh dqy 'ks;j/kkfjrkTotal Shareholding of Promoterd = (d) (1)+(A)(2)A= (A) (1)+(A)(2)

150000000 150000000 100 200000000 200000000 100 0

[k- lkoZtfud 'ks;j/kkfjrkB. Public Shareholding

1- laLFkk,a1. Institutions

d½ E;qpqvy QaMa) Mutual Funds

0 0 0 0 0

[k½ cSad@foRrh; laLFkkub) Banks/FI

0 0 0 0 0

x½ dsanzh; ljdkjc) Central Govt

0 0 0 0

?k½ jkT; ljdkj ¼ljdkjsa½d) State Govt(s)

0 0 0 0 0

M+½ m|e iwath fuf/k;kae) Venture Capital Funds

0 0 0 0

p½ chek dEifu;kaf ) Insurance Companies

0 0 0

N½ ,QvkbZvkbZg) FIIs

0 0 0


t½ fons'kh m|e iwath fuf/k;kah) Foreign Venture Capital Funds

0 0 0

>½ vU; ¼fofufnZ"V djsa½i) Others (Specify)

0 0 0

mi&;ksx ¼[k½ ¼1½%&Sub-total (B) (1):-

0 0 0 0 0 0 0

2- xSj&laLFkk,ad½ fuxfer fudk;a) Bodies Corp.

i) Hkkjrh;i) Indian

0 0 0

ii) ikjleqnzhii) Overseas

0 0 0

[k½ O;fDrxrb) Individuals

i½ #- 1 yk[k rd dh lkadsfrd 'ks;j iwath /kkfjr djus okys ,dy 'ks;j/kkjdi) Individual Shareholders holding nominal share capital upto Rs. 1 Lakh

0 0

ii) #- 1 yk[k ls vf/kd lkadsfrd 'ks;j iwath /kkfjr djus okys ,dy 'ks;j/kkjdii) Individual Shareholders holding nominal share capital in excess of Rs. 1 Lakh

x½ vU; ¼fofufnZ"V djsa½c) Others (specify)

mi&;ksx¼[k½¼2½%&Sub-total (B) (2):-

0 0 0 0 0 0 0 0

dqy lkoZtfud 'ks;j/kkfjrk Total Public Shareholding



45

[k=¼[k½¼1½+¼[k½¼2½ 0 0 0 0 0 0 0 0

x- thMhvkj vkSj ,Mhvkj ds fy, dLVksfV;uksa }kjk /kkfjr 'ks;jC. SHARES HELD BY CUSTODIAN FOR GDRs & ADRs

0 0 0 0 0 0

dqy ;ksx¼[k+[k+x½* 150000000 150000000 100 0 200000000 200000000 100 0

* o"kZ ds nkSjku] #-10@& izR;sd ds iw.kZ iznRr 5]00]00]000 cksul 'ks;j] ftudk dqy ;ksx #- 50 djksM+ gS] tkjh vkSj vkoafVr fd, x,A* During the year, 5,00,00,000 fully paid bonus shares of Rs. 10/- each aggregating to Rs. 50 crores were issued and allotted.

ii) izeksVjksa dh 'ks;j/kkfjrkii) Shareholding of Promoters

Ø- la-sl no.

'ks;j/kkjdksa dh Js.khshareholders name

o"kZ ds izkjaHk esa /kkfjr 'ks;jksa dh la[;kshareholding at the beginning of the year

o"kZ ds var esa /kkfjr 'ks;jksa dh la[;kshareholding at the end of the year

o"kZ ds nkSjku ifjorZu %% change in shareholding during the year

'ks;jksa dh la[;kno. of shares

dEiuh ds dqy 'ks;jksa dk % % of total shares of the company

dqy 'ks;jksa esa ls izfrHkwr@ _.kxzLr 'ks;jksa dk %% of shares Pledged/encumbered to total shares


dEiuh ds dqy 'ks;jksa dk % % of total shares of the company

dqy 'ks;jksa esa ls izfrHkwr@ _.kxzLr 'ks;jksa dk %% of shares Pledged/encumbered to total shares

1 Hkkjr ds jk"Vzifr

PRESIDENT OF INDIA

150000000 100 0 200000000 100 0 0

23

Total 150000000 100 0 200000000 100 0 0

iii) izeksVjksa dh 'ks;j/kkfjrk esa ifjorZuiii) Change in Promoters' Shareholding


Ø- la-sl no.

o"kZ dh 'kq#vkr esa 'ks;j/kkfjrkshareholding at the beginning of the year

o"kZ ds nksjku lafpr 'ks;j/kkfjrkCumulative shareholding during the year


dEiuh ds dqy 'ks;jksa dk %% of total shares of the company



o"kZ dh 'kq#vkr esaAt the beginning of the year

150000000 100 200000000 100

fnukad 12 vxLr] 2015 dks vkoafVr cksul 'ks;jksa dh otg ls o"kZ ds nkSjku izeksVjksa dh 'ks;j/kkfjrk esa o`f)Increase in Promoters Shareholding during the year due to Bonus shares allotted on 12th August, 2015

50000000 100

o"kZ ds var esaAt the End of the year

200000000 100 200000000 100

iv) 'kh"kZ nl 'ks;j/kkjdksa dh 'ks;j/kkfjrk i)fr ¼funs'kdksa] izeksVjksa vkSj thMhvkj vkSj ,Mhvkj ds /kkjdksa dks NksM+dj½%iv) shareholding Pattern of top ten shareholders (other than directors, Promoters and holders of gdRs and adRs):

Ø- la-sl no.

o"kZ dh 'kq#vkr esa 'ks;j/kkfjrk

shareholding at the beginning of the year

o"kZ ds nksjku lafpr 'ks;j/kkfjrk

Cumulative shareholding during the year

'kh"kZ 10 'ks;j/kkjdksa esa ls izR;sd ds fy,For each of the toP 10 shareholders




dEiuh ds dqy 'ks;jksa dk %%of total shares of the company

1 ukeName


0 0 0 0

o`f)@deh ds dkj.kksa ¼vFkkZr~ vkoaVu@ varj.k@cksul@LoSV bfDoVh vkfn½ dks fofufnZ"V djrs gq, o"kZ ds nkSjku rkjh[k okj o`f)@deh%Date wise Increase/Decrease in Share holding during the year specifying the reasons for increase/decrease(e.g. allotment/transfer/bonus/sweat equity etc):

0 0 0 0

o"kZ ds var esa ¼;k i`FkDdj.k dh rkjh[k ij] ;fn i`FkDdj.k o"kZ ds nkSjku gqvk gks½ At the End of the year (Or on the date of seperation, if seperated during the year)

0 0 0 0



47

Ø- la-sl no.

o"kZ dh 'kq#vkr esa 'ks;j/kkfjrko"kZ ds nkSjku lafpr 'ks;j/kkfjrk

shareholding at the beginning of the yearCumulative shareholding during the year

'kh"kZ 10 'ks;j/kkjdksa esa ls izR;sd ds fy,For each of the toP 10 shareholders





1 ukeName


0 0 0 0

o`f)@deh ds dkj.kksa ¼vFkkZr~ vkoaVu@ varj.k@cksul@LoSV bfDoVh vkfn½ dks fofufnZ"V djrs gq, o"kZ ds nkSjku rkjh[k okj o`f)@deh%Date wise Increase/Decrease in Share holding during the year specifying the reasons for increase/decrease(e.g. allotment/transfer/bonus/sweat equity etc):

0 0 0 0

o"kZ ds var esa ¼;k i`FkDdj.k dh rkjh[k ij] ;fn i`FkDdj.k o"kZ ds nkSjku gqvk gks½At the End of the year (Or on the date of seperation, if seperated during the year)

0 0 0 0

v) funs'kdksa vkSj izeq[k izca/kdh; dkfeZdksa (ds,eih) dh 'ks;j/kkfjrkv) shareholding of directors and Key Managerial Personnel:izR;sd funs'kd vkSj ds,eih ds fy,For each of the directors and KMP



o"kZ ds nkSjku lafpr 'ks;j/kkfjrk


'ks;jksa dh la[;k

no. of shares

dEiuh ds dqy 'ks;jksa dk %% of total

shares of the company

'ks;jksa dh la[;k

no. of shares

dEiuh ds dqy 'ks;jksa dk %

% of total shares of the company


0 0 0 0

o`f)@deh ds dkj.kksa (vFkkZr~ vkoaVu@ varj.k@cksul@LoSV bfDoVh vkfn) dks fofufnZ"V djrs gq, o"kZ ds nkSjku rkjh[k okj o`f)@deh%Date wise Increase / Decrease in Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc):

0 0 0 0


0 0 0 0


izR;sd funs'kd vkSj ds,eih ds fy,For each of the directors and KMP





'ks;jksa dh la[;k

no. of shares


shares of the

company





0 0

o`f)@deh ds dkj.kksa ¼vFkkZr~ vkoaVu@ varj.k@cksul@LoSV bfDoVh vkfn½ dks fofufnZ"V djrs gq, o"kZ ds nkSjku rkjh[k okj o`f)@deh%Date wise Increase / Decrease in Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc):

0 0 0 0


0 0

v. _.kxzLrrkindeBtednesscdk;k@mifpr fdarq Hkqxrku ds fy, vns; C;kt lfgr dEiuh dh _.kxzLrrkindebtedness of the Company including interest outstanding/ accrued but not due for payment

tek jkf'k;ksa dks NksM+dj

izR;kHkwr _.ksecured

loans excluding

deposits

vizR;kHkwr _.k

Unsecured loans

tek jkf'k;kadeposits

dqy _.kxzLrrk

total indebtedness

foRr o"kZ ds izkjEHk esa _.kxzLrrkIndebtedness at the beginning of the financial yeari) ewy /kujkf'ki) Principal Amount

0 0 0 0

ii) ns; fdarq vnk u fd;k x;k C;ktii) Interest due but not paid

0 0 0 0

iii) mifpr fdarq vns; C;ktiii) Interest accrued but not due

0 0 0 0

dqy (i+ii+iii)Total (i+ii+iii)

0 0 0 0

foRr o"kZ ds nkSjku _.kxzLrrk esa ifjorZuChange in indebtedness during the financial year



49

* tek* Addition

0 0 0 0

* ?kVk* Reduction

0 0 0 0

fuoy ifjorZuNet Change

0 0 0 0

foRr o"kZ ds var esa _.kxzLrrkIndebtedness at the end of the financial yeari) ewy /kujkf'ki) Principal Amount

0 0 0 0


0 0 0 0

iii) mifpr fdarq vns; C;ktiii) Interest accrued but not due

0 0 0 0

dqy (i+ii+iii)Total (i+ii+iii)

0 0 0 0

VI. funs'kdksa vkSj izeq[k izca/kdh; dkfeZdksa dk ikfjJfedReMUneRation oF diReCtoRs and KeY ManageRial PeRsonneld- izca/k funs'kd] iw.kZdkfyd funs'kdksa vkSj@;k izca/kd dk ikfjJfed:A. Remuneration to Managing Director, Whole-time Directors and/or Manager:

sl no.

ikfjJfed dk fooj.kParticulars of Remuneration

izca/k funs'[email protected] funs'kd@izca/kd dk ukename of Md/Wtd/Manager

total amount

1 2 3MkW- ,- ds- lDlsukdr a. K saXena

Jh dqynhi flagsh KUldiP singh

Jh lqtk; cuthZsh. sUJaY BanaRJi

1 ldy osruGross salary¼d½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼1½ esa fufgr izko/kkuksa ds vuqlkj osru(a) Salary as per provisions contained in section 17(1) of the Income Tax Act 1961

2075652 1591070 1096226 4762948

¼[k½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼2½ds v/khu iwokZis{kkvksa dk ewY;(b) Value of perquisites u/s 17(2) of the Income Tax Act 1961

175594 141537 158231 475362

¼x½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼3½ ds v/khu osru ds cnys ykHk(c) Profits in lieu of salary u/s 17(3) of the Income Tax Act 1961

0

2 LVkWd fodYiStock Option

0

3 LoSV bfDoVhSweat Equity

0


4 deh'kuCommission&ykHk ds % ds rkSj ij - as % of Profit

0

&vU;] fofufnZ"V djsaothers, specify

0

5 vU;] dì;k fofufnZ"V djsaOthers, please specify

0

Total (A) 2251246 1732607 1254457 5238310Ceiling as per the Act

[k- vU; funs'kdksa dk ikfjJfed:B. Remuneration to other directors:Ø-la-sl no.



dqy jkf'ktotal

amount1 2 3 5

1. Lora= funs'kdIndependent Directors

sMt. KaUshalYa RoY

sh viJaY gaRg sh aMaRdeeP singh Bali

*cksMZ dh lfefr;ksa dh cSBd esa mifLFkr gksus ds fy, 'kqYd*Fee for attending Board committee meetings

168000 65000 80000 313000

*deh'ku*Commission

0

*vU;] dì;k fofufnZ"V djsa*Others, please specify

0

dqy ¼1½Total (1)

168000 65000 80000 313000

2. vU; xSj&dk;Zikyd funs'kdOther Non-Executive Directors

sh shYaM lal Bansal

dR. n. sRinivasa Rao sh JatindeRBiR singh

*cksMZ dh lfefr;ksa dh cSBd esa mifLFkr gksus ds fy, 'kqYd*Fee for attending Board committee meetings

0 0 0 0

*deh'ku*Commission

0


0

dqy ¼2½ Total (2)

0 0 0 0

dqy ([k)=(1+2)Total (B)=(1+2)

168000 65000 80000 313000

dqy izca/kdh; ikfjJfedTotal Managerial Remuneration

5551310

vf/kfu;e ds vuqlkj lhekCeiling as per the Act



51

x- izca/k funs'[email protected] funs'kd@izca/kd ls vU; izeq[k izca/kdh; dkfeZdksa dks ikfjJfedC. Remuneration to Key Managerial Personnel other than Md/Manager/WtdØ- la-sl. no.


izeq[k izca/kdh; dkfeZdKey Managerial Personnel

lhbZvksCeo

dEiuh lfpoCoMPanY

seCRetaRY

eq[; foRr vf/kdkjh

CFo

dqytotal

1 ldy osruGross Salary¼d½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼1½ esa fufgr izko/kkuksa ds vuqlkj osru(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961

1217270 1405171 2622441

¼[k½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼2½ ds v/khu iwokZis{kkvksa dk ewY;(b) Value of perquisites u/s 17(2) of the Income -tax Act, 1961

38306 122843 161149

¼x½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼3½ ds v/khu iwokZis{kkvksa dk ewY;(c) Profits in lieu of salary u/s 17(3) of the Income Tax Act 1961

0


0


0

4 deh'kuCommission&ykHk ds % ds rkSj ij - as % of Profit

0

&vU;] fofufnZ"V djsaothers, specify

0

5 vU;] dì;k fofufnZ"V djsa 0

dqyTotal

0 1255576 1528014 2783590


vf/kdkfj;ksa dh 'kkfLr;ka@naM@dEikmaM%Penalties/ PUnishMent/ CoMPoUnding oF oFFenCes:izdkjtype

dEiuh vf/kfu;e dh /kkjksection of the Companies act

laf{kIr fooj.kBrief description

yxkbZ xbZ 'kkfLr;ksa@naM@ dEikmaM 'kqYd dk C;kSjkdetails of Penalty/ Punishment/Compounding fee imposed

izkf/kdj.k [vkjMh@ ,ulh,yVh@ U;k;ky;]authority [Rd/nClt/CoURt]

dh xbZ vihy] ;fn dksbZ gks ¼C;kSjk nsa½appeal made if any (give details)

d- dEiuhA. COMPANY'kkfLrPenalty

dEiuh vf/kfu;e ds v/khu dksbZ 'kkfLr ugha yxkbZ xbZNo Penalty imposed under Companies Act

naMPunishmenttCrhCompounding[k- funs'kdB. DIRECTORS'kkfLrPenalty

dEiuh vf/kfu;e ds v/khu dksbZ 'kkfLr ugha yxkbZ xbZNo Penalty imposed under Companies Act

naMPunishmenttCrhCompoundingx- vU; pwddrkZ vf/kdkjhC. OTHER OFFICERS IN DEFAULT'kkfLrPenalty

No Penalty imposed under Companies Act

naMPunishment'kkfLrCompounding



53

anneXUReannUal RePoRt on CsR aCtivities to Be inClUded in the BoaRd's RePoRt1. a brief outline of the Company's CsR

Policy including overview of projects or programs proposed to be undertaken and a reference in the web-link to the CsR Policy and projects or programs.The CSR Policy of the Company was approved by the CSR Sub committee of the Board in its meeting held on 23rd September, 2014 and Board of Directors vide circular resolution no. B-8/2014 dated 25th September, 2014.

The CSR Policy is in alignment with the Vision of the Company and focuses on the benefits of society at large and those who need special assistance.

The CSR Policy focuses on CSR Initiatives which create a community goodwill for ORIENTAL INSURANCE and help to build a positive and socially responsible image of the Company.

The Thrust Area selected in the Policy are in compliance with the Schedule VII of the Company's Act, 2013. All the project proposed are also based on the Schedule VII of the Company's Act.

The guidelines for operational modalities have been spelt out in the CSR Policy. The CSR Strategy and Annual Action Plan are worked out based on the CSR Policy.

CSR Strategy document and Annual Action Plan was also approved by CSR Sub-Committee on 2nd CSR Committee Meeting held on 23rd September, 2014.

The Company created a web link under 'CSR' head on the company's web portal home page "www.orientalinsurance.org.in'

2. the composition of the CsR Committee.

The CSR Committee, a sub-committee of

vuqca/kcksMZ dh fjiksVZ esa 'kkfey fd, tkus ds fy, lh,lvkj xfrfof/k;ksa ij okf"kZd fjiksVZ

1- dEiuh dh lh,lvkj uhfr dh laf{kIr :ijs[kk ftlesa vkjaHk dh tkus ds fy, izLrkfor ifj;kstukvksa ;k dk;ZØeksa dk voyksdu vkSj lh,lvkj uhfr vkSj ifj;kstukvksa ;k dk;ZØeksa ds osc fyad esa lanHkZ 'kkfey gSA

dEiuh dh lh,lvkj uhfr uhfr dks cksMZ dh lh,lvkj mi lfefr }kjk fnukad 23 flracj] 2014 dks vk;ksftr viuh cSBd esa rFkk funs'kd eaMy }kjk fnukad 25 flracj] 2014 ds ifji= ladYi la[;k B-8/2014 }kjk vuqeksfnr fd;k x;k FkkA

lh,lvkj uhfr dEiuh ds fotu ds vuq:i gS vkSj blesa cM+s iSekus ij lekt vkSj mu yksxksa ds ykHkksa ij /;ku dsfUnzr fd;k x;k gS ftUgas fo'ks"k lgk;rk dh vko';drk gSA

lh,lvkj uhfr dk Qksdl lh,lvkj laca/kh igyksa ij gS tks vksfj,.Vy ba';ksjsal ds fy, lkeqnkf;d lk[k l`ftr djrh gSa vkSj dEiuh dh ldkjkRed vkSj lkekftd n`f"Vdks.k mRrjnk;h Nfo fufeZr djus esa lgk;rk djrs gSaA

uhfr esa ftu {ks=ksa ij tksj fn;k x;k gS os dEiuh vf/kfu;e] 2013 dh vuqlwph VII ds vuqikyu esa gSaA lHkh izLrkfor ifj;kstuk,a dEiuh vf/kfu;e dh vuqlwph VII ij Hkh vk/kkfjr gSaA

lh,lvkj uhfr esa izpkyfud dk;Zfof/k;ksa ds fy, fn'kkfunsZ'k iz[;kfir fd, x, gSaA lh,lvkj j.kuhfr vkSj okf"kZd dkjZokbZ ;kstuk lh,lvkj uhfr ds vk/kkj ij rS;kj dh xbZ gSaA

lh,lvkj j.kuhfr nLrkost vkSj okf"kZd dkjZokbZ ;kstuk dks lh,lvkj lfefr }kjk fnukad 23 flracj] 2014 dks vk;ksftr viuh 2ljh cSBd esa Hkh vuqeksfnr fd;k x;k FkkA

dEiuh us vius osc iksVZy ds gkse ist "www.

orientalinsurance.org.in'' ij ^lh,lvkj^ ds v/khu ,d osc fyad l`ftr fd;k gSA


the Board of Directors was formed in Board Meeting No. 419th held on 24th April, 2014 as per guidelines in Section 135 of Companies Act, 2013 consisting of the following :S. No.

Constitution of the Committee

Name of the Committee member

1. Non-Officio Director Ms. Kaushalya Roy, Chairman of the Committee

2. Non-Officio Director Sh. AS Bali, Member3. Director * Sh. S L Bansal, Member4. Whole time Director Sh. Kuldip Singh,

Member

Dr. A.K. Saxena,Chairman-cum-Managing Director, Dr. N. Srinivasa Rao, Director, Sh. Vijay Garg, Director and Sh. Niraj Kumar and General Manager (CSR) are permanent invitees to the Committee.* Shri S L Bansal ceased to be a Committee member consequent to ending of his term as Directors' of Company's Board on 30.09.2014 after attaining age of superannuation.

3. average net profit of the company for last three financial years.

2- lh,lvkj lfefr dh lajpuk

funs'kd eaMy dh ,d mi&lfefr] lh,lvkj lfefr dk xBu dEiuh vf/kfu;e] 2013 dh /kkjk 135 esa fufgr fn'kkfunsZ'kksa ds vuqlkj fnukad 24 vizSy] 2014 dks vk;ksftr funs'kd eaMy dh 419oha cSBd esa fd;k x;k Fkk] ftuesa fuEu 'kkfey gSa%

Ø-la- lfefr dk xBu lfefr ds lnL;ksa ds uke

1. insu funs'kd lqJh dkS'kY;k jkW;] lfefr dh v/;{k

2. insu funs'kd Jh ,,l ckyh] lnL;3. funs'kd * Jh ,l-,y- caly]

lnL;4. iw.kZdkfyd funs'kd Jh dqynhi flag] lnL;

MkW- ,-ds- lDlsuk] v/;{k ,oa izca/k funs'kd] MkW- ,u- Jhfuokl jko] funs'kd] Jh fot; xxZ] funs'kd vkSj Jh uhjt dqekj vkSj egkizca/kd ¼lh,lvkj½ bl lfefr ds LFkk;h vkeaf=r lnL; gSaA Jh ,l ,y caly vf/kokf"kZrk dh vk;q gksus ds ckn fnukad 30-09-2014 dks dEiuh ds cksMZ esa funs'kd ds :i esa vius dk;Zdky dh lekfIr ds ifj.kkeLo:i lfefr ds lnL; ugha jgsA

3- fiNys rhu foRrh; o"kksZa ds fy, dEiuh dk vkSlr fuoy ykHk

2011-12 2012-13 2013-14 total¼yk[k #- esa½(Rs. in lacs)

¼yk[k #- esa½(Rs. in lacs)



36634 79474 66073 182181?kVk,a% ikjleqnzh; izpkyuksa ls ykHkLess : Profit from overseas operations

1475 4906 6311 12692

?kVk,a% ¼foÙkh; o"kZ 2011&12 ds foÙk o"kZ 2013&14 ds fy,½ igys ls gh lh,lvkj esa yxh daifu;ksa ls ykHkka'k vk;Less : Dividend income from Companies already engaged in CSR (For FY's 2011-12 to 2013-14)

50635

vafre ifj.kkeFINAL RESULT

118854

rhu o"kZ dk dqy ifj.kkeTotal result of three FY's

118854

rhu o"kZ dk vkSlr ifj.kkeAverage Result of Three FY's

39618

fiNys rhu o"kks-Z dk vkSlru nks %Two % of Average result of last three years

792



55

Ø- la-s. no

fpfg~ur dh xbZ lh,lvkj ifj;kstuk ;k xfrfof/kCsR Project or activity identified

og lsDVj ftlesa ifj;kstuk vkrh gSsector in which the Project is covered.

ifj;kstuk ;k dk;ZØe 1- LFkkuh; {ks= ;k vU;2- og tkT; vkSj ftyk fofufnZ’V djsa ftlesa ifj;kstuk,a ;k dk;ZØe gkFk esa fy, x,Projects or programs 1. local area or other 2. specify the state and district where projects or programs was undertaken

jkf'k ifjO;;¼ctV½ifj;kstuk ;k dk;ZØeok ¼yk[k esa½amount outlay (budget) project or programs wise (in lacs)

ifj;kstukvksa ;k dk;ZØeksa ij [kpZ dh xbZ jkf'kmi&'kh’kZ%1- ifj;kstukvksa ;k dk;ZØeksa ij izR;{k O;;2-mijh [kpsZ¼yk[k esa½amount spent on the projects or programs sub-heads: 1. direct expenditure on projects or programs 2. overheads (in lacs)

izfrosnu vof/k rd lafpr O;;Cumulative expenditure upto to the reporting period

[kpZ dh xbZ jkf'k%izR;{k ;k dk;kZUo;u ,tsalh ds ek/;e ls¼yk[k esa½amount spent: direct or through impleme nting agency(in lacs)

1. “kS{kf.kd nkSjseducational trips

Delhi State 10 7.50 7.50 7.50

2. LoPN fo|ky; vfHk;ku esa ;ksxnkuContribution to Swacch Vidyalaya Campaign

150 150 150 150

3. tEew d”ehj ds ck<+ ihfM+rksa ds fy, ;ksxnkuContribution to J & K Flood Victims

Jammu 100 100 100 100

4. Prescribed CsR expenditure (two per cent of the amount as in item 3 above)Rs. 7.92 crores was the sanctioned CSR Budget for the Financial Year 2014-15.

5. details of CsR spent during the financial year.a. Total amount to be spent for the

financial year: Rs. 7.92 croresb. Amount unspent, if any: Out of total

approved amount of Rs. 691 lakhs an amount of Rs. 231.50 lakhs could not be spent till 31.03.2015 as the proposals were under process. An amount of Rs.101 lakhs was not allocated for any specific proposal.

c. Manner in which the amount spent during the financial year is detailed below :

4- fu/kkZfjr lh,lvkj O;; ¼mi;qDr en 3 esa fn, vuqlkj jkf'k dk nks izfr'kr½

foRr o"kZ 2014-15 ds fy, lh,lvkj laLohd`r ctV #- 7-92 djksM+ FkkA

5- pkyw o"kZ ds nkSjku lh,lvkj [kpZ dk C;kSjkd- foRr o"kZ ds fy, [kpZ dh tkus okyh dqy jkf'k%

#- 7-92 djksM+

[k- [kpZ u dh xbZ jkf'k] ;fn dksbZ gks% #- 691 yk[k dh dqy vuqeksfnr jkf'k esa ls #- 231-50 yk[k dh jkf'k 31-03-2015 rd [kpZ ugha dh tk ldh D;ksafd izLrko izfØ;k/khu FksA #- 701 yk[k dh jkf'k fdlh fofufnZ"V izLrko ds fy, vkoafVr ugha dh xbZA

x- foRrh; o"kZ ds nkSjku ftl rjhds ls jkf'k [kpZ dh xbZ mldk C;kSjk uhps fn;k x;k gS%


4. vka/kz izns”k eq[;ea=h jkgr fuf/k esa] gqn gqn rwQku ;ksxnkuContribution to Andhra Pradesh CM Relief Fund, HUD HUD Cyclone

Andhra Pradesh

100 100 100 100

5. vle vkSj es?kky; jkgr fuf/k esa ;ksxnkuContribution to Assam and Meghalaya Relief Fund

Assam Meghalaya

50 50 50 50

6. LoPN xaxk fuf/kClean Ganga Fund

50 50 50 50

1. *o`)kJeksa esa ;ksxnku*Contribution to old Age homes

Delhi 25 0 0 0

8. *dqM+k?kjksa ds fy, ;ksxnku*Contribution to Garbage bins

Delhi 50 0 0 0

9. ih,etsMhokbZ esa ;ksxnku & chek tkx:drk dk;ZØe vk;ksftr djukContribution to PMJDY- Holding of Insurance Awareness Program

50 2 2 2

10. *,uvkbZ, iq.ks esa ;ksxnku*Contribution to NIAPune

Maharashtra 106 0 0 0

dqyTOTAL

691 459.5 459.5 459.5

dk;kZUo;u ,tsalh dk C;kSjk nsa% ykxw ughaGive details of implementing agency: Not Applicable* - izLrko cksMZ dh lh,lvkj lfefr }kjk vuqeksfnr gSa vkSj izfØ;k/khu gSaA* - Proposals are approved by the CSR Committee of the Board and are under process.



57

6. in case the company has failed to spend the two percent of the average net profit of the last three financial years or any part thereof, the company shall provide the reasons for not spending the amount in its Board report.

This being the first year of implementation the CSR Committee approved proposals amounting to Rs. 691 lacs, out of which Rs./ 459.50 lacs was spent. An amount of Rs. 101 lacs remained unallocated. The CSR Committee in its meeting held on 19.03.2015 directed to carry forward the unspent and unallocated amount to next Financial Year.

(amounting to Rs. 231.50 lakhs+101 lakhs = total Rs. 332.50 lakhs)

7. a responsibility statement of the CsR Committee that the implementation and monitoring of CsR Policy, is in compliance with CsR objectives and Policy of the Company.

The CSR Committee states that the implementation and monitoring of CSR Policy, is in compliance with CSR Objectives and Policy of the Company.

(Chief Executive-Offieer or Managing Director or Director)

(Chairman CSR"Committee)(Person specified under clause(d) of sub-section(i) of section 380 of the Act) (Wherever applicable)

6- dEiuh ds fiNys rhu foRrh; o"kksZa ds vkSlr fuoy ykHk dk nks izfr'kr ;k blds Hkkx dks [kpZ djus esa foQy jgus dh fLFkfr esa] dEiuh vius cksMZ izfrosnu esa jkf'k [kpZ u djus dkj.k izLrqr djsxhA

pwafd ;g dk;kZUo;u dk igyk o"kZ gS] vr% lh,lvkj lfefr us #- 691 yk[k dh jkf'k ds izLrko vuqeksfnr fd,] ftlesa ls #- yk[k 459-50 [kpZ fd, x,A #- yk[k dh jkf'k 101 vukoafVr jghA lh,lvkj lfefr us fnukad 19-03-2015 dks vk;ksfgr viuh cSBd esa [kpZ u dh xbZ jkf'k dks vkxs ys tk, tkus vkSj vukoafVr jkf'k dks vxys foRrh; o"kZ esa ys tkus dk funs'k fn;k ¼#- 231-50 yk[k + 101 yk[k = dqy #- 332-50 yk[k½

7- lh,lvkj lfefr dk mRrjnkf;Ro dFku fd lh,lvkj uhfr dk dk;kZUo;u vkSj ekWuhVfjax lh,lvkj ds mn~ns';ksa vkSj dEiuh dh uhfr ds vuqikyu esa gSA

lh,lvkj lfefr mYys[k djrh gS fd lh,lvkj uhfr dk dk;kZUo;u vkSj ekWuhVfjax lh,lvkj ds mn~ns';ksa vkSj dEiuh dh uhfr ds vuqikyu esa gSA

¼eq[; dk;Zdkjh vf/kdkjh ;k izca/k funs'kd ;k funs'kd½ ¼v/;{k lh,lvkj lfefr½

¼vf/kfu;e dh /kkjk 380 dh mi&/kkjk ¼i½ ds [kaM ¼?k½ esa fofufnZ"V O;fDr½ ¼tgka dgha ykxw gks½


JaYant gUPta & assoCiatesCoMPanY seCRetaRies

FoRM no. MR-3Secretarial audit Report (For the Financial Year

ended 31st March, 2015)[Pursuant to Section 204(1) of the Companies

Act, 2013 and Rule No. 9 of the Companies (Appointment and Remuneration of Managerial

Personnel) Rules, 2014]To,the Membersthe oriental insurance Company limiteda-25/27, asaf ali Roadnew delhi 110002

I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by The Oriental Insurance Company Limited (hereinafter called "the Company" / "OICL"). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.

Based on my verification of The Oriental Insurance Company Limited's books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, I hereby report that in my opinion, the Company has, during the audit period covering the Financial Year ended on 31st March, 2015, complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

1. I have examined the books, papers, minute books, forms and returns filed and other records maintained by OICL for the period ended on 31st March, 2015 according to the provisions of:

t;ar xqIrk ,aM ,lksf'k,V~ldEiuh lfpo

QkeZ la[;k ,evkj&3

lfpoky;h ys[kk ijh{kk izfrosnu( fnukad 31 ekpZ] 2015dks lekIr foRr o"kZ ds fy,½ [dEiuh vf/kfu;e] 2013 dh /kkjk 204¼1½ vkSjdEiuh ¼izca/kdh; dkfeZdksa dh fu;qfDr vkSj ikfjJfed½ fu;ekoyh] 2014 ds fu;e la[;k 9 ds vuqlj.k esa

lsok esa]lnL;x.kfn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM,&25@27] vklQ vyh jksM+ubZ fnYyh 110002

eSaus fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM ¼ftls ;gka blds ckn ^^dEiuh^^@^^vksvkbZlh,y^^ dgk x;k gS½ }kjk mRre fuxfer ifjikfV;ksa ds vuqikyu vkSj iz;ksT; lkafof/kd izko/kkuksa ds vuqikyu dh lfpoky;h ys[kk ijh{kk dh gSA lfpoky;h ys[kk ijh{kk ,sls rjhds ls dh xbZ ftlls gesa fuxfer vkpj.kksa@lkafof/kd vuqikyuksa ds fy, vkSfpR;iw.kZ vk/kkj vSj mu ij esjk er O;Dr djus dk vkSfpR;iw.kZ vk/kkj eqgS;k gqvkA

fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh cfg;ksa] i=ksa] dk;Z`Rr iqfLrdkvksa] izi=ksa] vkSj izLrqr dh xbZ foojf.k;ksa rFkk dEiuh }kjk vuqjf{kr vU; vfHkys[kksa ds vius lR;kiu ds vk/kkj ij vkSj lfpoky;h ys[kk ijh{kk ds nkSjku dEiuh] blds vf/kdkfj;ksa] ,tsaVksa vkSj izkf/kd`r izfrfuf/k;ksa }kjk eqgS;k djkbZ xbZ lwpuk ds vk/kkj ij Hkh] eSa ,rn~}kjk fjiksVZ djrk gWwa fd esjs erkuqlkj] dEiuh us fnukad 31 ekpZ] 2015 dks lekIr foRr o"kZ dks vkPNkfnr djus okyh ys[kk ijh{kk vof/k ds nkSjku ;gka uhps fn, x, lwphc) lkaof/kd izko/kkuksa dk vuqikyu djrk gS vkSj ;g Hkh fd dEiuh esa ;gka blds i'pkr izfrosnu dh lhek] rjhds vkSj v/;/khu lehphu cksMZ&izfØ;k,a vkSj vuqikyu&O;oLFkk ekStwn gS:

1- eSaus fuEu ds izko/kkuksa ds vuqlkj fnukad 31 ekpZ] 2015 dks lekIr vof/k ds fy, vksvkbZlh,y cfg;ksa] i=ksa] dk;Z`Rr iqfLrdkvksa] izi=ksa] vkSj izLrqr dh xbZ foojf.k;ksa rFkk dEiuh }kjk vuqjf{kr vU; vfHkys[kksa dh tkap dh gS%



59

I. The Companies Act, 2013 (the Act) and the Rules made thereunder;

II. Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder to the extent of Overseas Direct Investment;

III. General Insurance Business (Nationalisation) Act, 1972; the Insurance Act, 1938 and the Insurance Regulatory and Development Authority of India Act, 1999 and the Rules and Regulations made thereunder.

Further, being an Unlisted Company, the regulations and guidelines prescribed under the Securities and Exchange Board of India Act, 1992, The Securities Contracts (Regulation) Act, 1956 and The Depositories Act, 1996 are not applicable on the Company.

I have also examined compliance with the applicable clauses of the following:

i) Secretarial Standards issued by The Institute of Company Secretaries of India.

During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above subject to the following observations:

1. The OICL is a Government Company in the Insurance Sector and is also governed by IRDAI and similar applicable laws. Under the provisions of Sections 16(l)(d) and 16(l)(e) of the General Insurance Business (Nationalisation) Act, 1972 and the Articles of Association of the Company, the Central Government has the sole power to decide upon the composition of the Board of Directors of the Company, i.e. power to appoint and remove Directors on the Board. The composition of the Board during the period under review was as under:

. r. ny

I. dEiuh vf/kfu;e] 2013 ¼vf/kfu;e½ vkSj blds v/khu cuk, x, fu;e;

II. fons'kh eqnzk izca/ku vf/kfu;e] 1999 vkSj izR;{k fons'kh fuos'k dh lhek rd blds v/khu cuk, x, fu;e vkSj fofu;e;

III. lkekU; chek dkjksckj ¼jk"Vzh;dj.k½ vf/kfu;e] 1972; chek vf/kfu;e] 1938 vkSj Hkkjrh; chek fofu;ked ,oa fodkl izkf/kdj.k vf/kfu;e] 1999vkSj buds v/khu cuk, x, fu;e

blds vfrfjDr] ,d vlwphc) dEiuh gksus ds ukrs] Hkkjrh; izfrHkwfr ,oa fofu;e cksMZ vf/kfue;] 1992] izfrHkwfr lafonk,a ¼fofu;e½ vf/kfu;e] 1956] vkSj fu{ksikxkj vf/kfu;e] 1996 ds v/khu fu/kkZfjr fofu;e vkSj fn'kkfunsZ'k dEiuh ij ykxw ugha gksrsA

eSaus fuEufyf[kr iz;ksT; [kaMksa ds vuqikyu dh tkap Hkh dh g%

i) Hkkjrh; dEiuh lfpo laLFkku }kjk tkjh lfpoky;h ekudA

leh{kk/khu vof/k ds nkSjku dEiuh us fuEufyf[kr voyksduksa ds v/;/khu mijksfYyf[kr vf/kfu;eksa] fu;eksa] fofu;eksa] fn'kkfunsZ'kksa] ekudksa vkfn dk vuqikyu fd;k gS%

1- vksvkbZlh,y chek {ks= dh ,d ljdkjh dEiuh gS vkSj ;g vkbZvkjMh,vkbZ vkSj ,slh iz;ksT; fof/k;ksa }kjk Hkh “kkflr gksrh gSAlkekU; chek dkjksckj ¼jk"Vzh;dj.k½ vf/kfu;e] 1972 dh /kkjk 16¼l½¼?k½ vkSj 16¼l½¼M-½ ds izko/kkuksa vkSj dEiuh ds laxe vuqPNsnksa ds izko/kkuksa ds varxZr] dsanzh; ljdkj ds ikl dEiuh ds funs'kd eaMy dh lapjuk ij fu.kZ; djus dh ,dek= “kfDr vFkkZr funs'kd eaMy dh fu;qfDr vkSj bls gVkus dh “kfDr gSA leh{kk/khu vof/k ds nkSjku cksMZ dh lajpuk fuEukuqlkj Fkh%


Ø- la-sr. no.

O;fDr dk uke **name of Person**

fu;qfDr dh rkjh[kdate of appointment

lekfIr dh rkjh[kdate of cessation

ukekadu vkSj vkf/kdkfjd {kerkdesignation & official Capacity

1 MkW vftr dqekj lDlsukDr Ajit Kumar Saxena

12/06/2012 v/;{k ,oa izca/k funs'kdv/;{k ,oa izca/k funs'kd¼dk;Zdkjh funs'kd½Chairman Cum Managing Director (Executive Director)

2 Jh tfranjchj flagMr. Jatindirbir Singh

23/03/2015 funs'kd(xSj&dk;Zdkjh ukekafdr funs'kd)Director (Non-Executive Nominee Director

3 Jh dqynhi flagMr Kuldip Singh

17/10/2013 iw.kZ dkfyd funs'kd ¼dk;Zdkjh funs'kd½Whole Time Director (Executive Director)

4 MkW- Jhfuokl jko ukxktZquDr Srinivasa Rao Nagarjuna

18/07/2013 funs'kd ¼xSj&dk;Zdkjh ukekafdr funs'kd½Director (Non-Executive Nominee Director)

5 Jh ';ke yky cUlyMr Shyam Lai Bansal

13/12/2012 30/09/2014 funs'kd ¼xSj&dk;Zdkjh ukekafdr funs'kd½Director (Non-Executive Nominee Director)

6 lqJh dkS'y;k jkW;*Ms. Kaushalya Roy*

19/12/2012 va'kdkfyd insu funs'kd ¼Lora= funs'kd½Part Time Ex- Officio Director (Independent Director)

7 Jh fot; dqekj xxZ*Mr. Vijay Kumar Garg*


8 Jh vejnhi flag ckyh*Mr. Amardeep Singh Bali*


9 Jh lqt; cuthZMr. Sujay Banarji

17/07/2014 iw.kZ dkfyd funs'kd ¼dk;Zdkjh funs'kd½Whole Time Director (Executive Director)

*va'kdkfyd insu funs'kdksa^ ds :i esa fu;qDr funs'kdksa dks Lora= funs'kd ekuk tkrk gSA *va'kdkfyd insu funs'kdksa^ ds :i esa fu;qDr funs'kdksa dks funs'kd eaMy esa Lora= funs'kd ekuk tkrk gS D;ksafd os fdlh Hkh ljdkjh fudk; ;k miØe esa dksbZ in ;k fu;qfDr /kkfjr ugha djrsA

*The directors appointed as 'part time non officiating directors' are regarded as Independent

*The directors appointed as 'part time non of ficiating directors' are regarded as Independent Director on the Board as they do not hold any position or employment with any Government body or undertaking.



61

2. During the year under review, the Company has provided unsecured loans to Industrial Credit Company Limited, a wholly owned subsidiary company, by way of day to Day operational expenses borne for and on their behalf as the subsidiary company is not transacting any business. Further, these related party transactions were to be approved the Board of the Company and its committees.

3. i further report that:

a. The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors.

b. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act.

c. Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

d. Majority decision is carried through while the dissenting members' views are captured and recorded as part of the minutes.

i further report that there are adequate systems and processes in the company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines. However, during the period under review, an instance of fraud covered under Section 143 of the Companies Act, 2013 read with Rule 13 of the Companies (Audit and Auditors) Rules, 2013 was reported to the Board of Directors of the Company, which has been suitably acted upon by the Board.

i further report that the Company has, in my

2- leh{kk/khu vof/k ds nkSjku dEiuh us] viuh vksj ls fnu izfrfnu izpkyfud O;;ksa ds ek/;e ls] viuh iw.kZ LokfeRo okyh vuq"kaxh dEiuh] baMLVªh;y ØsfMV dEiuh fyfeVsM dks vizR;kHkwr _.k iznku fd, gSa] D;ksafd vuq"kaxh dEiuh dksbZ dkjksckj ugha dj jgh gSA blds vfrfjDr bu lacaf/kr i{kdjk laO;ogkjksa dks funs'kd eaMy vkSj bldh lfefr;ksa }kjk vuqeksfnr fd;k tkuk FkkA blds vfrfjDr] bu lacaf/kr i{kdkj laO;ogkjksa dks dEiuh ds cksMZ vkSj bldh lfefr;ksa }kjk vuqeksfnr fd;k tkuk FkkA

3- eSa vkxs fjiksVª djrk gWwa fd%

d- dEiuh ds funs'kd eaMy dh fof/kor lajpuk dk;Zdkjh funs'kdksa] xSj&dk;Zdkjh funs'kdksa vkSj Lora= funs'kdksa ds mi;qDr larqyu lfgr dh xbZ gSA

[k- funs'kd eaMy dh lajpuk esa leh{kk/khu vof/k es gq, ifjorZu vf/kfu;e ds izko/kkuksa dk vuqikyu djrs gq, fd, x, FksA

x- cksMZ dh cSBdksa dks fu/kkZfjr djus ds fy,] lHkh funs'kdksa dks lkr fnu vfxze :i ls dk;Zlwph vkSj dk;Zlwph ij foLr`r fVIif.k;ka nsus ds fy, i;kZIr lwpuk iznku dh xbZ gS vkSj cSBd ls iwoZ dk;Zlwph dh enksa ij vkxs lwpuk vkSj Li"Vhdj.k ekaxus vkSj gkfly djus ds fy, vkSj cSBd esa lkFkZd Hkkxhnkjh ds fy, iz.kkyh fo|eku gSA

?k- cgqer ls fy, x, fu.kZ;ksa dks dk;kZfUor fd;k tkrk gS tcfd vlger lnL;ksa ds enksa dks j[k dj dk;Zo`Rr ds Hkkx ds :i esa vfHkys[kc) dj fy;k tkrk gSA

eSa vkxs fjiksVª djrk gWwa fddEiuh esa iz;ksT; fof/k;ksa] fu;eksa] fofu;eksa vkSj fn'kkfunsZ'kksa dk vuqikyu vkSj bldh fuxjkuh lqfuf'pr djus ds fy, dEiuh ds vkdkj vkSj izpkyuksa ds vuq:i i;kZIr iz.kkfy;ka vkSj izfØ;k,a fo|eku gSaA rFkkfi] leh{kk/khu vof/k ds nkSjku] dEiuh ds funs'kd eaMy dks dEiuh ¼ys[kk ijh{kk vkSj ys[kk ijh{kd½ fu;ekoyh] 2013 ds fu;e 13 ds lkFk ifBr dEiuh vf/kfu;e] 2013 dh /kkjk 143 ds varxZr vkus okyh /kks[kk/kM+h dk ,d n`"Vkar lwfpr fd;k x;k Fkk ftl ij cksMZ }kjk mi;qDr dk;ZokbZ


opinion and subject to the above mentioned observations, during the audit period complied with the provisions of the Companies Act, 1956 and the Rules made under that Act and the provisions of Companies Act, 2013 as notified by Ministry of Corporate Affairs and the Memorandum and Articles of Association of the Company, with regard to:

a) maintenance of various statutory registers and documents and making necessary entries therein;

b) closure of the Register of Members;

c) forms, returns, documents and resolutions required to be filed with the Registrar of Companies and the Central Government;

d) service of documents by the Company on its Members, Auditors and the Registrar of Companies;

e) notice of Board meetings and Committee meetings of Directors;

f ) the meetings of Directors and Committees of Directors including passing of resolutions by circulation;

g) holding of Annual General Meeting;

h) recording minutes of proceedings of General Meetings and of the Board and its Committee meetings;

i) obtaining approvals of the Members, the Board of Directors, the Committees of Directors and the government authorities, wherever required;

j) constitution of the Board of Directors / Committee(s) of Directors, appointment, retirement and reappointment of Directors including the Managing Director and Whole-time Directors;

k) payment of remuneration to Directors including the Managing Director and Whole-time Directors,

dh tk pqdh

eSa vkxs fjiksVª djrk gWwa fddEiuh us esjs erkuqlkj vkSj mijksfYyf[kr voyksduksa ds v/;/khu] ys[kk ijh{kk vof/k ds nkSjku dEiuh vf/kfu;e] 1956 vkSj vf/kfu;e ds varxZr cuk, x, fu;eksa fuEu ds laca/k esa fuxfer dk;Z ea=ky; }kjk ;Fkk vf/klwfpr dEiuh vf/kfu;e] 2013 ds izko/kkuksavkSj dEiuh ds Kkiu vkSj laxe vuqPNsnksa ds izko/kkuksa dk vuqikyu fd;k gS%

d- fofHkUu lkafof/kd jftLVjksa vkSj nLrkostksa dk vuqj{k.k vkSj buesa vko';d izfof"V;ka djuk(

[k- lnL;ksa ds jftLVjksa dk Dykstj(

x- dEiuh jftLVªkj vkSj dsanzh; ljdkj dks izLrqr fd, tkus ds fy, visf{kr izi=] foojf.k;ka vkSj ladYi(

?k- dEiuh }kjk vius lnL;ksa] ys[kk ijh{kdksa vkSj dEiuh jftLVªkj }kjk nLrkostksa dk 'kks/ku(

M+- cksMZ dh cSBdsa vkSj funs'kdksa dh lfefr;ksa dh cSBdsa(

p- cksMZ dh cSBdsa vkSj funs'kdksa dh lfefr;ksa dh cSBdsa ftuesa ifjpkyu }kjk ladYiksa dks ikfjr fd;k tkuk 'kkfey gS(

N- okf"kZd vke lHkk dk vk;kstu(

t- vke lHkk vkSj cksMZ vkSj bldh lfefr;ksa dh cSBdksa dh dk;Zokfg;ksa dk dk;Zo`Rr vfHkys[kc) djuk(

>- tgka dgha visf{kr gks] lnL;ksa] funs'kd eaMy] funs'kdksa dh lfefr;ksa vkSj ljdkjh izkf/kdj.kksa ds vuqiksnu izkIr djuk(

M+ funs'kd eaMy@funs'kdksa dh lfefr ¼lfefr;ksa dk xBu)] izca/k funs'kd vkSj iw.kZdkfyd funs'kdksa lfgr funs'kdksa dh fu;qfDr] lsokfuo`fRr vkSj iqu% fu;qfDr(

V- izca/k funs'kd vkSj iw.kZdkfyd funs'kdksa lfgr funs'kdksa dks ikfjJfed dk Hkqxrku(

B- ys[kk ijh{kdksa vkSj ykxr ys[kk ijh{kdksa dh fu;qfDr vkSj ikfjJfed(

M- dEiuh ds 'ks;jksa dk varj.k vkSj 'ks;j izek.ki=ksa dk fuxZeu vkSj fMLisp(



63

opinion and subject to the above mentioned observations, during the audit period complied with the provisions of the Companies Act, 1956 and the Rules made under that Act and the provisions of Companies Act, 2013 as notified by Ministry of Corporate Affairs and the Memorandum and Articles of Association of the Company, with regard to:

a) maintenance of various statutory registers and documents and making necessary entries therein;

b) closure of the Register of Members;

c) forms, returns, documents and resolutions required to be filed with the Registrar of Companies and the Central Government;

d) service of documents by the Company on its Members, Auditors and the Registrar of Companies;

e) notice of Board meetings and Committee meetings of Directors;

f ) the meetings of Directors and Committees of Directors including passing of resolutions by circulation;

g) holding of Annual General Meeting;

h) recording minutes of proceedings of General Meetings and of the Board and its Committee meetings;

i) obtaining approvals of the Members, the Board of Directors, the Committees of Directors and the government authorities, wherever required;

j) constitution of the Board of Directors / Committee(s) of Directors, appointment, retirement and reappointment of Directors including the Managing Director and Whole-time Directors;

k) payment of remuneration to Directors including the Managing Director and Whole-time Directors,

l) appointment and remuneration of Auditors and Cost Auditors;

m) transfers of the Company's shares and issue and dispatch of certificates of shares;

n) declaration and payment of dividends;

o) borrowings and registration, modification and satisfaction of charges wherever applicable;

p) investment of the Company's funds including investments and loans to others;

q) form of accounts and information required by the Insurance Act, 1938, IRDAI Regulations 2002 and the relevant sections of Companies Act, 2013;

r) Directors' report;

s) contracts, common seal, registered office and publication of name of the Company; and

t) Generally, all other applicable provisions of the Act and the Rules made under the Act.

For Jayant gupta and associates

Place: new delhi date : 14th May, 2015

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65

KUldiP singh DIRECTOR & GENERAL MANAGER

dqynhi flagfuns”kd vkSj egkizca/kd

MaRKetingIn the financial year 2014-15, the Company has generated a Premium of Rs.7407.96 crores from Indian market witnessing a Growth of 3.93%. Year 2014-15 has been a tough year due to aggressive pricing in Health /RSBY segment and also in Fire / Property. We at Oriental continued to maintain discipline in the pricing and as a result even though the growth was lower due to cautious underwriting resulted in better profitability. Once again company recorded an impressive Gross Profit of Rs.617.34 crore, another successful year for the Company. The results are the outcome of joint continuous strenuous work of entire Oriental family at all levels especially the distribution channels.

distribution ChannelsOur various distribution channels namely marketing officers, development officers, direct agents, brokers and bancassurance partners continued to perform well in this year and showed growth. The detailed channel wise performance is as under:

foi.kufoRr o"kZ 2014&15 esas] dEiuh us 3-93% dh o`f) dk lk{kh curs gq, Hkkjrh; cktkj ls #-7407-96 djksM+ dk izhfe;e vftZr fd;kA o"kZ 2014&15 LokLF;@vkj,lchokbZ esa vkSj vfXu@lEifRr esa Hkh vkØked ewY;&fu/kkZj.k dh otg ls ,d dfBu o"kZ jgk gSA vksfj,.Vy esa geus fujarj ewY;& fu/kkZj.k esas vuq'kklu cuk, j[kk vkSj ifj.kkeLo:i o`f) nj ds de gksus ds ckotwn ltx tksf[ke vadu dh otg ls ifj.kke csgrj ykHkiznrk ds :i esa jgkA ,d ckj fQj dEiuh us #-617-34 djksM+ dk izHkko'kkyh ldy ykHk ntZ fd;k] tks fd dEiuh dk ,d vkSj lQy o"kZ jgkA ;s ifj.kke leLr vksfj,.Vy ifjokj ds lHkh Lrjksa ij] fo'ks"kdj forj.k ek/;eksa ds Lrjksa ij la;qDr lrr dfBu iz;klksa dk urhtk gSaA

forj.k pSuygekjs forj.k pSuy uker% foi.ku vf/kdkjh] fodkl vf/kdkjh] izR;{k ,tsaV] czksdj vkSj cSadk';ksjsal Hkkxhnkj fujarj bl o"kZ esa vPNk fu"iknu djrs jgs vkSj o`f) n'kkZrs jgsA pSuy&okj fu"iknu C;kSjk fuEukuqlkj gS%


indian operations only (Rs. in crore)

Channel 2013-14 2014-15 gR%Direct Business 1260.19 1228.37 -2.53AO(D)/AM (D) 1036.41 1080.47 4.25Dev. Officers (Mktg.)

1619 1670.16 3.16

Direct Agents 1497.24 1639.03 9.47Brokers 974.1 1007.20 3.40Bank Tie-ups 256.96 274.73 6.92Motor Tie Ups 483.94 507.99 4.97TOTAL 7127.84 7407.95 3.93

Rural sector- social sector insurance:The Company continues to fulfill and surpass its statutory obligations towards the rural and social sector. In the year 2014-15, the contribution of rural premium to the total was 12.40% well above the statutory requirement of 7%.

In the social sector, the company provided insurance protection to 382.82 lakh lives much above minimum requirement of 92.40 lakhs. During the period under review, the details of performance of this sector are as under:

2013-14 2014-151. Total Gross Premium

Underwritten (Rs. In crore)

7127.84 7407.95

2. Policies u/w in rural areas (in no.)

2373688 2469750

3. Gross Premium u/w in rural areas (Rs. In crore)

830.15 918.53

4. % age of Rural Business 11.65 12.405. Whether Rural Sector

Stipulation met (Yes/no)Yes YES

6. No. of lives covered in Social Sector

1.67 crore

3.82crore

7. Whether Social Sector stipulation met (Yes/no)

Yes YES

organization structure:30 Business centres were opened at the unserviced semi urban and rural locations to meet not only the obligation to the society but also to increase

dsoy Hkkjrh; izpkyu

pSuy 2013-14 2014-15 gR%

izR;{k dkjksckj 1260.19 1228.37 -2.53

,vks¼Mh½@,,e ¼Mh½ 1036.41 1080.47 4.25

fodkl vf/kdkjh¼foi.ku½

1619 1670.16 3.16

izR;{k ,tsaV 1497.24 1639.03 9.47

czksdj 974.1 1007.20 3.40

cSadksa ds lkFk lg;ksx O;oLFkk,a

256.96 274.73 6.92

eksVj lg;ksx O;oLFkk,a

483.94 507.99 4.97

dqy 7127.84 7407.95 3.93

xzkeh.k {ks= & lkekftd {ks= chek%dEiuh xzkeh.k vkSj lkekftd {ks= ds izfr vius lkafof/kd nkf;Roksa dks yxkrkj iwjk djrh jgh vkSj nkf;Roksa ls vf/kd dk;Z fd;kA o"kZ 2014&15 esa dqy izhfe;e esa xzkeh.k izhfe;e dk ;ksxnku 12-40% Fkk tks 7% dh lkafof/kd vis{kk ls dgha vf/kd FkkA

lkekftd {ks= esa] dEiuh us 92-40 yk[k dh U;wure vis{kk ls dgha vf/kd 382-82 yk[k thouksa dks chek laj{k.k iznku fd;kA leh{kk/khu vof/k ds nkSjku] bl {ks= ds fu"iknu dk C;kSjk fuEukuqlkj gS%

2013-14 2014-151- dqy dy izhfe;e tksf[ke

vadu ¼djksM+ #i, esa½7127.84 7407.95

2- xzkeh.k {ks=ksa esa chekafdr ikWfyfl;ka ¼la[;k esa½

2373688 2469750

3- xzkeh.k {ks=ksa esa chekafdr izhfe;e ¼djksM+ #i, esa½

830.15 918.53

4- xzkeh.k dkjksckj dk % 11.65 12.405- D;k xzkeh.k {ks= dk fu/kkZj.k

iwjk gqvk ¼gka@ugha½gka gka

6- lkekftd {ks= esa chek nk;js esa yk, x, thouksa dh la[;k

1.67 djksM+

3.82djksM+

7- D;k lkekftd {ks= dk fu/kkZj.k iwjk gqvk ¼gka@ugha½

gka gka

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67

insurance penetration. With this, the total number of offices has raised to 1915, with 30 Regional Offices, 350 Divisional Offices, 497 Branch Offices and 968 One Man Offices in addition to 25 service Centers and 38 Third Party Hubs, all dedicated to the insuring public of India.

A committed work force of 50000+ agents working in various offices is being looked after by 23 Agency Coaches, 321 Agency Managers and 1014 Development Officers. Innovative incentive schemes have been formulated to motivate them.

Communication:Call Centre has completed third successful year of its functioning. The average number of customers approaching the call center is around 28000 per month. The Performance of the Call Center has been very good. The Call Centre is playing a vital role as a link between customers and the company.

Publicity In the year 2014-15, we made substantial publicity not only in the metro cities but also in smaller towns. Improving brand image of the company and making our presence felt in the market has been an important goal of Publicity department. In 2014-15 we allotted sufficient budget to all Regional Offices for undertaking publicity activities at local levels. The Board of Directors has approved upward revision of Financial Authority for Regional Heads. Further to increase the publicity in rural areas, additional financial authority has been given to each Regional Head. We have encouraged various activities in villages and big towns such as participation in rural melas, wall paintings, health camps etc. Purchase of 3 vans for mobile office was also sanctioned.

teChno MaRKeting dePaRtMent – FiRe & engineeRing

The Market on Property Insurance which adopted a softening trend for quite some time now, continued to follow the similar approach in offering heavy discounts during this year also. While the market has fallen back arbitrarily on pricing mechanism, we still adopted a careful approach while granting discounts depending upon the risk perception, claim exposure of client clubbed with consideration

v/kZ'kgjh vkSj xzkeh.k LFkkuksa ij 30 dkjksckj dsanz [kksys x,A blls] dk;kZy;ksa dh dqy la[;k c<+dj 1915 gks xbZ gS] ftlesa 30 {ks=h; dk;kZy;] 350 izHkkxh; dk;kZy;] 497 'kk[kk dk;kZy; vkSj 968 ,d O;fDr dk;kZy;ksa ds vfrfjDr 25 lsok dsanz vkSj 38 r`rh; i{kdkj gc 'kkfey gSa] vkSj ;s lHkh Hkkjr dh turk dk chek djus ds fy, izfrc) gSaA

fofHkUu dk;kZy;ksa esa dk;Zjr 50000+ ,tsaVksa ds izfrc) dk;Zcy dh ns[k&js[k 23 ,tsalh dkspksa] 321 ,tsalh izca/kdksa vkSj 1014 fodkl vf/kdkfj;ksa }kjk dh tk jgh gSA bUgsa izsfjr djus ds fy, uohu izksRlkgu ;kstuk,a fu:fir dh xbZ gSaA

lapkj%dkWy lsaVj us vius dkedkt dk rhljk lQy lky iwjk dj fy;k gSA dkWy lsaVj ls lEidZ djus okys xzkgdksa dh vkSlr la[;k izfrekg yxHkx 28000 gSA dkWy lsaVj dk fu"iknu cgqr vPNk jgk gSA dkWy lsaVj xzkgdksa vkSj dEiuh ds chp ,d egRoiw.kZ lEidZ dh Hkwfedk fuHkk jgk gSA

izpkjo"kZ 2014&15 ds nkSjku] geus u dsoy egkuxjksa eas cfYd NksVs 'kgjksa esa Hkh dkQh izpkj fd;kA dEiuh dh czkaM best esa lq/kkj djuk vkSj viuh mifLFkfr cktkj esa eglwl djkuk izpkj foHkkx dk egRoiw.kZ y{; jgk gSA o"kZ 2014&15 ds nkSjku geus LFkkuh; Lrjksa ij izpkj xfrfof/k;ka pykus ds fy, lHkh {ks=h; dk;Zy;ksa dks i;kZIr ctV vkoafVr fd,A funs'kd eaMy us {ks=h; izeq[kksa ds fy, foRrh; izkf/kdkj esa m/oZxkeh la'kks/ku dks vuqeksfnr dj fn;k gSA xzkeh.k {ks=ksa esa izpkj c<+kus ds fy,] izR;sd {ks=h; izeq[k dks vfrfjDr foRrh; izkf/kdkj fn;k x;k gSA geus xkaoksa vkSj NksVs dLcksa esa vusd xfrfof/k;ksa dks izksRlkfgr fd;k gS tSls xzkeh.k esyksa esa Hkkxhnkjh] okWy isafVax] LokLF; f'kfoj vkfnA eksckby dk;kZy; ds fy, 3 oSuksa dh [kjhn dks Hkh laLohd`r fd;k tk pqdk gSA

rduhdh foi.ku foHkkx & vfXu vkSj vfHk;kaf=dhlEifRr chek cktkj] tks dkQh le; ls ujeh dk #[k viuk, gq, gS] bl o"kZ ds nkSjku Hkh Hkkjh NwVsa iznku djus esa blh #[k dks viuk, jgkA tgka cktkj ewY;&fu/kkZj.k iz.kkyh esa euekus <ax ls Hkkoksa esa deh djrk jgk gS] ogha geus vHkh Hkh cktkj dh ck/;rkvksa ij fopkj djus ds lkFk lkFk xzkgd dh nkok vukJ;rk] tksf[ke laHkkouk ds vk/kkj


of market compulsions. Meanwhile, in order to give a competitive edge, we decentralized discount sanctioning authority with our Regional Offices.

In order to curtail discounts and improve pricing of risks in the market, our regulator IRDAI at the end of the financial year came up with an initiative to implement Burning Cost rates on selected categories of Fire risks, at the first instance with intent to cover the other portfolios subsequently in a phased manner. The market behavior on this, however, shall be known in the times to come.

Under this process of metamorphosis, the Fire premium underwritten during the year amounts to Rs.1012.78 cr with a negative growth rate of 2.60%. So far as Engineering portfolio is concerned, the entire Insurance Industry had been reeling under pressure with not many new projects coming up in the country viz-a-viz for insurance. Thus the premium for Engineering segment settled at Rs.355.98 cr. with a negative growth of 5.02% with Industry growth also tottering at (-) 5.71%.

Our Property portfolio contributes 18.10% of Company’s total premium and this share is at its best when compared to the average of PSU companies and even the Industry level product mix premiums.

Fire ICR on Gross basis is higher at 95.81% primarily owing to reporting of couple of major claims, alongside the impact of catastrophic events experienced by the country viz. Hud Hud cyclone in AP and floods in J&K. However, on Net basis it is comparatively at a lower level of 83.87%. Under Engineering Portfolio, its ICR on Gross basis is reasonable at 63.21% and quite comfortable on Net basis at 42.94% only.

Further, various directives have been issued to our ROs in order to speed up timely settlement of claims. This includes prompt deputation of surveyors, visitation by DO/RO officials to sites of large losses, expeditious submission of underwriting & claim documents, timely & qualitative receipt of survey report, review of surveyors’ performance, maintenance of proper claim provisions etc.

ij NwVsa iznku djrs gq, lrdZ #[k viuk;k gqvk gSA bl chp] izfrLi/khZ /kkj nsus ds fy,] geus NwV laLohd`r djus dk izkf/kdkj vius {ks=h; dk;kZy;ksas esa fodsanzhd`r fd;k gSA

NwVksa esa dVkSrh djus vkSj cktkj esa tksf[keksa ds ewY;& fu/kkZfj.k esa lq/kkj djus ds mn~ns'; ls] gekjs fofu;ked vkbZvkjMh,vkbZ us foRr o"kZ ds var esa lcls igys vfXu tksf[keksa dh pquh gqbZ Jsf.k;ksa ij cfuZax dkWLV dk;kZfUor djus ,d igy 'kq: dh gS] ftlds nk;js esa pj.kc) rjhds ls ckn esa vU; foHkkxksa dks yk;k tkuk vfHkizsr gSA gkykafd bl ij cktkj ds O;ogkj ds ckjs esa vkus okys le; esa tkudkjh gks ldsxhA

dk;kUrj.k dh bl izfØ;k ds rgr] o"kZ ds nkSjku chekafdr vfXu izhfe;e #-1012-78 djksM+curk gS ftlesa dh 2-60% udkjkRed o`f) nj jgh gSA tgka rd vfHk;kaf=dh foHkkx dk laca/k gS] ns'k esa chek ds fy, vusd ubZ ifj;kstuk,a vkus dh otg ls lewpk chek m|ksx ncko ls tw> jgk gSA bl izdkj bathfu;fjax lsxesaV ds fy, izhfe;e #- 355-98 djksM+ ij fVd x;k ftlesa 5-02% dh udkjkRed o`f) jgh tcfd m|ksx dh o`f+) Hkh (-) 5.71% ij tw> jgh FkhA

gekjs lEifRr foHkkx us dEiuh ds dqy izhfe;e esa 18-10% dk ;ksxnku fn;k vkSj tc ih,l;w dEifu;ksa ls vkSlr ls] cfYd ;gka rd m|ksx Lrjh; mRikn ds fefJr izhfe;eksa ls Hkh bldh rqyuk dh tk, rks ;g loZJs"B gSA

ldy vk/kkj ij vfXu vkbZlhvkj 95-81% ij mPprj gS ftldk izeq[k dkj.k nks cM+s nkoksa dh fjiksfVZax ds lkFk&lkFk ns'k ds le{k vkbZ vka/kz izns'k esa gqn gqn rwQku vkSj tEew d'ehj esa ck<+ tSlh vkink dh ?kVuk,a Hkh jghaA rFkkfi] fuoy vk/kkj ij ;g rqyukRed :i ls 83-87% ds fuEurj Lrj ij gSA vfHk;kaf=dh foHkkx ds rgr] bldk vkbZlhvkj ldy vk/kkj ij vkSfpR;iw.kZ 63-21% gS vkSj fuoy vk/kkj ij dsoy 42-94% ij dkQh iqjlqdwu gSA

blds vfrfjDr] nkoksa ds lek/kku esa rsth ykus ds mn~ns'; ls gekjs vkjvks dks vusd funs'k tkjh fd, x,A blesa losZ;jksa dh rRijrk ls fu;qfDr] cM+h gkfu;ksa ds LFkkuksa ij Mhvks@vkjvks }kjk nkSjk fd;k tkuk] chekadu vkSj nkok nLrkostksa dh 'kh/kz izLrqfr losZ fjiksVZ dh le;c) vkSj xq.koRrkiw.kZ izkfIr] losZ;jksa ds fu"iknu dh leh{kk] mi;qDr nkok izko/kkuksa dk vuqj{k.k vkfn 'kkfey gSA



69

ReinsURanCe Reinsurance as one of the important Risks Management tools aims at providing automatic capacity to an Insurance Company thereby enabling it to underwrite and manage its risks effectively, by achieving a global spread, besides providing financial stability and ensuring overall protection of Company’s Balance Sheet. Like insurance, reinsurance is a methodical way of Risk Transfer. It protects insurers against large losses on particular risks and catastrophic losses on a large number of risks.

Reinsurance acts as a shock absorber for an Insurance Company. An effective Reinsurance arrangement enables a Company to pay losses even beyond its retention and provides as much automatic capacity as is possible so that the direct marketing team is in a position to accept business in challenging market conditions and achieve its growth targets. At the same time, Reinsurance also equips the Company with technical expertise.

The aim of our Reinsurance Programme is to ensure maximum protection at minimum outgo and to

sUJaY BanaRJi DIRECTOR & GENERAL MANAGER

lqtk; cSuthZ funs'kd ,oa egkizca/kd

iquchZekiquchZek ,d egRoiw.kZ tksf[ke izca/ku midj.k gS ftldk y{; ,d chek dEiuh dks Lopkfyr }erk eqgS;k djku gS ftlls ;g dEiuh dk foRrh; LFkk;hRo eqgS;k djkus vkSj dEiuh dk lexz laj{k.k lqfuf'pr djus ds vfrfjDr ,d oSf'od foLrkj izkIr djds vius tksf[keksa dk chekadu vkSj izHkkoh izca/ku dj ldsA chek dh rjg] iquchZek Hkh tksf[ke varj.k dk ,d lqO;ofLFkr rjhdk gksrk gSA ;g chekdrkZ dks cM+h la[;k esa tksf[keksa ij vkinkdkjh gkfu;ksa vkSj fof'k"V tksf[keksa ij cM+h gkfu;ksa ds izfr lajf{kr djrk gSA

iquchZek fdlh chek dEiuh ds fy, 'kkWd vkWCtoZj ds :i esa dke djrk gSA izHkkoh iquchZek O;oLFkk dEiuh dks blds izfr/kkj.k dh lhek ls Hkh vf/kd gkfu;ksa dk Hkqxrku djus esa l{ke cukrh gS gS vkSj tgka rd laHko gks mruh Lopkfyr {kerk miyC/k djkrh gS rkfd izR;{k foi.ku Vhe pqukSrhiw.kZ cktkj ifjfLFkfr;ksa esa dkjksckj dks Lohdr djus vkSj vius of) laca/kh y{;ksa dks iwjk djus dh fLFkfr esa gksA lkFk gh] iquchZek dEiuh dks rduhdh fo'ks"kKrk ls Hkh lqlfTtr djrk gSA

gekjs iquchZek dk;ZØe dk y{; U;wure ifjO;; ij vf/kdre lqj{kk lqfuf'pr djuk vkSj vkuqikfrd vkSj xSj&vkuqikfrd


provide automatic reinsurance facility through a proper mix of Proportional and Non-Proportional Treaties thereby facilitating best use of the rapidly expanding business opportunities in our own country and overseas.

Automatic capacity is being provided by Proportional Treaties which aim to protect the Risks which are beyond Company’s Net Retention, without putting strain on Company’s Capital. The risk of accumulation of exposures on Company’s Net is mitigated by purchasing Excess of loss protection to cover huge losses arising out of a single risk loss or multiple losses arising out of a Cat Event.

In 2014-15, the Indian Insurance market had been hit by two major catastrophes viz Jammu and Kashmir floods in September and Hud-Hud Cyclone in October. Our Cat XL treaty has been affected due to these Cat events.

Our Risk XL 2014-15 Treaty has also been affected by a few major risk losses. Whilst our Fire and Engineering Surplus Treaties have gone into negative results due to above mentioned Risk and Cat losses, our Marine Cargo and Miscellaneous Accident Surplus Treaties continue to give a good positive balance to the Reinsurers.

The Company has been growing at a moderate yet steady pace . Our direct premium still continues to be under stress but it is the result of our striving hard for an adequate pricing through self regulation so as to achieve our target of “Growth with Profitability”. The Regulator has also felt the need to initiate process of correction in pricing of risks by way of introduction of “Burning Cost” methodology of rating, the results of which are expected to be seen by Indian Insurance market during second half of financial year 2015-16.

The initiatives that were introduced by the Company in the last few years towards prudent underwriting for improvement in pricing of the risks and the controlling measures on claims still continue. Team Oriental’s continuous endeavor for achieving its growth targets diligently within the well-defined parameters are expected to reap positive underwriting results for the Company, in the times to come.

Our Company’s Reinsurance Programme for 2015-

laf/k;ksa ds mi;qDr feJ.k ds tfj, Lopkfyr iquchZek lqfo/kk djkuk gS ftlls gekjs vius ns'k vkSj fons'kksa esa dkjksckjh voljksa dks rsth ls foLrkj djus dk loksZRre mi;ksx lqxe gks ldsA

Lopkfyr {kerk vkuqikfrd laf/k;ksa }kjk eqgS;k djkbZ tk jgh gS ftldk y{;] dEiuh dh iwath ij ncko Mkys fcuk] dEiuh ds fuoy izfr/kkj.k dh lhek ls ijs ds tksf[keksa dk laj{k.k djuk gSA dEiuh ds fuoy ij vukJ;rkvksa ds lap; ds tksf[ke dk 'keu fdlh ,dy tksf[ke dh gkfu ls mRiUu gksus okyh Hkkjh gkfu;ksa ;k fdlh ,d vkink dh ?kVuk ls mRiUu gksus okyh ,d ls vf/kd gkfu;ksa dks doj djus ds fy, gkfu laj{k.k ls vf/kd dk Ø; djds fd;k tkrk gSA

o"kZ 2014&15 esa, Hkkjrh; chek cktkj flracj esa tEew&d'ehj dh ck<+ vkSj vDVwcj esa gqngqn rwQku }kjk izHkkfor gqvkA bu vkinkvksa dh otg ls gekjh dSV ,Dl,y laf/k izHkkfor gqbZ gSA

gekjh fjLd ,Dl,y 2014&15 laf/k dqN cM+h tksf[ke gkfu;ksa }kjk Hkh izHkkfor gqbZ gSA tgka mijksfYyf[kr tksf[ke vkSj vkink gkfu;ksa dh otg ls gekjh vfXu vkSj vfHk;kaf=dh vf/k'ks"k laf/k;ksa ds udkjkRed ifj.kke jgs] ogha gekjh ejhu dkxksZ vkSj fofo/k nq?kZVuk vf/k'ks"k laf/k;ka iquchZekdkjksa dks vPNk ldkjkRed larqyu iznku djrh jghaA

dEiuh ,d /kheh exj fLFkj xfr ls vkxs c<+ jgh gSA gekjs izR;{k izhfe;e vHkh Hkh ncko esa cus gq, gSa fdarq ;g ^ykHkiznrk lfgr of)^^ ds gekjs y{; dks gkfly djus ds mn~ns'; ls Lo&fofu;eu ds ek/;e ls i;kZIr ewY;&fu/kkZj.k iz.kkyh ds fy, gekjs dBksj iz;klksa dk urhtk gSA fofu;ked us Hkh jsfVax dh ^^cfuZax dkWLV^^ i)fr vkjaHk djds tksf[keksa ds ewY;&fu/kkZj.k esa lq/kkj dh izfØ;k vkjaHk djus dh vko';drk eglwl dh gS ftlds ifj.kke Hkkjrh; chek cktkj dks foRr o"kZ 2015-16 dh nwljh Nekgh ds nkSjku fn[kkbZ nsus dh vk'kk gSA

dEiuh }kjk tksf[keksa ds ewY;&fu/kkZj.k esa lq/kkj vkSj nkoksa ij fu;a=.k ds mik;ksa ds fy, foosdiw.kZ tksf[ke vadu dh fn'kk esa fiNys dqN o"kksZa esa vkjaHk fd, x, mik; vHkh Hkh tkjh gSaA lqifjHkkf"kr ekuinaMksa ds Hkhrj v/;olk; lfgr viuh of) ds y{;ksa dks gkfly djus ds Vhe vksfj,.Vh ds iz;klksa dh otg ls vkus okys le; esa dEiuh ds fy, ldkjkRed tksf[ke vadu ifj.kke lkeus vkus dh vk'kk gSA



71

16 has been designed to provide the much needed automatic capacity in line with the requirements of individual portfolios. The limits are generally the same as expiring. However, additional capacities have been created in Liability portfolio which is growing steadily as also in Engineering Annual policies, Group Personal Accident and Burglary Insurance policies. Based on results of Catastrophic Models, there has also been enhancement in limits of our Company’s Earthquake cover.

Despite the impact of J & K Flood and Hud-Hud Cyclone losses on our Treaties, all the Proportional and Non Proportional Treaties of Oriental have successfully been placed with financially sound Securities within the ambit of IRDAI Regulations.

MisCellaneoUsThe Miscellaneous department of the Company handles the widest variety of policies which are tailored to suit the requirements of both the corporate as well as individuals. The department has given continuous profits over many years .A brief snap shot of the business segments underwritten in Miscellaneous and their performance during the year 2014-15 is given below.

Year 2014-15 gross Premium

(in crores)

gross incurred

Claims Ratio

(%)

net incurred

Claims Ratio

(%)liaBilitY 50.89 8.53 16.10

eMPloYeR’s liaBilitY

80.25 18.32 18.12

PeRsonal aCCident

149.37 60.29 57.66

otheR MisC(including Rid)

421.95 30.71 38.83

Liability business is fast growing in the INDIAN INSURANCE market particularly lines like Director’s & Officer’s liability policy, due to changes in the Companies Act which imposes greater responsibility on the Board of Directors of the Company .

During the year, as promised, the department was able to modify and get the Regulator’s approval for the

o"kZ 2015-16 ds fy, dEiuh dk iquchZek dk;ZØe vyx&vyx foHkkxksa ds vis{kkvksa ds vuq:i vR;ar vko';d Lopkfyr lqfo/kk eqgS;k djkus ds fy, rS;kj fd;k x;k gSA bldh lhek,a lekfIr tSlh gh gSaA rFkkfi] nsunkjh foHkkx] ftlesa o`f) gks jgh gS vkSj lkFk gh vfHk;kaf=d okf"kZd ikWfyfl;ksa] lewg O;fDrxr nq?kZVuk vkSj lsa/kekjh chek ikWfyfl;ksa esa Hkh vfrfjDr {kerk,a l`ftr dh xbZ gSaA vkink ekWMyksa ds vk/kkj ij] gekjh dEiuh ds HkwdEi doj dh lhekvksa esa Hkh lao/kZu gqvk gSA

gekjh laf/k;ksa ij tEew d'ehj dh ck<+ vkSj gqn&gqn rwQku ds izHkko ds ckotwn] vksfj,.Vy dh lHkh vkuqifrd vkSj xSj vkuqikfrd laf/k;ksa dks vkbZvkj,Mh,vkbZ ds fofu;eksa ds nk;js ds Hkhrj foRrh; :i ls Bksl izfrHkwfr;ksa ds lkFk j[kk x;k gSA

fofo/kdEiuh dk fofo/k foHkkx fofo/k izdkj dh ikWfyfl;ksas dh laHkykbZ djrk gS ftUgsa dkWjiksjsV ds lkFk lkFk vyx vyx O;fDr;ksa nksa dh vko';drkvkas dh iwfrZ ds fy, rS;kj fd;k x;k gSA foHkkx vusd o"kkZsa ls fujarj ykHk iznku djrk jgk gSA o"kZ 2014&15 ds nkSjku fofo/k esa chekafdr dkjksckjh lsxeasV vkSj blds fu"iku dk laf{kIr fooj.k uhps fn;k x;k gSA

o"kZ 2014-15 ldy izhfe;e

¼djksM+ esa½

ldy mixr nkok vuqikr

(%)

fuoy mixr nkok

vuqikr(%)

nsunkjh 50.89 8.53 16.10

deZpkjh ykHk 80.25 18.32 18.12

O;fDrxr nq?kZVuk 149.37 60.29 57.66

vU; fofo/k¼vkjvkbZMh lfgr½

421.95 30.71 38.83

dEiuh vf/kfu;e esa gq, ifjorZuksa dh otg ls] tks dEiuh ds funs'kd eaMy ij vf/kd mRrjnkf;Ro vk;n djrs gSa] nsunkjh dkjksckj Hkkjrh; chek cktkj esa] fo'ks"kdj funs'kdksa vkSj vf/kdkfj;ksa dh nsunkjh ikWfylh tSlh ykbuksa esa rsth ls c<+ jgk gSA

tSlk fd vk'oklu fn;k x;k Fkk] o"kZ ds nkSjku foHkkx ubZ


new Jewelers Block Insurance Policy as well as cover for Medical Expenses Extension with the Employee Compensation Insurance Policy. Both these products are in great demand and we hope to capitalize on the same for improved growth .

During the year the department has also reviewed and increased underwriting capacities in certain segments/certain policies to help increased self retention of profitable premium at our end and also increase the volume growth.

The business of the department will continue to be guided along profitable lines during the current Financial Year and align with the Company’s objective of growth with profitability.

health Health Insurance business is one of the major portfolios of our Company. In recent years, it has shown tremendous potential in terms of its growth. The health business has been our constant growth driver and it also offers newer areas for insurance penetration. With increasing awareness and also government initiatives in introduction of various mass schemes and many State level policies for coverage of its population, health business is on its way to grow many folds in the coming years.

In 2014-15, Oriental’s Health Insurance premium was Rs. 1,98,753 lakhs.We have issued 12,94,700 policies covering 71,76,000 lives. There has been a steady growth in Retail, Group, Bancassurance and RSBY segment. The performance of the Health portfolio is as under for the year 2014-15.

HEALTH BUSINESS 2014-15 (EXCLUDING RSBY)Gross Premium(Rs. In Lakhs)

Net Premium

(Rs. In Lakhs)

Claims Incurred

Net (Rs. In Lakhs)

ICR (%)

198753 188818 203128 107.17%

In the year 2014-15, emphasis was given on profitability of the portfolio by prudent underwriting and control on the outgo. We have Board approved underwriting policy in place, business is written more prudently, conforming to our underwriting policy. We have proper division of authority for acceptance

T;wylZ CykWd chek ikWfylh ds lkFk lkFk deZpkjh {kfriwfrZ chek ikWfylh esa fpfdRlk [kpZ foLrkj ds fy, doj ds fy, fofu;ked dk vuqeksnu ikus esa lQy jgkA bu nksuksa mRiknksa dh cM+h ekax gS vkSj gesa mUur o`f) ds fy, bldk ykHk mBkus dh mEehn gSA

o"kZ ds nkSjku foHkkx us gekjh vksj ls ykHkizn izhfe;e ij laof/kZr Lo&izfr/kkj.k esa enn djus vkSj ek=k esa o`f) djus ds fy, Hkh dfri; lsxesaVksa@dfri; ikWfyfl;ksa esa tksf[ke vadu {kerkvksa dh leh{kk vkSj o`f) Hkh dh gSA

foHkkx dk dkjksckj pkyw o"kZ ds nkSjku ykHkizn ekxZ ij pyrk jgsxk vkSj dEiuh dh ykHkiznrk esa o`f) ds y{; esa lgk;d gksxkA

LokLF;LokLF; chek gekjh dEiuh ds cM+s foHkkxksas esas ls ,d gSA gky ds o"kksZa esa] blh o`f) ds fygkt ls blsa mYys[kuh; laHkkouk ns[kh xbZ gSA LokLF; foHkkx gekjk lrr o`f) lapkyd jgk gS vkSj ;g chek laj{k.k ds u, u, {ks= Hkh eqgS;k djkrk gSA c<+rh tkx:drk ds lkFk vkSj fofHkUu tu ;kstukvksa dh 'kq#vkr dh ljdkjh igyksa vkSj viuh truk dks dojsst iznku djus ds fy, jkT; Lrj dh vusd ikWfyfl;ksa ls Hkh] LokLF; dkjksckj vkus okys o"kksZas esa dbZ xq.kk c<+us ds ekxZ ij iz'kLr gSA

o"kZ 2014&15 esa, vksfj,.Vy dk LokLF; izhfe;e #- 1]98]753 yk[k FkkA geus thou 71]76]000 doj djrs gq, 12]94]700 ikWfyfl;ka tkjh dh gSaA [kqnjk] lewg] cSadk';ksjsal vkSj vkj,lchokbZ lsxesaV esa fLFkj of) jgh gSA o"kZ 2014&15 ds nkSjku LokLF; foHkkx dk izn'kZu fuEukuqlkj FkkA

LokLF; dkjksckj 2014&15 ¼vkj,lchokbZ ds vfrfjDR½ldy izhfe;e¼yk[k #i, esa½

fuoyizhfe;e

¼yk[k #i, esa½

mixr nkos fuoy ¼yk[k

#i, esa½

vkbZlhvkj (%)

198753 188818 203128 107.17%

o"kZ 2014&15 esa] foHkkx esa foosdiw.kZ tksf[ke vadu vkSj ifjO;; ij fu;a=.k }kjk ykHkiznrk ij tksj fn;k x;k gSA gekjs ikl cksMZ }kjk vuqeksfnr tksfk[ke vadu ikWfylh fo|eku gS] dkjksckj dk vadu vf/kd foosdiw.kZ rjhds ls fd;k tkrk gS tks gekjh tksf[ke vadu uhfr ds vuq:i gSA



73

tksf[ke dh Lohdfr vkSj tksf[ke ds ewY;fu/kkZj.k ds fy, gekjs ikl mi;qDr izHkkx gSA lewg mRiknksa ij /;kuiwoZd ekWuhVfjax dh tkrh gSA fiNys dqN o"kksZa ds nkSjku dM+h izfrLi/kkZ dh otg ls cktkj ds izR;{kr% vO;ogk;Z Lrj ij izpkfyr gksus ds ckotwn] geus viuh vkbZlhvkj vkSj la;qDr ykxrsa cjdjkj j[kh gSaA nkoksa ds ifjO;; ij vadq'k yxkus ds fy, iz.kkyh esa fofHkUu i)fr;ka vkjaHk dh xbZ gSA ftuesa ,evkbZ,l dk fo'ys"k.k] /kks[kk/kM+h ds fofHkUu lrØrk fcanqvksa dh igpku djuk vkSj fQj rnuqlkj iznRr nkoksa dk fo'ys"k.k fd;k tkuk 'kkfey gSA ,evkbZ,l dk fo'ys"k.k iznRr nkoksa ds vkadM+ksa esa izofRr vkSj Lo:i dh tkap djus ds fy, fd;k x;k gSA Mhvks vkSj vkjvks dh LFkkuh; LokLF; Vheksa dks vuqiwfjr djus ds fy, izeq[k dsanzksa esa LokLF; leh{kk Vheksa dh iqulZajpuk@lqn<+hdj.k fd;k x;k gS vkSj bUgksaus ykxrksa dks fu;af=r j[kus vkSj Vhih, ds fu"iknu ij fujarj utj j[kus esa mYys[kuh; ;ksxnku fn;kA

LokLF; fofu;eksa dh Hkkouk ds vuq:i] geus lHkh Vhih, ds lkFk lsok Lrj ds djkj fd, gSaA bu ,l,y, esa Vhih, dh 'kqYd lajpuk lfgr fu"iknu vkSj fMyhojh ra= ds lHkh ekunaM ifjHkkf"kr fd, x, gSaA ,sls fn'kkfunsZ'kksa ls okLro esa fofHkUu izfØ;kvksa ds dwVdj.k ds lkFk lkFk Vhih, ds lkis{k izpkyuksa@vkosnuksa dh ,d:irk lqfuf'pr djus esa Hkh lgk;rk feyh gSA vkbZvkjMh,vkbZ fofu;ekoyh, 2013 ds vuqlkj] nkoksa ds lalk/ku ds fy, fcanqokj foLrr lwpuk nsrs gq, nkok fn'kkfunsZ'k Hkh Vhih, dks fn, x, gSaA

LokLF; foHkkx }kjk vf/kekU; iznkrk usVoØ ladYiuk&ihih,u dk lqn<+hdj.k Hkh fd;k x;k gSA bl o"kZ ihih,u esa iq.ks vkSj t;iqj 2 u, 'kgj tksM+s x, gSa] tgka nkok ifjO;; dks fu;af=r djus ds fy, 112 ifjHkkf"kr lftZdy izfØ;kvksa ds fy, 2 o"kZ ds fy, igys ls r; dh xbZ njsa fu;r dh xbZ gSaA xSj&lewgc) izfØ;kvksa ds fy, Hkh ge vLirkyksa ls mudh izHkkjksa dh vuqlwph ij NwV ekaxrs jgs gSaA fnYyh@,ulhvkj esa] vLirkyksa dh njksa vkSj isuyhdj.k ds la'kks/ku dh 'kq#vkr dh xbZ gS vkSj ;g izfØ;k/khu gSA vLirkyksa ds la'kks/ku vkSj isuyhdj.k ds fy, viz;qDr vkadM+s Hkh vLirkyksa vkSj Vhih, ls ekaxs x, gSa rkfd dqN [kkl vLirkyksa esa jksfx;ksa dh vken ij vadq'k yxk;k tk lds vkSj ihih,u xfrfof/k ds fu"iknu dk fo'ys"k.k Hkh fd;k tk ldsA

LokLF; foHkkx ds fujarj dBksj Je vkSj leiZ.k ls] nkok viyksM bl o"kZ 99-3% lQy jgs gSa tks xr o"kZ esa bldh vis{kk cgqr de FksA tksf[ke vadu dk;kZy; vkSj Vhih, dk;kZy;

of risk and pricing of risk. Group products rating is monitored keenly. Despite the market apparently operating at an unviable level over the last few years due to intense competition, we have maintained our ICR and combined costs. Different methods have been introduced in the system to check the claims’ outgo, which includes, analysis of MIS, identifying various triggers for fraud and then analyzing the paid claims files accordingly. MIS have been analyzed to check the patterns and trends in the paid claims data. Health review teams have been constituted / strengthened across major centers to supplement the efforts of local health teams of DOs & ROs and they significantly contributed in containing the costs and keeping constant vigil on the performance of TPAs.

In conformity to the spirit of Health Regulations, we have entered into Service Level Agreement with all the TPAs. These SLAs define all the parameters of performance and delivery mechanism including the fee structure of TPAs. Such guidelines have really helped codifying the various processes as well as in ensuring uniformity of operations / applications viz a viz TPAs. Claims guidelines containing point wise detailed information for processing of claims has also been given to the TPAs, as per IRDAI Health Regulations, 2013.

Preferred Provider Network concept-PPN has also been strengthened by the Health Department. This year 2 new cities have been included in the PPN-Pune and Jaipur, where pre-negotiated rates have been fixed for 2 years for defined 112 surgical procedures for controlling claims outgo. For non-packaged procedures also we have been seeking discounts from the hospitals on their Schedule of Charges. In Delhi/ NCR, revision of rates and empanelment of hospitals has also been initiated and under process. Utilization data for revision and empanelment of hospitals has also been called from hospitals and TPAs to check the footfall of patients in particular hospitals and also to analyze the performance of PPN activity.

With the continuous hard work and dedication of Health Department, claims upload has been made 99.3% successful this year as compared to much lower uploads in the previous years. Data flow has been made smooth from both underwriting office and TPA office. This year we are planning to link our bank


nksuksa ls vkadM+ksa ds izokg dks lqpk# cuk;k x;k gSA bl o"kZ ge vius cSad [kkrksa dks Vhih, }kjk lalkf/kr nkoksa ls fyad djus dh ;kstuk cuk jgs gSa rkfd gekjs dsanzh; ,Iyhds'ku dk Vhih, iz.kkyh ds ,Iyhds'ku ds lkFk iw.kZ lVhd le; ,dhdj.k lqfuf'pr fd;k tk ldsA

fpfdRlk LQhfr izR;sd o"kZ yxHkx 18% dh nj ls c<+ jgh gSA ge vHkh Hkh 2010 dh njksa ds vuqlkj izhfe;e izHkkfjr dj jgs gSa] ftldk ifj.kke mPprj vkbZlhvkj ds :i esa gqvk gSA pkyw o"kZ esa] ge viuh O;fDrxr esMhDyse ikWfylh dk la'kks/ku djus vkSj ^^gkWfLiVy dS'k^^ ds rkSj ij u, LokLF; mRikn ds fy, vuqeksnu ikus esa Hkh l{ke jgs gSaA gSIih QSfeyh Q~yksVj dh njssa Hkh vkus okys eghuksa esa la'kksf/kr dh tk,axhA bu lcdk feykdj gekjh vkbZlhvkj ij ldkjkRed izHkko iM+sxkA

/kkj.kh; of) vkSj csgrj dkjksckjh O;ogk;Zrk n'kkZus ds fy, vadq'k yxk, x, gSaA vafre ij de ugha] LokLF; chek ds {ks= esa gekjs iz;klksa dh ekU;rk ds :i esa] gesa o"kZ 2014&15 ds fy, loksZRre LokLF; chek dEiuh gsrq vkmVyqd ,okMZ izkIr gqvk gSA

foi.ku & oSdfYid pSuy forj.k pSuycSadk';ksjsal dk fu"iknu

cSadk';ksjsal dk fu"iknu larks"ktud jgk gS vkSj bl pSuy ls dqy ;kasxnku #- 274-73 djksM+ Fkk vkSj u dsoy ekStwnk lg;ksx O;oLFkkvksa dks lqn`<+ cukus cfYd ubZ lg;ksx O;oLFkk,a vkjaHk djus ds iz;kl Hkh fd, tk jgs gSaA bl vof/k ds nkSjku cktkj ds lelkef;d mRiknksa ds vuq:i cukus ds fy, ekStwnk cSadk';ksjsal mRikn dk LrjksUu;u vkSj la'kks/ku djus ds mik; Hkh fd, x,A ,d ckj vkbZvkjMh,vkbZ esa vkosnu fd, tkus vkSj blds vuqeksfnr gks tkus ij] ;g dEiuh ds fy, vfrfjDr jktLo ysdj vk,xkA

,tsalh cy ¼izR;{k ,tsaVksa] ,th,uvkbZ vkSj ,vks ¼Mh½@,,e¼Mh½ ds varxZr ,tsaVksa vkSj fodkl foi.ku½ dk fu"iknu

bl pSuy ¼izR;{k ,tsaVksa] ,th,uvkbZ vkSj ,vks ¼Mh½@,,e¼Mh½ ds varxZr ,tsaVksa vkSj fodkl foi.ku½ dk dqy izhfe;e esa ;ksxnku 54% Fkk tks #- 4034 djksM+ curk gSA eq[;ky; }kjk vkjaHk fd, x, ,tsalh HkrhZ vfHk;ku ij ldkjkRed izfrfØ;k nsrs gq, izpkyfud dk;kZy;ksa us 4000 u, ,tsaVksa dh HkrhZ dhA ,tsaVksa ds fy, fofHkUu izksRlkgu ;kstukvksa dh 'kq#vkr vkSj izsjd cSBdksa ls mUgaas vius fu"iknu vkSj cktkj

accounts with TPA processed claims to ensure full real time integration of our core application with that of TPA system.

Medical Inflation is increasing approximately 18% every year. We are still charging premium as per 2010 rates, which has resulted in higher ICR. In the current year, we have been able to revise our Individual Mediclaim Policy and also got approval for a new Health Product as”Hospital Cash”. The rates of Happy Family Floater will also be revised in the coming months. These all together will have positive effect on our ICR.

Checks have been put in place to show sustainable growth and better business viability. Last but not the least, as a recognition of our efforts in the field of Health Insurance we have been awarded with Outlook Award for Best Health Insurance Company for 2014-15.

MaRKeting – alteRnate Channelsdistribution ChannelsPerformance of Banc assurance The performance of Bancassurance channel has been satisfactory and the total contribution from this channel was 274.73 Crores and efforts were made to not only strengthen the existing tie ups but also bring in the fold of the company new tie ups. Initiatives were also taken during this period to upgrade and revise the existing Bancassurance product to align with the contemporary products in the market. Once filed and approved by the IRDAI, it will bring in additional revenue to the company.

Performance of the agency force (direct agents, agni & agents under ao (d)/ aM(d) & development Marketing)

The contribution from this channel (Direct Agents, AGNI & Agents under AO (D)/ AM(D) & Development Marketing) to the total premium was 54% amounting to Rs.4034 Crores. Responding positively to the agency recruitment drive launched by Head Office, the operating offices recruited 4000 new agents. Introduction of various incentive schemes for the agents and motivational meetings have helped them to improve their performance and brand image of the company in the market. The functioning of various incentive schemes and clubs namely CMD and GM



75

club was exceptional during the FY 2013-14. 141 CMD club member agents and 209 GM club member agents contributed Rs.451 Crores with an average premium of Rs.1.29 Crores per agent. Looking to the exceptional performance of club member agents, we have revised their incentive scheme which will give a further impetus to their performance.

Performance of the BCs968 Business centres completed a premium of Rs.521 Crores with a Growth rate of 22%. 30 new Business centres were opened during the FY 2014-15. A new scheme of incentives has been implemented this year to encourage BC incharges to perform better. The tier wise number and premium performance of BCs is as undertieR no total 2014-15 2013-14 ACCR. GR%I 115 12042 10609 1433 13.51II 107 8414 7757 656 8.46III 353 18480 14532 3948 27.16IV 375 10939 7614 3325 43.67V 9 1026 871 155 17.76VI 9 1170 1222 -52 -4.29 968 52070 42606 9465 22.21

Performance of Brokers and Broker specialized offices

The company procured a premium of Rs.1007 Crs through the Brokers’ channel contributing 13.60% of total premium. Brokers Divisions at Mumbai & Bangalore completed a premium of Rs.214 Crs.. Looking to the focused growth of these specialized offices as a business strategy we have decided to upscale the operations to 3 more centres for which potential study is being carried out. Regular meetings with brokers & other relationship building exercises were carried out with this business source during the year under review.

Performance of CBUs06 Divisional offices have been designated as Corporate business units and they contributed a premium of Rs.274 Crores with a growth rate of 25.45% in 2014-15. The dedicated relationship teams at CBUs continue to

esa dEiuh dh czkaM best esa lq/kkj ykus esa enn feyh gSA foRr o"kZ 2013-14 ds nkSjku fofHkUu izksRlkgd Ldheksa vkSj Dycksa uker% lh,eMh vkSj th,e Dyc dk dkedkt vlk/kkj.k FkkA lh,eMh Dyc ds 141 lnL; ,tsaVksa vkSj th,e Dyc ds 209 lnL; ,tsaVksa us izfr ,tsaV #- 1-29 djksM+ ds vkSlr izhfe;e lfgr #- 451 djksM+ dk ;ksxnku fn;kA Dyc ds lnL; ,tsaVksa ds vlk/kkj.k izn'kZu dks ns[krs gq,] geus budh izksRlkgu ;kstuk esa la'kks/ku fd;k gS ftlls muds fu"iknu dks vkSj c<+kok feysxkA

dkjksckj dsanzksa dk fu"iknu

968 dkjksckj dsanzksa us dh 22%o`f) nj lfgr #- 521 djksM+ dk izhfe;e iwjk fd;kA foRr o"kZ 2014&15 ds nkSjku 30 u, dkjksckj dsanz [kksys x,A chlh izHkkfj;ksa dks csgrj izn'kZu ds fy, izksRlkfgr djus ds fy, izksRlkguksa dh ubZ ;kstuk dk;kZfUor dh xbZ gSA dkjksckj dsanzksa dh Lrj&okj la[;k vkSj izhfe;e fu"iknu fuEukuqlkj gS

Lrj la[;k dqy 2014-15 2013-14 ACCR. GR%I 115 12042 10609 1433 13.51II 107 8414 7757 656 8.46III 353 18480 14532 3948 27.16IV 375 10939 7614 3325 43.67V 9 1026 871 155 17.76VI 9 1170 1222 -52 -4.29 968 52070 42606 9465 22.21

czksdjksa vkSj czksdjksa ds fo'ks"kK dk;kZy;ksa dk fu"iknu

dEiuh us czksdjksa ds ek/;e ls #- 1007 djksM+ dk izhfe;e vftZr fd;k ftld dqy izhfe;e esa 13-60% ;ksxnku jgkA eqacbZ vkSj caxykSj fLFkr czksdj fMohtuksa us #- 214 djksM+ dk izhfe;e iwjk fd;kA bu fo'ks"kK dk;kZy;ksa dh dsafnzr o`f) dks ns[krs gq,] ,d dkjksckjh j.kuhfr ds rkSj ij] geus 3 vU; dsanzksa ds izpkyuksa dk LrjksUu;u djus dk fu.kZ; fy;k ftlds fy, laHkkouk v/;;u fd;k tk jgk gSA leh{kk/khu o"kZ ds nkSjku czksdjksa ds lkFk fu;fer cSBdas vkSj bl dkjksckj lzksr ds lkFk vU; laca/k fuekZ.k dok;nsas dh xbZaA

fuxfer dkjksckj izdks"Bksa dk fu"iknu06 izHkkxh; dk;kZy;ksa dks fuxfer dkjksckj izdks"Bksa ds


focus their efforts on corporate clients.

alternative channels, portal and online selling.

We have entered into an MOU with Common Service Centre Special Purpose Vehicle (CSC-SPV) for online sale of various products of the company through their Village Level Entrepreneurs (VLEs). Our INLIAS application is being integrated for issuance of online policies at CSC Portal. The business from this source is likely to start from April onwards.

Web portal of the company continue to provide efficient service to the customers and agents of the company fulfilling the promises of “Insurance Online – any place any time”. We have generated a premium of more than 44.26 crores with 142425 policies through Web portal.

CSCWe have entered into an MOU with Common Service Centre Special Purpose Vehicle (CSC-PSV) for online sale of various products of the company through their Village Level Entrepreneurs (VLEs)

:i esa ukfer fd;k gS vkSj bUgksaus o"kZ 2014&15 ds nkSjku 25-45% dh o`f) nj ls #- 274 djksM+ ds izhfe;e dk ;ksxnku fn;kA lhch;w esa izfrc) laca/k Vhesa vius iz;klksa dks fuxfer xzkgdksa ij dsafnzr djrh jghaA

oSdfYid pSuy] iksVZy vkSj vkWuykbu fcØhgeus xzke Lrjh; m|fe;ksa ¼oh,ybZ½ ds tfj, dEiuh ds fofHkUu mRiknksa dh vkWuykbu fcØh ds fy, dkWeu lfoZl lsaVj Lis'ky iiZt Oghdy ¼,llh&,lihoh½ ds lkFk ,d le>kkSrk Kkiu fd;k gSA lh,llh iksVZy ij vkWuykbu ikWfyfl;ka tkjh djus ds fy, gekjs vkbZ,u,yvkbZ,,l ,Iyhds'ku dks ,dhd`r fd;k tk jgk gSA bl lzksr ls dkjksckj vizSy ls vkjaHk gksus dh laHkkouk gSA

gekjh dEiuh dk csc iksVZy fujarj ^chek vkWuykbu & dgha Hkh dHkh Hkh^^ ds vk'okluksa dks iwjk djrs gq, dEiuh ds xzkgdksa vkSj ,tsaVksa dks dq'ky vkWuykbu lsok,a eqgS;k djk jgk gSA geus osc iksVZy ds tfj, 142425 ikWfyfl;ksa ls #- 44-26 djksM+ ls vf/kd dk izhfe;e vftZr fd;kA

lh,llhgeus xzke Lrjh; m|fe;ksa ¼oh,ybZ½ ds tfj, dEiuh ds fofHkUu mRiknksa dh vkWuykbu fcØh ds fy, dkWeu lfoZl lsaVj Lis'ky iiZt Oghdy ¼,llh&,lihoh½ ds lkFk ,d le>kkSrk Kkiu fd;k gSA



77

niRaJ KUMaR GENERAL MANAGER

uhjt dqekjegkizca/kd

tRainingThe ultimate aim & objective of training activity of any organization is to make the employees competitive, loyal & well acquainted with the required job skills so as to achieve Organizational Goals. With this basic philosophy in mind and taking into account the objective of training as laid down in the Corporate Vision Document (2011-2016), the Corporate Training Department has been constantly focusing on introducing new and innovative training programmes catering to the present and future training needs of the organisation.

In order to get the exposure in different areas of training, we impart training to our officers/employees as per the four tier training system consisting of :-

1. Oriental Staff Training College Faridabad and Chennai.

2. 24 Regional Training Centers covering 30 Regional Offices.

3. National Insurance Academy, Pune.

izf'k{k.kfdlh Hkh laxBu dh izf'k{k.k xfrfof/k dk vafre y{; vkSj mn~ns'; deZpkfj;ksa dks izfrLi/khZ] fu"Bkoku vkSj visf{kr dk;Z dkS'ky ds lkFk lqifjfpr cukuk gS rkfd laxBu ds y{; gkfly fd, tk ldsaA bl ewy n'kZu dks fnekx esa j[kdj vkSj fuxfer n`f"V nLrkost ¼2011&2016½ esa ;Fkk fu/kkZfjr izf'k{k.k ds y{; dks /;ku esa j[krs gq,] fuxfer izf'k{k.k foHkkx fujarj uohu vkSj izxfr'khy izf'k{k.k vkjaHk djus ij Qksdl djrk jgk gS tks laxBu dh orZeku vkSj Hkkoh vko';drkvksa dks iwjk dj ldsaA

izf'k{k.k ds fofHkUu {ks=ksa esa ,Dlikstj ikus ds mn~ns'; ls] ge pkj Lrjh; izf'k{k.k iz.kkyh ds vuqlkj vius vf/kdkfj;ksa@deZpkfj;ksa dks izf'k{k.k iznku djrs gSa] ftuesa 'kkfey gSa%&

1- vksfj,.Vy deZpkjh izf'k{k.k egkfo|ky;] Qjhnkckn vkSj psUubZA

2- 24 {ks=h; izf'k{k.k dsanz ftlds nk;js esa 30 {ks=h; dk;kZy; vkrs gSaA

3- jk"Vzh; chek vdkneh] iq.ksA


4. Other Professional Institutes like Institute of Actuaries of India, Insurance Institute of India, ICWA, Administrative Staff College of India, Hyderabad, FICCI, SCOPE, ISABS, ISTM, YMCA etc.

1(a) ostC FaRidaBadThe training programmes at OSTC are designed & planned in such a manner that the skills gap of officers can be addressed so that they can be equipped with necessary skills and knowledge required to perform their job more efficiently and enable them to remain ahead of their competitors. OSTC has conducted regular training programmes on Management Development, Basic Induction Training, Foundation Training, Orientation Training, Technical training, Refresher Courses, Transitional Training, Faculty development programmes and pre promotional training. Apart from training, the OSTC is also a resource & knowledge hub of the Company. Details of the training activities of OSTC are as under:-

training Programmes/ seminars/ Workshops conducted by ostC during 2014-15

izf'k{k.k dk;ZØeksa dh la[;k

no. of training Programmes

mifLFkr vf/kdkfj;ksa dh la[;k

no. of officers attended

dk;Z'kkykvksa@lsehukjksa dh la[;k

no. of workshops/seminars

mifLFkr vf/kdkfj;ksa dh la[;k

no. of officers attended

35 1161 9 347

4- vU; O;kolkf;d laLFkku tSls Hkkjrh; chekafdd laLFkku] Hkkjrh; chek laLFkku] vkbZlhMCY;w,] Hkkjrh; iz'kklfud LVkQ dkWyst] gSnjkckn] fQDdh] Ldksi] vkbZ,l,ch,l] vkbZ,lVh,] okbZ,elh, vkfnA

1¼d½ vks,lVhlh Qjhnkcknvks,lVhlh esa izf'k{k.k dk;ZØe bl rjhds ls rS;kj vkSj fu;ksftr fd, tkrs gSa fd vf/kdkfj;ksa ds dkS'ky laca/kh varj dk lek/kku fd;k tk ldrk gS rkfd mUgsa vkSj dq'kyrk ls vius dk;Z fu"ikfnr djus ds fy, visf{kr Kku vkSj vko';d dkS'kyksa ls ;qDr fd;k tk lds vkSj os vius izfrLif/kZ;ksa ls vkxs jgsaA vks,lVhlh us izca/ku fodkl] ewy lekos'k izf'k{k.k] QkmaMs'ku izf'k{k.k] vksfj,aVs'ku izf'k{k.k] rduhdh izf'k{k.k] iqu'p;kZ ikB~;Øe] ifjorhZ izf'k{k.k] ladk; fodkl dk;ZØe vkSj izksUufr iwoZ izf'k{k.kA izf'k{k.k ds vfrfjDr] vks,lVhlh dEiuh dk lalk/ku vkSj Kku dsanz Hkh gSA vks,lVhlh ds izf'k{k.k xfrfof/k;ksa dk C;kSjk fuEukuqlkj gS%&

o"kZ ds nkSjku vks,lVhlh }kjk vk;ksftr izf'k{k.k dk;ZØe@lsehukj@dk;Z'kkyk,a

dqytotal

vuq-tkfrsC

vuq-tu tkfr

st

vU; fiNM+s oxZ

oBC

lkekU;general

efgykFemale

'kkjhfjd :i ls fu%'kDrPhysically

Challenged

izf'kf{kr vf/kdkfj;ksa dh la[;kNo. of officers trained

1161 204 59 203 695 198 2

lsehukjksa@dk;Z'kkykvksa esa mifLFkr vf/kdkfj;ksa dh la[;kNo. of officers attended Seminars/ Workshop

347 66 29 62 190 60 0

dqyTotal

1508 270 88 265 885 258 2

Category-wise detail of officers trained in ostC 2014-15

vks,lVhlh 2014-15 esa izf'kf{kr vf/kdkfj;ksa dk Js.kh&okj C;kSjk



79

1(B) ostC, Chennai OSTC Chennai started functioning last year and caters to the training needs of the officers posted in the Southern Regions. It trained 207 officers through 11 sessions.

2. Regional tRaining CentResRegional Training Centers conduct regular training sessions for the employees in Class II, III , IV and partly Scale I cadres. For the first time, the RTCs initiated Pre-recruitment Training for SC / ST / OBC candidates appearing for the Direct Recruit Officers Examination. Following data summarizes the training activities in 2014-15:-

1-¼[k½ vks,lVhlh] psUubZ

vks,lVhlh psUubZ us fiNys o"kZ dk;Z djuk vkjaHk fd;k vkSj ;g nf{k.kh {ks=ksa esa fu;qDr vf/kdkfj;ksa dh izf'k{k.k laca/kh vko';drkvksa dh iwfrZ djrk gSA blus 11 l=ksa ds tfj, 207 vf/kdkfj;ksa dks izf'kf{kr fd;kA

2- {ks=h; izf'k{k.k dsanz

{ks=h; izf'k{k.k dsanz Js.kh II, III , IV vkSj va'kr% Lrj I laoxksZa ds deZpkfj;ksa ds fy, fu;fer izf'k{k.k l=ksa dk vk;kstu djrs gSaA igyh ckj] bu {ks=h; izf'k{k.k dasnzksa us lh/kh HkrhZ vf/kdjh ijh{kk ds fy, mifLFkr gksus okys ,llh@,lVh@vkschlh vH;fFkZ;ksa dk HkrhZ&iwoZ izf'k{k.k vkjaHk fd;kA fuEufyf[kr vkadM+ksa esa o"kZ 2014&15 dh izf'k{k.k xfrfof/k;ksa ds vkadM+ksa dk lkjka'k fn;k x;k gS%&

vk;ksftr l=ksa dh la[;kno. oF sessions CondUCted

Hkkxhnkjksa dh la[;k

total no. oF PaRtiCiPants

iq#"kMale

efgykFeMale

,llhsC

,lVhst

vkschlhoBC

lkekU;gen

345 7164 5856 1308 1733 559 1162 3710

3. national insURanCe aCadeMYNIA is a premier institute in the field of insurance education, training and research. 508 officers of the Company were trained in NIA through 80 sessions during 2014-15. The training for Retiring Executives conducted by NIA is utilized by the Company for the officers from Scale IV to Scale VII.

4. tRainings at otheR PRoFessional tRaining institUtesTo increase the effectiveness of training, Corporate Training Department constantly searches for innovative training programmes which are complimentary to the above programmes. As a result, the following institutes were roped in for conducting certain specialized trainings.

- indian society for applied Behavioral science (isaBs): 23 officers were trained by ISABS under its various behavioral Science labs.

- Pas/Pss training at YMCa, education Centre: 30 Stenographers were imparted training by YMCA.

3- jk"Vzh; chek vdkneh

,uvkbZ, chek f'k{k.k] izf'k{k.k vkSj vuqla/kku ds {ks= esa ,d izeq[k laLFkku gSA o"kZ 2014&15 ds nkSjku ,uvkbZ, esa 80 l=ksa ds ek/;e ls dEiuh ds 508 vf/kdkfj;ksa dks izf'kf{kr fd;k x;kA ,uvkbZ, }kjk vk;ksftr lsokfuo`Rr dk;Zdkjh vf/kdkfj;ksa ds fy, izf'k{k.k dk mi;ksx dEiuh }kjk Lrj IV ls Lrj VII ds vf/kdkfj;ksa ds fy, fd;k tkrk gSA

4- vU; O;kolkf;d izf'k{k.k laLFkkvksa esa izf'k{k.k

izf'k{k.k dh izHkkoksRikndrk esa o`f) djus ds fy,] fuxfer izf'k{k.k foHkkx fujarj izxfr'khy izf'k{k.k dk;ZØeksa dh [kkst djrk gS tks mi;qZDr dk;ZØeksa ds vuqiwjd gksrs gSaA ifj.kkeLo:i] dfri; fo'ks"kK izf'k{k.k vk;ksftr djus ds fy, fuEufyf[kr laLFkkvksa dks 'kkfey fd;k x;kA

&Hkkjrh; izk;ksfxd O;ogkj foKku lkslk;Vh (isaBs): ISABS }kjk viuh fofHkUu O;ogkj foKku iz;ksx'kkykvksa }kjk 23 vf/kdkfj;ksa dks izf'kf{kr fd;k tkrk gSA

okbZ,elh,] f'k{k.k dsanz esa ih,@ih,l izf'k{k.k%okbZ,elh, }kjk 30 vk'kqfyfidksa dks izf'k{k.k iznku fd;k x;kA


- institute of secretariat training & Management (istM): 05 officers were imparted a special training on Rti meant for CPios/Pios.

Various Professional Institutes trained 165 officers of the Company in 62 sessions.

The consolidated details of the employees trained during 2014-15 are as follows:-

lfpoky;h izf'k{k.k ,oa izca/ku laLFkku (istM): lhihvkbZvks@ihvkbZvks ds fy, vfHkizsr vkjVhvkbZ ij 05 vf/kdkfj;ksa dks fo'ks"k izf'k{k.k iznku fd;k tkrk gSA

fofHkUu O;kolkf;d laLFkkuksa us 62 l=ksa esa dEiuh ds 165 vf/kdkfj;ksa dks izf'kf{kr fd;kA

o"kZ 2014&15 ds nkSjku izf'kf{kr deZpkfj;ksa dk lesfdr C;kSjk fuEukuqlkj gS%&

dsanz Centers

izf'kf{kr vf/kdkfj;ksa@deZpkfj;ksa dh la[;kno. of officers/ employees trained

,uvkbZ,NIA

508

vks,lVhlh QjhnkcknOSTC Faridabad

1508

vks,lVhlh psUubZOSTC Chennai

207

vkjVhlhRTCs

7164

vU; O;kolkf;d laLFkkuOther Professional Institutes

165

dqyTotal

9552

CUstoMeR seRviCeConsumer grievance sensitivity of oiC:Oriental Insurance is sensitive towards the complaints and grievances of its customer. This is evident from the fact that for the second year in a row we surpassed the target of 98% disposal of grievances and achieved 99.55% disposal with a pendency of 0.45% only summarized as under:

xzkgd lsok

vksvkbZlh dh xzkgd f'kdk;r laosnu'khyrk%

vksfj,.Vy ba';ksjasl vius xzkgdksa dh f'kdk;rksa vkSj ifjosnukvksa ds izfr laosnh gSA ;g bl rF; ls Li"V gksrk gS fd geus yxkrkj nwljs o"kZ 98% ifjosnukvksa dk fuiVku fd;k vkSj dsoy 0-45% fopkjk/khurk lfgr 99-55% fuiVku gkfly fd;k ftldk lkjka'k fuEukuqlkj gS%

31-03-2014 ds vuqlkj vks@,lo/s as on 31.03.2014

2014&15 ds nkSjku lwfpr

Reported during 2014-15

2014-15 ds nkSjku fuiVkudisposed during 2014-15

31-03-2015 ds vuqlkj vks@,lo/s as on 31.03.2015

% fuiVku vuqikr% age disposal ratio

21 2438 2448 11 99.55%The efficiency parameters are highlighted below:

1. 22 RO"s achieved zero pendency of grievances at the end of 31st March 2015.

dq'kyrk ekunaMksa dks fuEukuqlkj js[kkafdr fd;k x;k gS%

1- 31 ekpZ 2015 ds var esa 22 vkjvks us 'kwU; fopkjk/khurk vftZr dhA



81

2. The Grievance Resolution System of OIC is such that each and every grievance gets a fair hearing. In case of claim related grievances, each and every claim is reviewed by a higher authority

3. The grievance sensitivity of the company and the effectiveness and quality of grievance handling can be judged from the fact that of the total grievances reported relating to claims, 32% were fully accepted and OIC gave the resolution in favour of the customer in case of delays or wrong denials. 8% grievances were partially accepted giving the benefit of doubt to the insured.

4. 59% grievances were found to be either beyond the scope of the policy or not reasonable. This goes to show that at the first place our claims handling is fair and no undue deductions or repudiations are made

ClaiM Related CoMPlaints oF oiC

5. A seminar on Health Insurance related grievances was held at Hyderabad with the Regional Grievance Nodal Officers and TPAs for better understanding and to create a joint strategy to effectively manage health related grievances.

6. Quarterly meeting are held with the TPAs to assess their performance in the handling and disposal of grievances.

7. Our Grievance Portal is regularly updated and made customer friendly. Our national Call Centre diligently answers to the call of the customer on all issues including grievances.

8. The Grievance Redressal Machinery of OIC is

2- vksvkbZlh dh ifjosnuk lek/kku iz.kkyh bl izdkj dh gS fd ,d ,d ifjosnuk dh fu"i{k lquokbZ dh tkrh gSA nkoksa ls lacaf/kr ifjosnukvksa ds ekeys esa] ,d&,d nkos dh leh{kk mPp izkf/kdkjh }kjk dh tkrh gSA

3- dEiuh dh ifjosnuk laosnu'khyrk vkSj ifjosnukvksa dh laHkykbZ dh izHkkoksRikndrk vkSj xq.koRrk dk fu.kZ; bl rF; ls fd;k tk ldrk gS fd nkoksa ls lacaf/kr lwfpr dqy ifjosnukvksa esa ls] 32% dks iw.kZr;k Lohd`r fd;k x;k vkSj vksvkbZlh us foyacksa ;k xyr budkj ds ekeys esa xzkgd ds i{k esa lek/kku fd;kA 8% izfr'kr ifjosnukvksa dks chfer dks lansg ykHk iznku djrs gq, vkaf'kd %i ls Lohd`r fd;k x;

4- 59% ifjosnuk,a ;k rks ikWyhlh ds Ldksi ls ijs ikbZ xbZa ;k vkSfpR;iw.kZ ugha ikbZ xbZaA ;g rF; n'kkZrk gS fd igyh ckj esa gekjh nkok laHkykbZ iz.kkyh fu"i{k gS vkSj dksbZ uktk;kt dVkSrh ;k vLohdj.k ugha fd;k tkrk gSA

vksvkbZlh dh nkoksa ls lacaf/kr f'kdk;rsa

5- LokLF; chek ls lacaf/kr ifjosnukvksa ij gSnjkckn esa {ks=h; ifjosnuk dsanzh; vf/kdkfj;ksa vkSj Vhih, ds lkFk ,d lsehukj vk;ksftr fd;k x;k rkfd LokLF; laca/kh ifjosnukvksa dk izHkkoh %i ls izca/ku djus ds fy, csgrj le> vkSj la;qDr j.kuhfr rS;kj dh tk ldsA

6- ifjosnukvksa dh laHkykbZ vkSj fuiVku esa Vhih, ds fu"iknu ds ewY;kadu ds fy, buds lkFk Vhih, ds lkFk frekgh cSBdsa vk;ksftr dh tkrh gSaA

7- gekjs ifjosnuk iksVZy dks fu;fer %i ls v|ru fd;k tkrk gS vkSj xzkgd&eSf=d cuk;k tkrk gSA gekjk jk"Vzh; dkWy lsaVj ifjosnukvksa lfgr lHkh eqn~nksa ij xzkgdksa dh dkWy dk rRijrk ls mRrj nsrk gSA

8- vksvkbZlh dh ifjosnuk fuokj.k iz.kkyh xzkgdksa

iw.kZ Lohd`r

vkaf'kd Lohd`r

vLohd`r

yafcr f'kdk;rsa


effective, efficient and responsive to the needs of the customers; putting in time and effort at all levels to ensure that an aggrieved customer feels wanted and cared for.

PRodUCt develoPMentOne of the significant areas of activity during 2014-15 has been devising new products and modification of existing products including its repricing. The efforts put in this period has brought significant results, with two of the three products filed being approved by the Regulator. These are Individual Mediclaim Policy and Oriental Happy Cash Policy . Happy Family Floater 2015 (revised version of existing HFF Policy) has also been filed and is awaiting approval. It has been a challenge, as focus was to improve the product features while maintaining price competitiveness so as to supplement the process of market growth.

Initial focus of the department is on the Health products as these are the ones contributing significantly to Company"s financial results and the stage was reached when premium revision was required. The product features also needed an upgrade due to existing market requirements. Presently we are focusing on devising a Global Health product for High Net worth individuals (HNIs), revision of Bancassurance health policies, Householders" and Shopkeepers" Package products.

RisK ManageMentWhile continuing with the vibrant mode of risk management activities in the department, following two important milestones have been achieved-

1. Implementation of Fraud Risk Management Framework

2. Initiation of ERM (Enterprise Risk Management) implementation

Fraud Risk Management FrameworkAs envisaged in the Board approved Fraud Risk Management Policy the management framework has been implemented. Fraud Risk Management Manual has been compiled on the basis of inputs received from various departments. A Fraud Cases

dh vko';drkvksa ds izfr izHkkoh] dk;Zdq'ky vkSj izfrfØ;koknh gS¼ ftlesa ;s lqfuf'pr djus ds fy, lHkh Lrjksa ij le; vkSj iz;kl yxk, tkrs gSa fd ihfM+r xzkgd okafNr vkSj lajf{kr eglwl djsA

mRikn fodkl

o"kZ 2014&15 ds nkSjku xfrfof/k;ksa ds mYys[kuh; {ks=ksa esa ls ,d u, mRikn fodflr djuk vkSj blds iqu%ewY; fu/kkZfj.k lfgr ekStnk mRiknksa dk la'kks/ku djuk gSA bl vof/k ds nkSjku fd, x, iz;klksa ds mYys[kuh; ifj.kke lkeus vk, gSa] vkSj izLrqr fd, x, rhu esa ls nks mRiknksa dks fofu;ked }kjk Lohd`r fd;k x;k gSA ;s gSa O;fDrxr esfMDyse ikWyhlh vkSj vksfj,.Vy gSIih dS'k ikWfylh A gSIih QSfeyh Q~yksVj 2015 ¼ekStwnk ,p,Q,Q uhfr dk la'kksf/kr laLdj.k½ Hkh izLrqr fd;k x;k gS vkSj blds vuqeksnu dh izrh{kk gSA ;g ,d pqukSrh jgk gS] D;ksafd gekjk Qksdl cktkj o`f) dh izfØ;k dks vuqiwfjr djus ds mn~ns'; ls ewY; izfrLi/kkZRedrk vuqjf{kr djus ds lkFk lkFk mRikn ds xq.kksa dks mUur cukus ij jgk gSA

foHkkx dk izkjafHkd Qksdl LokLF; mRiknksa ij gS D;ksafd ;s mRikn dEiuh ds foRrh; ifj.kkeksa esa mYys[kuh; ;ksxnku ns jgs gSa vkSj ;g voLFkk rc izkIr gqbZ tc izhfe;e la'kks/ku visf{kr FkkA ekStwnk cktkj vis{kkvksa dh otg ls mRikn fo'ks"krkvksa dk LrjksUu;u djus dh Hkh vko';drk FkhA orZeku esa ge mPp fuoy ewY; O;fDr;ksa ¼,p,uvkbZ½ ds fy, oSf'or LokLF; mRikn fodflr djus] cSadk';ksjsal LokLF; ikWfyfl;ksa ds la'kks/ku] ?kjsyw vkSj nqdkunkjksa ds iSdst mRikn fodflr djus ij Qksdl dj jgs gSaA

tksf[ke izca/ku

foHkkx esa tksf[ke izca/ku xfrfof/k;ksa ds xfr'khy ek/;e dks tkjh j[krs gq,] fuEufyf[kr nks egRoiw.kZ y{; gkfly fd, x, gSa -

1- /kks[kk/kMh tksf[ke izca/ku :ijs[kk dk dk;kZUo;u

2- bZvkj,e ¼m|e tksf[ke izca/ku½ dk;kZUo;u vkjaHk djuk

/kks[kk/kMh tksf[ke izca/ku :ijs[kk

tSlk fd cksMZ }kjk vuqeksfnr /kks[kk/kM+h tksf[ke izca/ku uhfr esa ifjdfYir fd;k x;k gS] izca/ku :ijs[kk dk dk;kZUo;u fd;k x;k gSA fofHkUu foHkkxksa ls izkIr lq>koksa ds vk/kkj ij /kks[kk/kM+h tksf[ke izca/ku esuqvy ladfyr fd;k x;k gSA



83

Review Committee has been formed to look into all issues related to fraud risk

enterprise Risk ManagementThe matter of engaging consultant for ERM implementation was concluded in this financial year by engaging services of M/S PwC. They would be working as common consultant for National Insurance and United India Insurance as well. First phase of implementation has begun with the project launch meeting on 8th April 2015 which was attended by CMD, GMs, DGMs and Chief Managers of Head Office.

ERM framework and its implementation would be done in five phases, scheduled to be completed within six months. These will include project kick-off meetings, Risk Identification, Risk Assessment & Prioritization, Risk Mitigation, Developing ERM policies and reporting

CoRPoRate soCial ResPonsiBilitYORIENTAL INSURANCE has undertaken CSR Activities in accordance with Section 135 of Companies Act, 2013 for thrust areas listed under Schedule VII notified by Gazette Notification no. G.S.R. 129(E) dated 27th February, 2014, issued by Ministry of Corporate Affairs and amendments thereof. Accordingly, The CSR Committee (a Sub-Committee of the Board of Directors of the Company) was constituted in the Financial Year 2014-15. The CSR Sub-Committee of the Board and Board of Directors has approved the CSR Policy of the Company on 23rd September, 2014. Budget of Rs. 7.92 crores was allocated for CSR activities for the FY 2014-15.

The Company started its CSR initiatives on 12th September, 2014, the Founder"s day of the Company, by organizing an Educational Trip at Azad Hind Gram for the children living in orphanages run by the Delhi Government, Department of Women and Child Development. The Company also contributed to PM"s initiative of ‘Swach Bharat Abhiyan" & ‘Clean Ganga Mission". The Company contributed funds for relief and rehabilitation of victims of J & K Floods, Hud Hud Cyclone, Assam and Meghalaya Floods. The Company provided daily infrastructure requirements of Old Age homes in New Delhi.

/kks[kk/kM+h ds tksf[ke ls lacaf/kr lHkh eqn~nksa ij /;ku nsus ds fy, ,d /kks[kk/kM+h ekeyksa dh leh{kk lfefr xfBr dh xbZ gSA

m|e tksf[ke izca/ku

bZvkj,e dk;kZUo;u ds fy, ijke'kZnkrk fu;ksftr djus ds ekeys dks bl foRr o"kZ esa eSllZ ihMCY;wlh ds lsok,a fofu;ksftr djds vafre :i fn;k x;kA ;s jk"Vzh; chek vkSj lkFk gh ;wukbVsM chek ds fy, lk>s ijke'kZnkrk fudk; ds :i esa dke djsaxsA dk;kZUo;u dk izFke pj.k 8 vizSy 2015 dks ifj;kstuk vkjaHk gksus dh cSBd ls 'kq: gqvk ftlesa v/;{k ,oa izca/k funs'kd] egkizca/kdksa] miegkizca/kdksa vkSj eq[;ky;ksa ds eq[; izca/kdksa us Hkkx fy;kA

bZvkj,e :ijs[kk vkSj bldk dk;kZUo;u ikap pj.kksa esa fd;k tk,xk] tks Ng eghus esa iwjk fd;k tkuk fu/kkZfjr gSA buesa ifj;kstuk vkjaHk gksus ds le; dh cSBdsa] tksf[ke igpku] tksf[ke vkdyu vkSj izkFkfedrk] tksf[ke 'keu] bZvkj,e ikWfyfl;ka fodflr djuk vkSj lwpuk nsuk 'kkfey gksxkA

fuxfer lkekftd mRrjnkf;Ro

vksfj,.Vy ba';ksjsal us fuxfer dk;Z ea=ky; }kjk fnukad 27 Qjojh 2014 dh vf/klwpuk la[;k th,lvkj 129¼E½ }kjk vf/kwlfpr vuqlwph VII vkSj blds la'kks/kuksa ds rgr lwphc) izkFkfedrk okys {ks=ksa ds fy, dEiuh vf/kfu;e] 2013 dh /kkjk 135 ds vuqlkj lh,lvkj xfrfof/k;ka vkjaHk dh gSaA rnuqlkj foRr o"kZ 2014&15 esa lh,lvkj lfefr ¼dEiuh ds funs'kd eaMy dh mi&lfefr½ dk xBu fd;k x;kA cksMZ dh lh,lvkj mi&lfefr vkSj funs'kd eaMy us fnukad 23 flracj] 2014 dks lh,lvkj uhfr vuqeksfnr dh gSA foRr o"kZ 2014&15 ds fy, lh,lvkj xfrfof/k;ksa ds fy, #- 7-92 djksM+ vkoafVr fd, x,A

dEiuh us viuh lh,lvkj xfrfof/k;ka dEiuh ds LFkkiuk fnol] fnukad 12 flracj] 2014 dks fnYyh ljdkj] efgyk ,oa cky dY;k.k foHkkx }kjk pyk, tk jgs vukFkky;ksa eas jgus okys cPpksa ds fy, vktkn fgan xzke dh 'kS{kf.kd ;k=k vk;kaftr djds vkjaHk dhA dEiuh us iz/kku ea=h ds ^LoPN Hkkjr vfHk;ku* vkSj ^LoPN xaxk vfHk;ku* esa Hkh ;ksxnku fn;kA dEiuh us tEew d'ehj dh ck<+] gqn gqn rwQku] vle vkSj es?kky; dh ck<+ksa ds fy, fuf/k;ksa dk ;ksxnku fn;kA dEiuh us ubZ fnYyh esa o`)kJeksa dh nSfud volajpuk laca/kh vko';drk,a eqgS;k djkbZaA


K. K. RaoGENERAL MANAGER

ds-ds- jkoegkizca/kd

Many large industrial and commercial groups in India operate with Mumbai as Headquarters. While the list is very big, prominent among these industrial houses are the Tatas, Ambanis, Ruias etc. Thus substantial portion of insurance business, particularly General Insurance, is transacted from Mumbai. The following table gives the importance to Mumbai as a market for General Insurance Cos.

PsU Cos. no. of Ros.

Premium all india

Premium of Mumbai

%

National 3 11257 1726 15New India 7 13209 3674 28United India

3 10692 1336 13

Oriental 4 7408 1345 18

In view of the importance of Mumbai as a market and to ensure more prompt and immediate response to the market demands, Oriental has opened a General Manager's Office in the year 2013 with a posting of GM and 2 Officers. In July 2014, GM Office strength was augmented with posting of additional officers (present strength is 6). After this

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ih,l;w dEifu;ka

vkjvks dh la[;k

vf[ky Hkkjrh; izhfe;e

eqEcbZ dk izhfe;e

%

jk"Vzh; 3 11257 1726 15

U;w bafM;k 7 13209 3674 28

;qukbVsM bafM;k

3 10692 1336 13

vksfj,.Vy 4 7408 1345 18

,d cktkj ds rkSj ij eqacbZ dh egRrk dks ns[krs gq, vkSj cktkj dh ekaxksa ij rRij vkSj rqjar izfrfØ;k lqfuf'pr djus ds fy,] vksfj,.Vy us o"kZ 2013 esa egkizca/kd vkSj 2 vf/kdkfj;ksa dh fu;qfDr ds lkFk egkizca/kd dk ,d dk;kZy; [kksyk gSA tqykbZ 2014 esa vfrfjDr vf/kdkfj;ksa dh fu;qfDr djds egkizca/kd dk;kZy; dk lqn`<+hdj.k



85

all decisions of underwriting and claims pertaining to 4 Regional Offices of Mumbai are being attended to by GM Office.

The target for Offices in Mumbai is Rs. 1577 Crs. For 2015-16 with growth rate of 20 %. The main focus would be on developing Motor tie-up business in Mumbai and also develop numbers & nurturing strong agency force for retail marketing.

fd;k x;k ¼orZeku {kerk 6 gS½A blds ckn eqacbZ ds 4 {ks=h; dk;kZy;ksa ls lacaf/kr fuEukuadu vkSj nkoksa dk fu.kZ; egkizca/k ds dk;kZy; }kjk fd;k tk jgk gSA

o"kZ 2015-16 ds fy, eqacbZ esa dk;kZy;ksa ls lacaf/kr y{; 20%

dh o`f) nj lfgr #- 1577 djksM+ gSA blds fy, izeq[k :i ls Qksdl eqacbZ esa eksVj chek xBca/ku dkjksckj fodflr djus vkSj lkFk gh jhVsy ekdsZfVax ds fy, la[;k,a fodflr djus vkSj etcwr ,tsalh cy dks iksf"kr djus ij Hkh jgsxkA


P. K. Bhagat GENERAL MANAGER

ih-ds- Hkxregkizca/kd

estate & estaBlishMent dePaRtMentManagement of Company owned PropertyRigorous efforts are being made to facelift all our Company Owned Premises and modernize them with all necessary amenities. All Company Owned Flats at Delhi and other locations in the Country have been maintained to the best of standards to ensure full occupant satisfaction and efforts are being made to have optimum utilization of the properties. In addition to this, legal issues are being rigorously followed up on day-to-day basis to ensure that the interest of the Company is fully protected. Estate Department has digitalized the Title Deeds of Company Owned Properties to ensure safe upkeep of ownership records.

Renovation of office PremisesIt has been the Endeavour of our Estate Department to renovate and modernize all its offices across the Country. In this direction, we have renovated the newly acquired premises at Aggarwal House, Asaf Ali Road, New Delhi; part of the premises situated on Ground Floor, Oriental House, Head Office, New

lEink ,oa LFkkiuk foHkkx

dEiuh ds LokfeRo okyh lEifRr dk izca/ku

dEiuh ds LokfeRo okys lHkh ifjljksa dh lkt&lTtk vkSj budk lHkh vko';d lq[k&lqfo/kkvksa ds lkFk vk/kqfudhdj.k djus ds fy, dBksj iz;kl fd, tk jgs gSaA fnYyh vkSj ns'k ds vU; LFkkuksa ij fLFkr dEiuh ds LokfeRo okys lHkh Q~ySVksa dk vuqj{k.k loksZRre ekunaMksa ds vuq:i fd;k tk jgk gS rkfd vf/kHkksfx;ksa dh iw.kZ larqf"V dh tk lds vkSj lEifRr;ksa dh bZ"Vre mi;ksfxrk gkfly djus ds iz;kl fd, tk jgs gSaA blds vfrfjDr] dkuwuh eqn~nksa dk dBksjriwoZd fnu&izfrfnu vk/kkj ij vuqlj.k fd;k tkrk gS rkfd ;g lqfuf'pr fd;k tk lds fd dEiuh ds fgrksa dk iw.kZ laj{k.k fd;k tk ldsA lEink foHkkx us LokfeRo ds vfHkys[kksa dks lqjf{kr rjhds ls j[k&j[kko djus ds fy, dEiuh ds LokfeRo okyh lEifRr;ksa ds 'kh"kZ foys[kksa dk fMthyVkbts'ku fd;k gSA

dEiuh ds ifjljksa dk uohdj.k

gekjs lEink foHkkx dk iz;kl ns'k Hkj esa vius lHkh dk;kZy;ksa dk uohdj.k vkSj vk/kqfudhdj.k djus dk jgk gSA bl fn'kk



87

Delhi and the premises of MRO II, Mumbai as well as newly set up GM’s Office at Mumbai.

Purchase of Property by the CompanyIn continuation of the initiatives taken during previous years, enormous efforts have been made during this fiscal to purchase Commercial as well as Residential Properties in all parts of the Country to house our Offices and provide suitable accommodation to employees of various cadres. In this direction, the Company has been able to purchase the following properties from State Bodies or Govt. Companies:-

y Purchase of additional 3 No. Independent Houses at Naya Raipur from Chhattisgarh Housing Board

y Purchase of 5 No. Type D Residential Flats from NBCC in NBCC Green View Apartments, Sector 37D, Gurgaon

y Purchase of Commercial Space of 13,318 sq.ft. & 31 Covered Car Parkings from NBCC in NBCC Centre, Phase I, Okhla, New Delhi

y Purchase of Commercial Space of 9,180 sq.ft. from NBCC in NBCC Centre, Lal Kothi Scheme, Jaipur

y Purchase of Commercial Space of 2356 sq.ft. & 2 Covered Car Parkings in NBCC Plaza, Karelibaug, Vadodara

y Booking of 20,000 sq. ft. of Commercial Space & 25 Reserved Car Parkings from Tamil Nadu Housing Board at SAF Games Village Commercial Site – I, Koyambedu, Chennai to house RO Chennai, CBRO & RTC Chennai.

y Purchase of additional 45,000 sq.ft. Commercial Space & 125 Covered Car Parkings from NBCC in Kidwai Nagar (East), New Delhi.

office Premises – lease MattersOur efforts to sensitize officers in Estate Dept. all over India by conducting Estate Workshops have started paying dividends and there has been remarkable improvement in renewal of Lease Matters. Most of the Lease Agreements are being renewed in time

esa] geus vxzoky gkml] vklQ vyh jksM+] ubZ fnYyh fLFkr u, vf/kxzghr ifjlj¼ Hkwry] vkfj,.Vy gkml eq[;ky;] ubZ fnYyh ds Hkkx vkSj ,evkjvks AA] eqacbZ ds lkFk lkFk eqacbZ fLFkr egkizca/kd ds dk;kZy; dk uohdj.k fd;k gSA

dEiuh }kjk lEifRr dh [kjhn

xr o"kZ ds nkSjku dh xbZ igyksa dh fujarjrk esa] gekjs lHkh dk;kZy;ksa dks LFkku eqgS;k djkus vkSj fofHkUu laoxksZa ds deZpkfj;ksa dks mi;qDr vkokl miyC/k djkus ds fy, ns'k ds lHkh Hkkxksa esa vkoklh; lEifRr;ksa ds lkFk&lkFk okf.kfT;d lEifRr;ksa dh [kjhn ds fy, bl foRr o"kZ ds nkSjku vR;f/kd iz;kl fd, x, gSaA bl fn'kk esa] dEiuh jkT; fudk;ksa ;k ljdkjh dEifu;ksa ls fuEuf[kr lEifRr;ksa dks [kjhnus esa lQy jgh gS%&

NRrhlx<+ gkmflax cksMZ ls u;k jk;iqj esa 3 vfrfjDr u, edkuksa dh [kjhnA

,uchlhlh xzhu O;w ,ikVZesaV~l] lsDVj 37Mh] xqM+xkao esa ,uchlhlh ls Vkbi Mh ds 5 vkoklh; Q~ySVksa dh [kjhnA

,uchlhlh ls ,uchlhlh lsaVj] QstA] vks[kyk] ubZ fnYyh esa 13]318 oxZ QqV okf.kfT;d LFky vkSj 31 doMZ dkj ikfØax dh [kjhnA

,uchlhl lsaVj] yky dksBh Ldhe] t;iqj esa ,uchlhlh ls 9]180 oxZ QqV okf.kft;d LFky dh [kjhn

,uchlhlh Iyktk] djsyhckx] oM+ksnjk esa 2356 oxZ QqV okf.kfT;d LFky vkSj 2 doMZ ikfØax dh [kjhn

vkjvks psUubZ] lhchvkjvks vkSj vkjVhlh psUubZ dks LFkku eqgS;k djkus ds fy, lSQ xsEl foist okf.kfT;d LFky & A] dks;EcsMq] psUubZ esa rfeyukMq gkmflax cksMZ ls 20]000 oxZ QqV okf.kfT;d LFky vkSj 25 vkjf{kr dkj ikfØax dh cqfdax

fdnobZ uxj ¼bZLV½] ubZ fnYyh esa ,uchlhlh ls 45]000 oxZ QqV okf.kfT;d LFky vkSj 125 doMZ ikfØax dh [kjhn

dk;kZy; ifjlj & yht ekeys

gekjk iz;kl iwjs Hkkjr esa lEink dk;Z'kkyk,a vkjaHk djds lEink foHkkx ds vf/kdkfj;ksa dks laosnh cukus dk gS] bl iz;kl us ykHk iznku djuk vkjaHk dj fn;k gS vkSj yht ekeyksa ds uohdj.k esa mYys[kuh; lq/kkj jgk gSA vf/kdka'k yht djkjksa dk uohdj.k lekfIr ls igys le; jgrs fd;k tk jgk gS ftldk ifj.kke HkkM+s ds O;; esas gqbZ cpr ds


before expiry, resulting in savings in rental outgo.

To provide better amenities to our employees as well as customers and minimize the rental outgo, shifting was allowed in 31 cases and 3 premises were surrendered.

oFFiCial langUage iMPleMentationIt has been Company’s continuous endeavor to encourage the use of Hindi in day-to-day office work in accordance with the Official Language policy of the Government of India. In the field of original correspondence in Hindi and compliance of section 3 (3) of the Official Language Act of Government of India, we have made a notable progress during the year. We, in the Company, are committed to meet the insurance requirements of all our corporate and individual clients through their own language. In coordination with Department of Science and Technical terminology, Ministry of Human Resource Development, Government of India, Company has published the “Standard Insurance Glossary”. A house magazine “Oriental Samvaad” is also being published quarterly at Head Office level.

During the year 2014-15, Secretary (OL), Official Language Department, Ministry of Home Affairs inspected our Company’s Head office.

During 15-29 September, 2014 “Hindi Fortnight” and on 15th September, 2014 “Hindi Day” was organized in all the Offices of the Company. Large number of employees participated and won prizes in various Hindi Competitions organized during the Fortnight.

Right to inFoRMationOriental Insurance was one of the pioneers of decentralizing the RTI matters, way back in the year 2009. As a result, RTI Applications as well as First Appeals thereon are received both at Head Office and various Regional Offices across the length and breadth of the country. We have separate Central Public Information Officers (CPIOs) and First Appellate Authorities (FAAs) for Head Office and each of our Regional Offices. RTI matters are promptly attended to and expeditiously disposed of within the statutory time.

:i esa gqvk gSA

gekjs deZpkfj;ksa ds lkFk&lkFk xzkgdksa dks csgrj lq[k&lqfo/kk,a eqgS;k djkus vkSj HkkM+s ds O;; dks U;wure djus ds fy,] 31 ekeyksa esa f'kfQ~Vax dh vuqefr nh xbZ vkSj 3 ifjlj okil fd, x,A

jktHkk"kk dk;kZUo;ugekjh daiuh Hkkjr ljdkj dh jktHkk"kk uhfr ds vuqlkj nSfud dk;kZy;hu dkedkt esa fganh ds ç;ksx dks c<+kok nsus ds fy, fy, fujarj ç;Ru'khy gSA geus o"kZ ds nkSjku Hkkjr ljdkj dh jktHkk"kk uhfr ds vuqikyu esa jktHkk"kk vf/kfu;e dh /kkjk 3 ¼3½ dk iw.kZ :i ls ikyu djus ds lkFk gh fganh esa ewy i=kpkj ds ekeys esa mYys[kuh; çxfr dh gSA ge vius lHkh d‚jiksjsV vkSj O;fäxr xzkgdksa dh chek vko';drkvksa dks iwjk djus ds fy, mudh Hkk"kk esa laokn djus ds fy, lnSo çfrc) gSaA dfeZ;ksa dks fganh Hkk"kk] vk'kqfyfi o Vad.k çf'k{k.k fn;k tk jgk gSA oSKkfud ,oa rduhdh 'kCnkoyh vk;ksx] ekuo lalk/ku fodkl ea=ky;] Hkkjr ljdkj ds lg;ksx ls daiuh us ^*ekud chek 'kCnkoyh** dk çdk'ku fd;k gSA daiuh ds ç/kku dk;kZy; Lrj ls x`g if=dk ^vksfj,.Vy laokn* dk Hkh =Sekfld çdk'ku fd;k tk jgk gSA

o"kZ 2014&15 ds nkSjku lfpo ¼jktHkk"kk½] jktHkk"kk foHkkx] x`g ea=ky; us gekjh daiuh ds ç/kku dk;kZy; dk fujh{k.k fd;kA

daiuh ds fofHkUu dk;kZy;ksa esa 15 ls 29 flracj 2014 ds nkSjku fganh i[kokM+k o 15 flracj 2014 dks fganh fnol dk vk;kstu fd;k x;kA fganh i[kokMs ds nkSjku vk;ksftr dh xbZ fofHkUu fganh çfr;ksfxrkvksa esa dfeZ;ksa us cM+h la[;k esa Hkkx fy;k o iqjLdkj çkIr fd,A

lwpuk dk vf/kdkj

vksfj,.Vy ba';ksjsal dkQh igys o"kZ 2009 esa vkjVhvkbZ ekeyksa ds fodsanzhdj.k esa vxz.kh fudk;ksa esa ls gSA ifj.kkeLo:i] vkjVhvkbZ vkosnuksa ds lkFk lkFk mu ij izFke vihysa Hkh eq[;ky; vkSj ns'k Hkj esa fofHkUu {ks=h; dk;kZy;ksa nksuksa esa izkIr fd, tkrs gSaA gekjs eq[;ky; vkSj izR;sd {ks=h; dk;kZy; esa i`Fkd&i`Fkd dsanzh; yksd lwpuk vf/kdkjh ¼lhihvkbZvks½ vkSj izFke vihyh; izkf/kdkjh gSaA vkjVhvkbZ ekeyksa ij rRijrk ls dkjZokbZ dh tkrh gS vkSj budk fuiVku lkafof/kd le; ds Hkhrj rsth ls fd;k tkrk gSA



89

Mandatory disclosures as required by Sec. 4 (1) (b) of the Right to Information Act 2005 have been made and information put on the website of the company. Likewise, statistical data with respect to the RTI Department is being regularly uploaded on quarterly basis on the website of the Central Information Commission.

Details of RTI Applications and First Appeals received and dealt with by our various Offices all over India is as under:

applications appealsTotal Applications/Appeals received by the Company (01/04/2014 to 31/03/2015)

2141 278

Total Applications/Appeals disposed of by the Company (01/04/2014 to 31/03/2015)

2002 255

Apart from receiving Applications/Appeals, Officials of RTI Department at Head Office and Regional Offices, are also attending various Hearings held by Central Information Commission. All the orders of the CIC as well as various directives issued by it from time to time are being complied with in letter and spirit.

We have integrated our system for online filing of RTI applications/appeals as per directions of Ministry of Finance, Department of Financial Services.

lwpuk vf/kdkj vf/kfu;e 2005 dh /kkjk 4 ¼1½ ¼[k½ }kjk ;Fkksisf{kr vfu;k;Z izdVhdj.k fd, x, gSa vkSj lwpuk dEiuh dh osclkbV ij j[kh xbZ gSA blh izdkj] vkjVhvkbZ foHkkx ds laca/k esa lkaf[;dh; vkadM+ksa dks dsanzh; lwpuk vk;ksx dh osclkbV ij frekgh vk/kkj ij fu;fer :i ls viyksM fd;k tkrk gSA

leLr Hkkjr esa gekjs fofHkUu dk;kZy;ksa }kjk izkIr vkSj dkjZokbZ fd, x, vkjVhvkbZ vkosnuksa vkSj izFke vihyksa dk C;kSjk fuEukuqlkj gS%

vkosnu vihysadEiuh }kjk izkIr dqy vkosnu@vihysa¼01-04-2014 ls 31-03-2015½

2141 278

dEiuh }kjk fuiVk, x, dqy vkosnu@vihysa¼01-04-2014 ls 31-03-2015½

2002 255

vkosnu@vihysa izkIr djus ds vfrfjDr] eq[;ky vkSj {ks=h; dk;kZy;ksa ds vkjVhvkbZ foHkkxksa ds vf/kdkjh Hkh dsanzh; lrØrk vk;ksx }kjk dh xbZ fofHkUu lquokb;ksa esa mifLFkr gks jgs gSaA lhvkbZlh ds lHkh vkns'kksa ds lkFk lkFk le; le; ij buds }kjk tkjh fofHkUu funs'kksa dk v{kj'k% vuqikyu fd;k tk jgk gSA

geus foRr ea=ky;] foRrh; lsok,a foHkkx ds funs'kksa ds vuqlkj vkjVhvkbZ vkosnuksa@vihyksa dh vkWuykbu Qkbfyax ds fy, viuh iz.kkyh dk ,dhdj.k fd;k gSA


P. senthilKUMaR GENERAL MANAGER

hUMan ResoURCes:Human Resource Department continued its efforts to improve organizational efficiencies with optimum HR intervention. The Department continued robust activities of recruitment to meet the shortfall in the Operational Offices. Sincere efforts are being made to improve the motivational levels of the work force by making relevant changes in the performance appraisal management system and promotion policy. The Department reviews and implements legislations to determine HR impact and ensure that all relevant procedures, policies and practices are in compliance.

hR dePtt. (Class i Cell):In the Promotion Exercise 2014-15 Promotion Orders were released in the month of August"14, up to Scale V in Class I Cadre. The number of promotions declared were as under :the cadre to which promoted

no. of Promotions declared

Scale I to Scale II 173Scale II to Scale III 96Scale III to Scale IV 38Scale IV to Scale V 17

ekuo lalk/ku%

ekuo lalk/ku foHkkx fujarj bZ"Vre ,pvkj gLrk{ksi ds lkFk iz'kklfud dq'kyrkvksa esa lq/kkj ds fy, fujarj iz;kljr gSA foHkkx us izpkyfud dk;kZy;ksa esa deh dks iwjk djus ds fy, HkrhZ esa lqn`<+ xfrfof/k;ka tkjh j[khaA fu"iknu ewY;kadu izca/ku iz.kkyh vkSj izksUufr uhfr esa izklafxd ifjorZu djds dk;Z cy ds izksRlkgu Lrjksa esa lq/kkj ykus ds fy, fo'oluh; iz;kl fd, tk jgs gSaA ,pvkj izHkko dks fu/kkZfjr djus ds fy, foHkkxh; leh{kkvksa vkSj dk;kZUo;u fo/kkuksa ls lqfuf'pr gksrk gS fd lHkh izklafxd izfØ;kvksa] uhfr;ksa vkSj ifjikfV;ksa dk vuqikyu fd;k tk jgk gSA

ekuo lalk/ku foHkkx ¼Js.khA izdks"B½%

izksUufr dkjZokbZ 2014&15 esa vxLr] 14 ds eghus esa Js.kh I laoxZ esa Ldsy V rd ds fy, izksUufr vkns'k tkjh fd, x, FksA ?kksf"kr izksUufr;ksa dh la[;k fuEukuqlkj Fkh%

ftl laoxZ esa izksUufr gqbZ ?kksf"kr izksUufr;ksa dh la[;kLdsy I Lks Ldsy II 173Ldsy II Lks Ldsy III 96Ldsy III Lks Ldsy IV 38Ldsy IV Lks Ldsy V 17

Ldsy VI ls VII Ldsy ds laoxZ esa izksUufr;ksa dh izfØ;k le;

ih- lsafFkydqekjegkizca/kd



91

Promotions to the cadre of Scale VI & Scale VII have been completed in time and the promoted officers joined in promoted cadre by 15.06.2014.

The Promotion Exercise 2015-16 has been initiated and the Online Test is proposed to be conducted in May 2015.

Cda Cell :CVC guidelines states that Enquiry Proceedings should preferably be completed within 6 months from the date of appointment of Enquiry / Presenting Officer.

For speedy disposal of CDA cases, initiatives were taken to create in-house panel of Enquiry / Presenting Officers during 2014-15. Each Regional Office nominated 5 officers under their respective Regional Office to empanel as Enquiry / Presenting Officer. It was decided to impart training to all empanelled Officers on Zonal Basis. Two days workshop was organized for North Zone Regional Offices from 22.08.2014 to 23.08.2014 at Delhi. Similarly, two days workshop was organized for West Zone Regional Offices from 11.09.2014 to 12.09.2014 at Panchgani, Pune. Further, rigorous follow up was done with Regional Offices to ensure timely completion of enquiry proceedings. As a result of the initiatives taken, only four Vigilance cases were pending at Enquiry stage for more than six months as on 31.03.2015.

Out of the above stated 4 cases, 1 case is pending due to stay order granted by the Hon"ble Court. In remaining 3 cases, either the case arose out of CBI investigation or there is composite enquiry involving more than one charged officials and large volume of documents and witnesses.

Brief on Welfare matters for sC/st employees:For welfare of SC/ST, in accordance with the policy of the Government of India, a SC/ST cell is functioning in the Company at HO to ensure that the Rules and Regulation on Reservation Policy are implemented. The SC/ST Cell has Chief Liaison Officer, Liaison Officer and Addl. Liaison Officer posted at Head Office. A Liaison Officer is also posted in each

ij iwjh dh xbZ gS vkSj izksUur vf/kdkfj;ksa us izksUufr ds laoxZ esa fnukad 15-06-2014 rd viuk dk;ZHkkj xzg.k dj fy;k gSA

izksUufr izfØ;k 2015&16 vkjaHk dh tk pqdh gS vkSj vkWuykbu ijh{kk ebZ 2015 esa vk;ksftr gksuh izLrkfor gSA

lhMh, izdks"B%

lhohlh ds fn'kkfunsZ'kksa esa mYys[k fd;k x;k gS fd tkap dk;Zokfg;kas dks vf/kekur% tkap@izLrqrdrkZ vf/kdkjh dh fu;qfDr dh rkjh[k ls 6 eghus ds Hkhrj iwjh dh tkuh pkfg,A

lhMh, ekeyksa ds rhoz fuiVku ds fy,] o"kZ 2014&15 ds nkSjku tkap@izLrqrdrkZ vf/kdkfj;ksa dk foHkkxh; isuy lftr fd;k x;k FkkA izR;sd {ks=h; vf/kdkjh us vius {ks=h; dk;kZy; ds v/khu 5 vf/kdkfj;ksa dks tkap@izLrqrdrkZ vf/kdkjh ds :i esa isuy esa 'kkfey djus ds fy, igysa dh xbZaA isuy esa 'kkfey fd, x, lHkh vf/kdkfj;ksa dks tksu ds vk/kkj ij izf'k{k.k iznku djus dk fu.kZ; fy;k x;kA mRrjh tksu ds {ks=h; vf/kdkfj;ksa ds fy, fnukad 22-08-2014 ls 23-08-2014 rd fnYyh esa nks fnolh; dk;Z'kkyk vk;ksftr dh xbZA blh izdkj] if'peh tksu ds {ks=h; vf/kdkfj;ksa ds fy, fnukad 11-09-2014 ls 12-09-2014 rd iapxuh] iq.ks esa nks fnolh; dk;Z'kkyk vk;ksftr dh xbZA

blds vfrfjDr] tkap dk;Zokfg;ka le; ij iwjh dh tkuh lqfuf'pr djus ds fy, {ks=h; vf/kdkfj;ksa ds lkFk dBksj vuqlj.k dkjZokbZ dh xbZA dh xbZ igyksa ds ifj.kkeLo:i] fnukad 31-03-2015 dks dsoy pkj lrØrk ekeys Ng eghus ls vf/kd le; ls tkap Lrj ij yafcr FksA

mijksfYyf[kr 4 ekeyksa esa ls] 1 ekeyk ekuuh; U;k;ky; }kjk fn, x, LFkxukns'k dh otg ls yafcr gSA 'ks"k 3 ekeyksa esa ;k rks ekeyk lhchvkbZ tkap ds ifj.kkeLo:i] mRiUu gqvk ;k blesa la;qDr tkap py jgh gS ftlesa ,d ls vf/kd izHkkjh vf/kdkjh vkSj Hkkjh la[;k esa nLrkost vkSj xokg 'kkfey gSaA

vuqlwfpr tkfr@vuq- tutkfr ds deZpkfj;ksa ds dY;k.k laca/kh ekeyksa ij laf{kIr fooj.k%

vuqlwfpr tkfr@vuq- tutkfr dY;k.k ds fy,] Hkkjr ljdkj dh uhfr ds vuqlkj] dEiuh esa eq[;ky; esa ;g lqfuf'pr djus ds fy, ,d vuqlwfpr tkfr@vuq- tutkfr izdks"B dke dj jgk gS fd vkj{k.k uhfr laca/kh fu;eksa vkSj fofu;eksa dk vuqikyu fd;k tk jgk gSA vuqlwfpr tkfr@vuq- tutkfr esa eq[;ky; esa rSukr ,d eq[; lEiØ vf/kdkjh] lEiØ vf/kdkjh vkSj


of our Regional Offices to ensure implementation of Reservation Policy at Region level and also prompt disposal of their grievances. SC/ST Cell at HO scrutinizes and consolidates the statistical data with regards to SC/ST Employees. The Liaison Officer examines and rectifies, wherever necessary, the roster maintained by Regional Offices for ensuring proper representation to SCs/STs as provided by Reservation Policy and guidelines issued from time to time by DOPT. The SC/ST Cell provides relevant information to the Company and Regional Offices. The SC/ST Cell at HO takes care of redressal of grievances of SC/ST Employees in order to have cordial relations and healthy environment for working of SC/ST Employees. It also co-ordinates with the National Commission for Scheduled Castes, Scheduled Tribes and the Parliamentary Committee on the implementation of Reservation Policy and to provide all necessary data/support for resolving all the queries/grievances raised by SC/ST Employees/Welfare Associations.

Rosters inspection by the MinistryDeptt. of Financial Services, Ministry of Finance has Reviewed the Implementation of Reservation Policy in the Oriental Insurance Company Ltd. on 15/04/2015 and on inspection our Rosters were found satisfactory.

MeetingsThe Company has in place “Structured Meetings Scheme' in which the Management meets various representative bodies of employees periodically in order to discuss and resolve issues on service matters and welfare issues.

trainingsCompany organized Pre-Recruitment Training programs for the SC/ST/OBC candidates and 636 candidates availed the benefit from the same.

During promotion exercise 2015-16, the officers in various Scales were imparted pre-promotion training to equip them to appear in On-Line Test. The number of SC/ST officers scale-wise who were imparted training is as under:-

vfrfjDr lEiØ vf/kdkjh gSA ,d lEiØ vf/kdkjh gekjs izR;sd {ks=h; dk;kZy; esa Hkh rSukr gS tks {ks=h; Lrj ij vkj{k.k uhfr dk dk;kZUo;u vkSj mudh ifjosnukvksa dk rRijrk ls fuokj.k Hkh lqfuf'pr djrk gSA eq[;ky; fLFkr vuqlwfpr tkfr@vuq- tutkfr izdks"B vuqlwfpr tkfr@vuq- tutkfr deZpkfj;ksa ds laca/k esa lkaf[;dh; vkadM+ksa dh tkap djds budk lesdu djrk gSA lEiØ vf/kdkjh] tgka dgha vko';d gks] {ks=h; dk;kZy;ksa }kjk vuqjf{kr jksLVj dh tkap vkSj lq/kkj djrk gS rkfd vkj{k.k uhfr vkSj MhvksihVh }kjk le; le; ij tkjh fn'kkufunsZ'kksa ds izko/kkuksa ds vuqlkj vuqlwfpr tkfr@vuq- tutkfr;ksa dk mi;qDr izfrfuf/kRo lqfuf'pr fd;k tk ldsA vuqlwfpr tkfr@vuq- tutkfr izdks"B dEiuh vksj {ks=h; dk;kzy;ksa dks izklafxd lwpuk eqgS;k djkrk gSA eq[;ky; fLFkr vuqlwfpr tkfr@vuq- tutkfr izdks"B vuqlwfpr tkfr@vuq- tutkfr deZpkfj;ksa dh ifjosnukvksa ds fujkdj.k dk /;ku j[krk gS rkfd vuqlwfpr tkfr@vuq- tutkfr deZpkfj;ksa ds dke&dkt ds fy, lksgknZziw.kZ laca/k vkSj LoLFk ekgkSy eqgS;k djk;k tk ldsA ;g izdks"B jk"Vzh; vuqlwfpr tkfr] vuq- tutkfr vk;ksx vkSj vkj{k.k uhfr ds dk;kZUo;u ij lalnh; lfefr ds lkFk leUo; Hkh djrk gS vkSj vuqlwfpr tkfr@vuq- tutkfr deZpkfj;ksa@dY;k.k la?kksa }kjk mBkbZ xbZ lHkh vkifRr;ksa@ifjosnukvksa ds lek/kku ds fy, lHkh lacaf/kr vkadM+s@leFkZu iznku djrk gSA

ea=ky; }kjk jksLVjksa dk fujh{k.k

foRrh; lsok,a foHkkx] foRr ea=ky; us fnukad 15-04-2015 dks vksfj,.Vy ba';ksjsal dEiuh fyfeVsM esa vkj{k.k uhfr ds dk;kZUo;u dh leh{kk dh gS vkSj fujh{k.k fd, tkus ij gekjs jksLVj larks"ktud ik, x,A

cSBdsa

dEiuh esa ^^lajfpr cSBd ;kstuk^^ fo|eku gS ftlesa izca/ku lsok ekeyksa vkSj dY;k.k laca/kh eqn~nksa ij ppkZ djus vkSj eqn~nksa ds lek/kku ds fy, deZpkfj;ksa ds izfrfuf/k fudk;ksa ds lkFk vkof/kd :i ls cSBdsa djrk gSA

izf'k{k.k

dEiuh us vuqlwfpr tkfr@vuq- tutkfr@vU; fiNM+s oxZ ds vH;fFkZ;ksa ds fy, HkrhZ&iwoZ izf'k{k.k dk;ZØe vk;ksftr fd, vkSj 636 vH;fFkZ;ksa us budk ykHk mBk;kA

izksUufr izfØ;k 2015-16 ds nkSjku] fofHkUu Lrjksa ds vf/kdkfj;ksa dks vkWu&ykbu ijh{kk esa 'kkfey gksus ds fy, izksUufr&iwoZ izf'k{k.k iznku fd;k x;kA vuqlwfpr tkfr@vuq- tutkfr ds ftu vf/kdkfj;ksa dks izf'k{k.k iznku fd;k x;k mudh la[;k fuEukuqlkj gS%&



93

Scale I to II : 348Scale II to III : 106Scale III to IV: 122Scale IV to V: 44

In order to upgrade their skills, SC/ST/OBC employees were nominated to various in-house training programs as well as programs conducted by renowned agencies. The number of Officers who were nominated for training at OSTC, Faridabad are as follows:-

Ldsy I Lks Ldsy II % 348Ldsy II Lks Ldsy III % 106Ldsy III Lks Ldsy IV % 122Ldsy IV Lks Ldsy V % 44

vuqlwfpr tkfr@vuq- tutkfr@vU; fiNM+s oxksZa ds deZpkfj;ksa ds dkS'ky dks mUur cukus ds mn~ns'; ls] bUgsa fofHkUu foHkkxh; izf'k{k.k dk;ZØeksa ds lkFk lkFk iz[;kr ,tsafl;ksa }kjk vk;ksftr dk;ZØeksa esa Hkh ukfer fd;k x;kA vks,lVhlh] Qjhnkckn esa ftu vf/kdkfj;ksa dks izf'k{k.k gsrq ukfer fd;k x;k] mudk C;kSjk fuEukuqlkj gS%&

dqytotal

vuq-tkfrsC

vuq-tu tkfrst

vU; fiNM+s oxZoBC

lkekU;general

efgykFemale

'kkjhfjd :i ls fu%'kDrPhysically Challenged

izf'kf{kr vf/kdkfj;ksa dh la[;kNo. of officers trained

1161 204 59 203 695 198 2

lsehukjksa@dk;Z'kkykvksa esa mifLFkr vf/kdkfj;ksa dh la[;kNo. of officers attended Seminars/ Workshop

347 66 29 62 190 60 0

dqyTotal

1508 270 88 265 885 258 2

Zone-wise training programs were arranged on Reservation Rosters for ROs" Liaison Officers and dealing officers of Personnel Deptt., posted in Regional Offices to ensure preparation of Rosters, as per rules. The company has placed Rosters" on the website.

Class-wise sC/st representation in the Company is as under:

Class total sC stClass-I 5285 1161 344Class-II 1413 163 44Class-III 6028 1413 509Class-IV 1848 875 136TOTAL 14574 3612 1033

diReCt ReCRUitMentThe Company has formulated the Recruitment plans consistent with the approved policy and

fu;ekuqlkj jksLVj rS;kj fd;k tkuk lqfuf'pr djus ds fy,] vkjvks ds lEiØ vf/kdkfj;ksa vkSj dkfeZd foHkkx ds lacaf/kr vf/kdkfj;ksa ds fy, vkj{k.k jksLVjksa ds laca/k esa tksu&okj izf'k{k.k dk;ZØeksa dh O;oLFkk dh xbZA dEiuh us ;s jkslVj osclkbV ij Mkys gSaA

dEiuh esa vuqlwfpr tkfr@vuq- tutkfr izfrfuf/kRo dk Js.kh7okj izfrfuf/kRo fuEukuqlkj gS%

Js.kh dqy vuqlwfpr tkfr

vuqlwfpr tutkfr

Js.kh -I 5285 1161 344

Js.kh -II 1413 163 44

Js.kh -III 6028 1413 509

Js.kh -IV 1848 875 136

dqy 14574 3612 1033

lh/kh HkrhZdEiuh xzkgd lsok ds mUur Lrj vuqjf{kr djus ds fy,


dk;kZy;ksa dks izfrHkkoku vf/kdkfj;ksa vkSj deZpkfj;ksa ls lqlfTtr djus ds fy, bPNqd gS vkSj vuqeksfnr uhfr ds vuq:i HkrhZ ;kstuk,a fu:fir dh gSaA Hkrh dh lrr izfØ;k ls py jgh dVkSrh vkSj lsokfuo`fRr dh otg ls mRiUu ekuo'kfDr dh dfe;ksa dks iwjk fd;k tk,xk vkSj dEiuh dh foLrkj ;kstuk,a Hkh iwjh gksaxhA iz'kklfud vf/kdkfj;ksa ds fy, HkrhZ dkjZokbZ 2012&13 Ldsy– I ds 177 vf/kdkfj;ksa dh HkrhZ ls iwjh dh xbZ ftuesa 95 lkekU; vkSj fofHkUu 'kk[kkvksa esa 82 fo'ks"kK vf/kdkjh 'kkfey gSaA

izksUufr;ka

dEiuh us fu"iknu ewY;kadu iz.kkyh esa lq/kkj ds mik; fd, gSa vkSj o"kZ 2014&15 Js.kh III vkSj IV ds fy, fu"iknu ewY;kaduksa ds dk;kZUo;u dk izFke o"kZ FkkA Js.kh III ls Js.kh I esa izksUufr izfØ;k le; lkj.kh ds vuqlkj vk;ksftr dh xbZ vkSj 100 deZpkfj;ksa dks Js.kh I esa izksUur fd;k x;kA Js.kh III

esa 69 deZpkfj;ksa dks ofj"B lgk;dksa vkSj 99 dks lgk;dksa ds :i esa izksUur fd;k x;kA

fu;fer izfØ;k ds vfrfjDr 72 vH;fFkZ;ksa dks lgk;dksa ds laoxZ esa izksUufr dh ,d ckj dh izfØ;k ds rgr izksUur fd;k x;kA

ekuo lalk/ku izca/ku iz.kkyh ¼,pvkj,e,l½

geus ekuo lalk/ku laca/kh lHkh xfrfof/k;ksa dks Lopkfyr djus ds fy, ,d Bksl ekuo lalk/ku izca/ku iz.kkyh dh ,d egRokdka{kh ifj;kstuk vkjaHk dh gSA

foRr o"kZ 2014&15 ds nkSjku] cM+h la[;k esa izfriwfrZ@vfxze ekWM~;wy ¼LFkkuh; okgu] R;kSgkj vfxze] vkoklh; fpfdRlk vuqnku] funs'kdksa dh fpfdRldh; [kpksZa dh izfriwfrZ] VsyhQksu [kpksZa dh izfriwfrZ] eksckby midj.k dh ykxr] lekpkj i= izfriwofrZ vkSj okgu vfxze½ vkSj vksvkbZbZMCY;w,l ekWM~;wy vkjaHk fd, x, vkSj lHkh ekWM~;wyksa dk lQyrkiwoZd dk;kZUo;u fd;k x;kA vkoklh; _.k ekM~;wy dks lkbu vkWQ fd;k tk pqdk gS vkSj ;g vkjaHk fd, tkus ds fy, rS;kj gSA dqN vU; izeq[k ekWM~;wy tSls vuqifLFkfr izca/ku] ,yVh,l] VhbZ fcy] izf'k{k.k] Hkfo"; fuf/k] ifjogu ;kstuk 9A(V) vkSj fofHkUu okgu vuqj{k.k izfriwfrZ;ka iz;ksDrk Lohd`fr ijh{k.k dh lekfIr dh vfxze voLFkk esa gSaA fQygky gekjk tksj Xykscy isjksy dh ijh{k.k vkSj bls vkjaHk djus ij gS] ftlesa dEiuh ds lHkh deZpkfj;ksa ds osruksa dks eq[;ky; esa lalkf/kr fd;k tk,xkA

strives to equip the offices with talented officers and staff to maintain improved levels of Customer Service. The continuous process of recruitment will make good the manpower shortages caused due to ongoing attrition and retirement and also meet the Company"s expansion plans. The Recruitment Exercise 2012-13 for Administrative officers concluded with induction of 177 Scale – I officers which included 95 Generalists and 82 Specialists in various streams.

PRoMotionsThe Company has made efforts to improve Performance Appraisal System and the year 2014-15 was the first year of implementation of Disclosures of Performance Appraisal for Class III and IV. Promotional Exercise from Class III to Class I was conducted as per Schedule and 100 employees were promoted to Class-I. Within Class III 69 employees were promoted as Senior Assistants and 99 as Assistant.

Apart from the regular exercise 72 candidates were promoted under One Time Exercise for Promotion to the cadre of Assistants.

hUMan ResoURCe ManageMent sYsteM (hRMs)We have embarked upon an ambitious Project of a robust Human Resources Management System to automate all the HR related activities. During the Financial Year 2014-15, a number of Reimbursement/Advance Modules (Local Conveyance, Festival Advance, Natural Calamity Advance, Briefcase Reimbursement, Domiciliary Medical Grant, Directors Medical Expenses Reimbursement, Telephone Expenses Reimbursement, Cost of Mobile instrument, Newspaper Reimbursements & Vehicle Advance) and OIEWS Modules were rolled out and all the modules were successfully implemented. Housing Loan module has been signed off and is ready for roll out. Some other major modules like Absence Management, LTS, TE Bills, Training, Provident Fund, Conveyance Scheme 9A(V) & various Vehicle maintenance reimbursements are in the advanced stage of completion of user acceptance testing. Presently our major thrust is



95

,d ckj ,pvkj,e,l ds lHkh ekWM~;wy dk;kZfUor gksus ij] ;g iz.kkyh izca/ku dks vR;ar ewY;oku lwpuk eqgS;k djk,xh vkSj ekuo'kfDr dks vU; dkeksa ls fuo`Rr djds Rofjr fu.kZ;u izfØ;k dks lqxe cuk,xhA

isa'ku foHkkx%o"kZ esa isa'ku ;kstuk vkjaHk fd, tkus ls] ,d i`Fkd foHkkx isa'ku fuf/k dk izca/ku dj jgk gS ftldk vkdkj foRr o"kZ 2014&15 dh lekfIr ij #- 2080-43 djksM+ FkkA fnukad 31 ekpZ 2015 rd isa'ku dk fodYi pquus okys deZpkfj;ksa dh dqy la[;k 9942 gS vkSj isa'ku/kkjdksa dh la[;k 7672 gSA

foRr o"kZ 2014&15 ds nkSjku] geus isa'ku dh 350 vkSj ikfjokfjd isa'ku dh 170 Qkbysa lalkf/kr dh gSa ftudk leorhZ ys[kkijh{kdksa }kjk fu;fer :i ls ys[kk ijh{k.k fd;k tkrk gSA

geus lHkh {ks=h; dk;kZy;ksa dks nk;js esa ysrs gq, pkjksa eaMyksa esa isa'ku dk;Z'kkyk,a lQyrkiwoZd vk;ksftr dh gSa ftuesa fo"k; ls lacaf/kr vf/kdkfj;ksa dks laosnh cuk;k x;k rkfd ^^fe'ku 30 fnu^^ ds y{;ksa dks gkfly fd;k tk ldsA gekjh ifjikVh jgh gS fd lsokfuo`Rr gksus okys deZpkfj;ksa dh {ks=okj lwph ,d eghuk vfxze :i ls Hksth tk,A

Hkkjrh; thou chek fuxe ls yh xbZ lewg vf/kokf"kZrk egaxkbZ lac) ikWfylh ¼th,lMh,yds½ us #- 6-42 djksM+ C;kt vftZr fd;k gSA ;g lqfo/kk Hkfo"; esa Hkh tkjh jgsxhA

ubZ isa'ku ;kstuk%ubZ isa'ku ;kstuk ¼,uih,l½] tks ,d va'knk;h ykHk ;kstuk gS] 1 tuojh] 2004 dks ;k blds ckn lsok esa vkus okys deZpkfj;ksa ds fy, vkjaHk dh xbZ] dkuwuh eqn~nksa dh otg ls iw.kZr;k ykxw ugha dh tk ldhA rFkkfi] lnL;ksa }kjk fd, tk jgs va'knku dks dEiuh ds fuos'k iksVZQksfy;ks ij vftZr vkSlr ds vk/kkj ij x.kuk fd, x, C;kt lfgr ,d vyx fuf/k esa j[kk tk jgk gSA bl ;kstuk ds v/khu lafpr dqy fuf/k 31ekpZ] 2015 dh fLFkfr ds vuqlkj #-32-00 djksM+ gSA ,d ckj dkuwuh eqn~ns lekIr gks tkus ij] lafpr fuf/k dks isa'ku fuf/k fofu;ked ,oa fodkl izkf/kdj.k (PFRDA) dks varfjr dj fn;k tk,xkA

vkoklh; _.k foHkkx%dEiuh esa] lHkh deZpkfj;ksa dks Nr eqgS;k djkus ds vfHk;ku ds Hkkx ds :i esa] vius deZpkfj;ksa dks lfClMh&izkIr njksa

on testing and rolling out of Global Payroll, where the processing of the salaries for all the employees of the Company shall happen at Head Office. Once all the modules of HRMS are implemented, this system will provide the information of immense value to the Management and facilitate quick decision making besides relieving manpower for other assignments.

Pension dePaRtMent :Since the introduction of the pension scheme in the year 1995, a separate department is managing the pension fund which has a size of Rs.2080.43 crores at the end of F.Y.-2014-15. The total number of employees who have opted for pension as on 31 March 2015 is 9942 and that of pensioners is 7672.

During the financial year 2014-15, we have processed 350 pension and 170 family pension files which are regularly audited by concurrent auditors.

We have successfully conducted pension workshops in all the four zones covering all Regional Offices sensitizing the officers dealing with the subject so as to accomplish “Mission 30 days' target and this has proved fruitful. We have a practice of sending the region wise list of retiring employees a month in advance.

The Group Superannuation Dearness Linked Policy(GSDLK) taken from LIC has yielded an interest of Rs.6.42cr. This facility will continue in future as well.

neW Pension sCheMe :The New Pension Scheme (NPS), which is a contributory benefit scheme, started for employees joining on or after Jan 1, 2004 could not be implemented in toto because of legal issues. However, contributions made by the members are being retained in a separate fund together with interest calculated on the basis of average yield on investment portfolio of the Company. The total fund accumulated under this scheme as on Mar 31, 2015 is Rs.32.00cr. Once the legal issues are over, the accumulated fund will be transferred to the Pension Fund Regulatory and Development Authority (PFRDA).


hoUsing loan dePaRtMent:The Company has a separate Housing Loan Department for the sanction of Housing Loan to its employees at subsidized rates, with the mission to provide a roof to all employees. The sanction of Housing Loan has been decentralized to the Regional Office level and separate rationalized budget is provided to them by Head Office for the sanction of loan to its employees. However, the Head Office has control over them and keeps on providing them with the necessary advices. Most of the employees in the Company have availed the benefit of Company"s Housing Loan Scheme.

During the F.Y.2014-15, total Scheme Loan sanctioned to the employees was for Rs.6.65 Crs. During the same period, Rs.7.67 Crores was recovered as Scheme Loan from the employees and an interest of Rs.3.71 Crores was earned on the same.

ij vkoklh; _.k eqgS;k djkus ds fy, ,d i`Fkd vkoklh; _.k foHkkx gSA

vkoklh; _.k dh laLohd`fr dh 'kfDr {ks=h; dk;kZy; Lrj ij fodsafnzr dh tk pqdh gS vkSj vius deZpkfj;ksa dks _.k laLohd`r djus ds fy, eq[;ky; }kjk bugsa vyx vkSfpR;iw.kZ ctV eqgS;k djk;k x;k gSA rFkkfi] eq[;ky; bu ij fu;a=.k j[krk gS vkSj bUgsa vko';d lykg iznku djrk jgrk gSA dEiuh ds vf/kdka'k deZpkjh dEiuh dh vkoklh; _.k ;kstuk ls ykHkkfUor gq, gSaA

foRr o"kZ 2014&15 ds nkSjku] deZpkfj;ksa dks laLohd`r dqy ;kstuk _.k #- 6-65 djksM+ FkkA blh vof/k ds nkSjku deZpkfj;ksa ls ;kstuk _.k ds rkSj ij #- 7-67 djksM+ olwy fd, x, vkSj bu ij #- 3-71 djksM+ C;kt vftZr fd;k x;kA



97

B. n. PRasad GENERAL MANAGER

ch-,u-izlknegkizca/kd

MotoRour Performance this yearYear 2014-15, witnessed that Motor Portfolio for the company continued to be a profitable segment maintaining the trend for last six years. Motor OD ratio of the Company is perhaps the lowest in the Industry with Net ICR of 50.29%. Even the TP Net ICR at 92.02% can be considered as quite low.

Contribution of Motor premium this year was Rs.2914.45 crores, out of which Motor OD premium contributed Rs. 1261.34 crores and Motor TP premium, Rs. 1653.11 crores. The share of Motor Business grew by 1.5% as compared to last year as Motor premium contributed 38.54% to the total premium of the company.

General Insurance particularly Motor Portfolio witnessed fierce competition during the year in review. Established as well as new players tried all tricks healthy and unhealthy to improve their market share. To keep pace with the dynamic market our rating pattern was put to stress. We followed a cautiously aggressive approach towards

eksVjbl o"kZ gekjk fu"iknuo"kZ 2014&15 bl ckr dk lk{kh jgk fd eksVj iksVZQksfy;ks fiNys Ng o"kZ dh izofRr dks cuk, j[krs gq, ykHkdkjh /kVd cuk jgkA deiuh dk eksVj vksMh vuqikr 50-29% dh fuoy vkbZlhvkj lfgr dnkfpr m|ksx esa U;wure jgkA ;gka rd fd 92-02% ij Vhih fuoy vkbZlhvkj dks Hkh dkQh de ekuk tk ldrk gSA

bl o"kZ eksVj izhfe;e dk ;ksxnku #- 2914-45 djksM+ Fkk] ftlesa ls eksVj vksMh izhfe;e dk ;ksxnku #-1261-34 djksM+ vkSj eksVj Vhih izhfe;e dk ;ksxnku #-1653-11 djksM+ FkkA eksVj dkjksckj dh fgLlsnkjh esa fiNys o"kZ dh rqyuk esa 1-5% of) gqbZ D;ksafd eksVj izhfe;e us dEiuh ds dqy izhfe;e esa 38-54% dk ;ksxnku fn;kA

lkekU; chek] fo'ks"kdj eksVj iksVZQksfy;ks esa leh{kk/khu o"kZ ds nkSjku Hkh"k.k izfrLi/kkZ ns[kus dks feyhA LFkkfir dEifu;ksa ds lkFk&lkFk u, f[kykfM+;ksa us viuh cktkj fgLlsnkjh esa lq/kkj djus ds fy, LoLFk vkSj #X.k lHkh ;qfDr;ka viukbZaA xfr'khy cktkj ds lkFk dne feykus ds fy, gekjh jsfVax i)fr ij ncko cukA geus izfrLi/kkZ ds izfr ltx :i ls


the competition. However, Private as well as public sector companies booked business at rates which cannot be termed as financially viable which we did not follow.

We achieved an accretion of Rs.226.34 Crores, with an overall growth rate of 8.42%. The growth rate in Motor OD in Indian operation was 4.80%. The Motor TP growth rate was 11.33%. Without losing focus on our strategy of profitability we were price competitive during the year. Our efforts in terms of loss control measures and prudent underwriting resulted in the net combined ratio for Motor OD at 91.08% and Motor TP at 124.39%. This clearly projects that we achieved our objective of reasonable growth and profitability in Motor Portfolio.

Our foreign operations this year has shown improved performance in Motor Portfolio with growth rate of 6.66% and premium increasing from Rs.49.48 Crores to Rs.52.75 Crores.

We continued our efforts to strengthen the motor tie-ups with manufacturers and financiers on all India level, as also our relationship with dealers and financiers at local level. 9 leading automobile manufacturers and 2 leading all India financiers are our partners in our Journey to develop Motor Portfolio. We made an addition to our motor tie-up portfolio with a Manufacturer level tie up with Escorts Tractors & Yamaha Motors Two wheelers in this financial year. 3198 motor dealers are now operating with us.

Customer BaseAn analysis shows that number of Motor Policy holders increased in 2014-15 by 213484 from 7906441 to 8120125. We increased our base of TP stand alone Policyholders by 6.23% while customer base of commercial vehicle segment declined by 19949 Policies.

tP ClaimsDuring the financial year two new TP Hubs were sanctioned at Tirunelveli and Tiruchirapalli taking the total number of TP Hubs to 40. TP Hubs handle 70359 TP claims out of the Company’s 145234 TP Claims i.e. 48% of the total TP claims.

vkØked #[k viuk;kA

rFkkfi] futh ds lkFk lkFk lkoZtfud {ks= dh dEifu;ksa us ,slh njksa ij djksckj cqd fd;k ftUgsa foRrh; nf"V ls O;ogk;Z ugha ekuk tk ldrk] vkSj ftudk vuqlj.k ge ugha djrsA

geus 8-42% dh lexz of) nj lfgr #- 226-34 djksM+ dh vfHkof) gkfly dhA Hkkjrh; izpkyu esa eksVj vksMh dh of) nj 4-80% FkhA eksVj Vhih dh of) nj 11-33% FkhA ykHkiznrk dh viuh j.kuhfr ij ls viuk /;ku gVk, fcuk ge o"kZ ds nkSjku ewY; dh nf"V ls izfrLi/khZ cus jgsA gkfu fu;a=.k vkSj foosdiw.kZ fuEukadu ds fygkt ls gekjs iz;klksa dk ifj.kke eksVj vksMh ds fy, 91-08% vkSj eksVj Vhih ds fy, 124-39% ds fuoy la;qDr vuqikr ds :i esa jgkA blls eksVj iksVZQksfy;ks esa U;k;ksfpr of) vkSj ykHkiznrk dk gekjk mn~ns'; Li"Vr;k ifjyf{kr gksrk gSA

bl o"kZ gekjs fons'kh izpkyuksa us eksVj iksVZQksfy;ks esa 6-66%

dh of) nj lfgr loaf/kZr fu"iknu n'kkZ;k vkSj izhfe;e #- 49-48 djksM+ ls c<+dj #- 52-75 djksM+ gks x;kA

geus vf[ky Hkkjrh; Lrj ij fofuekZrkvksa vkSj foRr laLFkkvksa ds lkFk eksVj lg;ksxksa ds lkFk lkFk LFkkuh; Lrj ij Mhyjksa vkSj foRr laLFkkvksa ds lkFk vius laca/kksa dks etcwr djus ds vius iz;kl tkjh j[ksA 9 vxz.kh vkWVkseksckby fuekZrk vkSj vf[ky Hkkjr esa 2 vxz.kh foRrh; laLFkk,a eksVj iksVZQksfy;ks dks fodflr djus esa gekjh ;k=k esa gekjs lk>hnkj jgs gSaA geus bl foRr o"kZ esa ,LdkWVZ VzsDVlZ ,oa ;kekgk eksVlZ ds lkFk fofuekZrk Lrj ds lg;ksx ls vius eksVj lg;ksx esa ,d btkQk fd;k gSA vc gekjs lkFk 3198 eksVj Mhyj izpkyu dj jgs gSaA

xzkgd vk/kkj

,d losZ{k.k n'kkZrk gS fd o"kZ 2014&15 esa eksVj ikWfylh/kkjdksa dh la[;k esa 213484 dh of) gksdj ;g 7906441 ls 8120125 gks xbZA geus Vhih LVSaM,yksu ikWfylh/kkjdksa ds vius vk/kkj esa 6-23% of) dh tcfd okf.kfT;d okgu lsxesaV ds xzkgd vk/kkj esa 19949 ikWfyfl;ksa dh fxjkoV vkbZA

Vhih nkos

foRr o"kZ ds nkSjku fr#.ksyosyh vkSj fr#fpjkiYyh esa nks u, Vhih gc laLohdr fd, x, ftlls Vhih gcksa dh dqy la[;k c<+dj 40 gks xbZA Vhih gc dEiuh ds dqy 145234 Vhih nkoksa esa ls 70359 Vhih nkoksa vFkkZr dqy Vhih nkoksa ds 48%



99

dh laHkykbZ djrs gSaA

foRr o"kZ 2014&15 esa] 70025 u, eksVj Vhih nkoksa dh lwpuk nh xbZA geus 81558 Vhih nkoksa dk lek/kku fd;k ftlls cdk;k nkoksa dh dqy la[;k 156767 ls ?kVdj 145234 jg xbZA Vhih nkoksa dk lek/kku vuqikr 36-19% gSA

dEiuh us ns'k Hkj esa vk;ksftr yksd vnkyrksa esa lfØ; Hkkxhnkjh dh ftuesa mPp U;k;ky;ksa vkSj loksZPp U;k;ky; dh yksd vnkyrsa Hkh 'kkfey gSaA 12308 ekeyksa esas U;k;ky; ls ckgj le>kSrk gqvk ftuesa ls 8646 ekeyksa dk lek/kku fnukad 6 fnlacj 2014 dks vk;ksftr jk"Vzh; eSxk yksd vnkyr esa ,d gh fnu fd;k x;kA

u, foi.ku ek/;eksa dk fodkl

eksVj ikWfyfl;ka gekjs osc iksVZy ds ek/;e ls csph xbZ dqy ikWfyfl;ksa esa fujarj lokZf/kd ;ksxnku nsrh jgh gSA

çkS|ksfxdh ds mi;ksx esa ,d dne vkxs

izkS|ksfxdh ds mi;ksx esa ,d dne vkxs dh vksj geus vius ,d fuekZrk Lrj ds lg;ksx dks osc ,dhdr ekWMy ij pkfyr fd;k gSA vU; lg;ksx O;oLFkk,a Hkh blh ekWMy vuqlj.k djus tk jgh gSa ftlls gekjs lsok Lrj] fo'ks"k rkSj ij Mhyjf'ki fcanq ij xzkgdksa dks ikWfylh dh fMyhojh rhoz gksuh vo'oaHkkoh gSA

xzkeh.k chek

xzkeh.k chek foHkkx ds ikl ls 40 vf/kd mRikn gSa tks yxHkx xjhc ds lkFk lkFk vlaxfBr {ks= ds xzkeh.kksa dh lHkh laHkkfor chek ;ksX; vko';drkvksa dh iwfrZ djrs gSaA pkyw foRr o"kZ 2014&2015 ds nkSjku geus vkj,lchokbZ izhfe;e lfgr #-168-97 djksM- dk izhfe;e vftZr fd;k gSA dEiuh ds xzkeh.k chek foHkkx ¼vkj,lchokbZ lfgr½ us #-30-02 djksM- dk ykHk n'kkZ;k gSA mifpr nkok vuqikr 63-25% gSA

vkj,lchokbZ ,d ljdkjh izk;ksftr LokLF; chek ;kstuk gS tks chih,y ifjokjksa ds vlaxfBr {ks=ksa ds dkexkjksa ds fy, vfHkizsr gSA ;g ,d udnh jfgr vLirky&nkf[kyk ikWfylh gS vkSj bl ;kstuk ds rgr 2 jkT;ksa ds 35 ftyksa esa thou ;kiu djus okys 15442444 chih,y O;fDr;ksa dks doj fd;k x;k gSA

In the FY 2014-15, 70025 new Motor TP claims were reported. We disposed 81558 TP claims thereby bringing down the total number of outstanding claims from 156767 to 145234. The TP Claims settlement ratio is 36.19%.

The Company actively participated in Lok Adalats held all over the country, including the Lok Adalats at the High Courts and the Supreme Court. 12308 cases were settled out of court with 8646 claims settled on a single day at the National Mega Lok Adalat on 6th December 2014.

developing new Marketing ChannelsMotor policies continue to contribute the maximum to total policies sold online through our web portal.

a step forward in use of technologyWe have moved one of our manufacturer level tie up to web integrated model. Other tie ups are also in the pipeline to follow this model which is bound to enhance our service levels particularly faster policy delivery to the customers at dealerships points.

RURal insURanCeRural insurance department has more than 40 products catering to almost all possible insurable needs of rural, poor as well as unorganized sector. During the current financial year 2014-2015 we have procured a premium of Rs 168.97 Crores including the RSBY premium. The Rural Insurance Department (excluding RSBY) of the company showed a profit of Rs 30.02 Crores .The incurred claim ratio is 63.25%.

RSBY is a Govt. sponsored health insurance scheme meant for unorganized sector workers belonging to BPL family. This is a cashless hospitalization policy and under this scheme 15442444 BPL lives through 35 districts of 2 states have been covered.


yksdfiz; xzkeh.k chek ;kstukvksa dk fu"iknuPerformance of Popular Rural insurance schemes

foRr o"kZ 2014-15Financial Year 2014-15

ikWfylh dk ukename of Policy

ikWfyfl;ksa dh la[;k

no. of Policies

doj dh xbZ la[;k

number Covered

izhfe;e ¼yk[k #i,

esa½Premium

(Rs. in lacs)

lwfpr nkoksa dh la[;k

no. of claims

reported

lek/kku fd, x, nkoksa dh la[;k

no. fo claims

settled

mixr nkos¼yk[k #i,

esa½

incurred claims

(Rs. in lacs)

nkok izfr'krClaims

Ratio %

turk O;fDrxr nq?kZVukJanta Personal Accident

75054 6851448 2091.00 2482 2711 1543.06 74.00

xzkeh.k O;fDrxr nq?kZVukGramin Personal Accident

10229 65763 2.70 10 12 (-1.46400) -54.00

jkt jkts'ojhRaj Rajeshwari

1496 3664 1.03 1 5 (-1.39600) -136.00

HkkX;JhBhagyashree

926 2069 0.31 0 0 0.00 0.00

i'kq/kuCattle

83978 280401 5252.41 15469 15071 3233.59 61.56

d`f"k iailsVAgri-Pumpset

4457 0 83.49 42 46 1.26 2.00

fdlku iSdst ikWfylhKisan Package Policy

108037 18498 2399.48 2127 2371 1560.18 65.00

;w,pvkbZ,lUHIS

46117 436025 529.28 9773 9753 716.16 135.00

vU; ¼xzkeh.k chek½OTHERS(Rural Insurance)

51532 2887988 1248.77 4171 4130 291.20 23.32

vkj,lchokbZ RSBY

35 15442444 5289.35 - - 22840.55 431.82

dqyTOTAL

381861 26192757 16897.82 34075 34099 30183.13 178.62



101


foRr o"kZ 2013&14Financial Year 2013-14



no. of Policies

doj dh xbZ la[;k

number Covered

izhfe;e ¼yk[k #i,

esa½Premium

(Rs. in lacs)


no. of claims

reported


no. fo claims

settled

mixr nkos¼yk[k #i,

esa½

incurred claims

(Rs. in lacs)

nkok izfr'krClaims

Ratio %


90387 6523191 2223.56 2888 2978 1913.70 86.06


10384 75022 3.14 8 8 1.03 32.74


303 2331 0.93 3 12 0.36 38.76

HkkX;JhBhagyashree

225 1061 0.16 2 3 0.08 48.92

i'kq/kuCattle

90756 271768 6153.52 15705 15180 3304.69 53.70


6245 0 110.77 56 61 1.16 1.04


136680 24368 2989.92 2570 2684 1808.44 60.48

;w,pvkbZ,lUHIS

54370 513833 741.51 11608 11705 760.43 102.55


35639 0 1072.71 5637 5869 358.95 33.46

vkj,lchokbZ RSBY

41 4862406 families

17036.88 - - 17907.28 105.11

dqyTOTAL

425030 7411574 30333.09 38477 38500 26056.10 85.90






no. of Policies

doj dh xbZ la[;k

number Covered

izhfe;e ¼yk[k #i,

esa½Premium

(Rs. in lacs)


no. of claims

reported


no. fo claims

settled

mixr nkos¼yk[k #i,

esa½

incurred claims

(Rs. in lacs)

nkok izfr'krClaims

Ratio %


109735 7897770 2682.09 3078 2982 2310.31 86.12


16616 69433 3.22 5 98 4.65 155.27


537 13563 3.43 20 14 3.58 110.19

HkkX;JhBhagyashree

401 1383 0.20 2 4 0.03 0.00

i'kq/kuCattle

75843 219755 4352.12 13244 14587 2844.74 65.37


6063 0 116.79 7 162 1.14 0.00


156661 0 3232.36 3682 3303 1932.42 59.77

;w,pvkbZ,lUHIS

61956 397428 591.96 9036 11432 703.82 118.92


37481 0 808.00 6599 5905 175.00 5.01

vkj,lchokbZ RSBY

44 4194240 13626.83 - - 11789.00 86.51

dqyTOTAL

465337 12793572 25417 35673 38487 19764.69 77.75



103





no. of Policies

doj dh xbZ la[;k

number Covered

izhfe;e ¼yk[k #i,

esa½Premium

(Rs. in lacs)


no. of claims

reported


no. fo claims

settled

mixr nkos¼yk[k #i,

esa½

incurred claims

(Rs. in lacs)

nkok izfr'krClaims

Ratio %


178712 29204813 4231.44 7454 9029 2451.17 57.93


8129 235 8.96 136 127 2.32 25.89


2711 3400 2.38 65 95 2.25 94.54

HkkX;JhBhagyashree

384 2336 2.32 8 14 0.00 0.00

i'kq/kuCattle

116293 645536 4335.80 30747 34583 2334.45 53.84


225 5991 129.61 178 50 10.71 8.27


3542 185598 3841.16 2786 2743 2091.94 54.46

;w,pvkbZ,lUHIS

64830 417159 1195.58 9430 8407 1430.05 119.61


- 48,92,492 Familes

17606.71 0 - 14845.29 84.32

vkj,lchokbZ RSBY

10379 714456 858.59 7787 8048 361.19 42.07

dqyTOTAL

385204 31179524 32212.55 58590 63096 23529.37 73.04






no. of Policies

doj dh xbZ la[;k

number Covered

izhfe;e ¼yk[k #i,

esa½Premium

(Rs. in lacs)


no. of claims

reported


no. fo claims

settled

mixr nkos¼yk[k #i,

esa½

incurred claims

(Rs. in lacs)

nkok izfr'krClaims

Ratio %


424743 28246628 4092.61 7209 6452 6852 167.43


13281 17220 657.58 249 188 515 78.35


6930 7642 5.35 146 124 25 459.44

HkkX;JhBhagyashree

2140 5035 5.00 18 12 1 29.50

i'kq/kuCattle

192459 634082 4258.87 30201 25577 3511 82.44


11722 5546 119.98 125 136 33 27.62


103984 185576 3840.70 2658 2050 2620 68.21

;w,pvkbZ,lUHIS

109979 558785 1601.48 10643 9358 1937 120.97


- 4829739 families)

16087.00 - - 8232 51.17

vkj,lchokbZ RSBY

22187 291618 262.74 2383 2241 38 14.48

dqyTOTAL

887425 29952132 30931.31 53632 46138 23764 76.83



105

a. K. Mittal GENERAL MANAGER

,-ds- feÙky egkizca/kd

investMent dePaRtMentThe Economic slowdown bottomed out last year. A spell of global financial turbulence caused capital outflows and pressure on the exchange rate, but strong policy measures stabilised the currency, improved forex reserves and narrowed down the Current Account Deficit (CAD). The growth of GDP is estimated at 8.1%-8.5% during 2015 and 2016 respectively according to advanced estimates released by Central Statistics Office (CSO). While Global environment remain challenging policy action in India would continue to drive the growth to new highs. The Global growth is pegged at 3.5% during 2015 and 3.8% during 2016.

Inflation decreased from 8.79% in April 2014 to 5.17% March in 2015. The main factors contributing to lower inflation were fall in the prices of Crude, commodities and food items.

RBI in its pursuit to control the inflationary pressure in the economy kept the repo rate at 8.00% till December 2014 and on inflation easing it reduced the repo rates in a phased manner to 7.50%.

fuos'k foHkkxvkfFkZd eanh dh otg ls xr o"kZ fuEure fcanq rd igqWap x;k FkkA oSf'od vkfFkZd vfLFkjrk ds nkSj ds ifj.kkeLo:i iwath dk cfgizZokg vkSj fofue; nj ij ncko mRiUu gqvk] fdarq etcwr uhfrxr mik;ksa ls eqnzk esa fLFkjrk vkbZ] fons'kh eqnzk vkjf{kfr;ksa esa lq/kkj gqvk vkSj pkyw [kkrk ?kkVk (CAD) de gqvkA dsanzh; lkaf[;dh dk;kZy; (CSO) }kjk tkjh vfxze vuqekuksa ds vuqlkj o"kZ 2015 vkSj 2016 ds nkSjku thMhih dh of) 8-1%&8-5% jgus dk vuqeku gSA tgka oSf'od okrkoj.k pqukSrhiw.kZ cuk gqvk gS ogha Hkkjr esa uhfrxr dkjZokbZ tkjh jgsxh tks fodkl dks ubZ mWapkbZ;ksa rd ys tk,xhA oSf'od of) nj o"kZ 2015 ds nkSjku 3-5% vkSj 2016 ds nkSjku 3-8% jgus dk vuqeku gSA

eqnzkLQhfr dh nj vizSy 2014 esa 8-79% ls ?kVdj ekpZ 2015 esa 5-17% gks xbZA eqnzkLQhfr de gksus esa eq[; ;ksxnku dPps rsy] oLrqvksa vkSj [kk| enksa dh dherksa esa vkbZ fxjkoV FkhA

Hkkjrh; fjtoZ cSad us vFkZO;oLFkk esa ncko dks fu;af=r djus ds iz;kl esa jsiks nj dks fnlacj 2014 rd 8-00% ij j[kk vkSj eqnzkLQhfr de gksus ij blus jsiks nj dks pj.kc) rjhds ls de djds 7-50% dj fn;kA


Keeping these facts in mind, despite unseasonal rains in the first quarter of the current financial year, the interest rate scenario is expected to be soft during the coming financial year 2015-16.

In 2014-15 Equity markets in India had a bull run with Sensex and Nifty giving 12 month return of 24.55 per cent and 26.33 per cent respectively. The Bull Run cycle is expected to continue for at least 3-5 years and the direction of the market is likely to be positive due to investor friendly measures being taken by the Central Government.

Taking advantage of the Equity market rally, your company was able to make a profit of Rs.923.21 crores from Sale of Investments (including income from redemption of Mutual Funds amounting to Rs 35.62cr ) during the year as against Rs.900.90 crores (including income from redemption of Mutual Funds amounting to Rs 27.45cr) in previous year. In order to ensure that the Book Value of the Equity Portfolio of the company is kept intact, your company did value buying of Rs.239.27 crores (previous year Rs.403.01 crores) of undervalued equity stocks. As a result, the Book Value of the Equity Portfolio went up to Rs.2189.60 Crores as on 31st March, 2015 from Rs.2178.47 crores as on 31st March, 2014.

Your Company has actively participated in the Government of India divestment programme in 2014-15 and expects to further participate in future, as well.

During the fiscal 2014-15, the Investment Department of your company achieved an Income from Interest & Dividend amounting to Rs.1094.57 crores as against Rs.986.24 crores in previous year.

Our investment philosophy for fixed income investments flows from the objective to deliver optimal risk-adjusted returns across our products.

However in view of rate cuts, easing inflation and liquidity conditions the Indian bond market saw a sharp easing of yields in H2 of FY 2014-15. The reasons contributing were sharp fall in crude oil prices which helped in reduction of Current Account Deficit (CAD), sharp moderation in Inflation (both WPI and CPI) and lower than market consensus and strong FII demand for Indian G-Sec and Corporate Bonds.

bu rF;ksa dks /;ku esa j[krs gq,] pkyw foRr o"kZ dh igyh frekgh esa csekSle cjlkr ds ckotwn] vkus okys foRr o"kZ 2015-16 ds nkSjku C;kt nj ifjn'; esa ujeh dk #[k vkus ds vklkj gSaA

o"kZ 2014&15 esa Hkkjr ds bfDoVh cktkjksa esa rsth jgh ftlesa lsalsDl vksj fuQ~Vh us 12 eghus esa Øe'k% 24-55 izfr'kr vkSj 26-33 izfr'kr dk fjVuZ fn;kA rsth dk ;g pØ de ls de 3&5 o"kZ rd tkjh jgus dh vk'kk gS vkSj dsanzh; ljdkj }kjk fd, tk jgs fuos'k&fgrS"kh mik;ksa dh otg ls cktkj dh fn'kk ldkjkRed jgus dh laHkkouk gSA

bfDoVh cktkj dh rsth dk ykHk mBkrs gq,] vkidh dEiuh fuos'kksa dh fcØh ls ¼ftlesa E;qpqvy QaMksa ds ekspu ls izkIr vk; 'kkfey gS tks #- 35-62 djksM+ curh gS½ #- 923-21 djksM+ dk ykHk vftZr djus esa lQy jgh] tks xr o"kZ #- 900-90 djksM+ ¼ftlesa E;qpqvy QaMksa ds ekspu ls izkIr vk; 'kkfey gS tks #- 27-45 djksM+ curh gS½ FkkA ;g lqfuf'pr djus ds fy,] fd dEiuh ds bfDoVh iksVZQksfy;ks dk cgh ewY; v{kq..k cuk jgs] vkidh dEiuh us vYiewY;kafdr bfDoVh LVkWdksa dh #- 239-27 djksM+ ¼xr o"kZ #- 403-01 djksM½ dh ewY; [kjhn dhA

ifj.kkeLo:i bfDoVh iksVZQksfy;ks dk cgh ewY; 31 ekpZ] 2014 dks #- 2178-47 djksM+ dh rqyuk esa c<+ dj 31 ekpZ] 2015 dks #- 2189-60 djksM+ gks x;kA

vkidh dEiuh us o"kZ 2014&15 esa Hkkjr ljdkj ds fofuos'k dk;ZØe esa lfØ; Hkkxhnkj dh gS vkSj Hkfo"; esa Hkh Hkkxhnkjh djus dh vk'kk gSA

foRr o"kZ 2014&15 ds nkSjku] vkidh dEiuh ds fuos'k foHkkx us C;kt vkSj ykHkka'k ls xr o"kZ ds #- 986-24 djksM+ dh rqyuk esa #- 1094-57 djksM+ dh vk; vftZr dhA

fu;r vk; fuos'kksa ds fy, gekjk fuos'k dk n'kZu gekjs leLr mRiknksa ij bZ"Vre tksf[ke7lek;ksftr vk; fMyhoj djs ds mn~ns'; ls lapkfyr gksrk gSA

cgjgky] njksa esa dVkSrh] eqnzkLQhfr esa deh vkSj udnh dh fLFkfr;ksa dks ns[krs gq,] Hkkjrh; ckaM cktkj esa foRr o"kZ 2014&15 dh nwljh Nekgh (H2) esa vtZu dh 'kkiZ bZftax ns[kh xbZA blds dkj.k jgs dPps rsy dh dherksa esa deh ftlls pkyw [kkrs dk ?kkVk (CAD) de djus esa lgk;rk feyh] eqnzk LQhfr ¼MCY;wihvkbZ vkSj lhihvkbZ nksuksa½ esa rst vk/kqfudhdj.k vkSj Hkkjrh; th lsD'ku rFkk fuxfer ckaMksa dh etcwr ,QvkbZvkbZ ekaxA



107

Indian Bond yields were very attractive compared to Global yields especially considering that the INR was one of the most stable currencies among emerging markets. This was due to improving current and fiscal deficit (boosted by sharp correction on crude oil prices).

The market conditions during the fiscal 2014-15 were tough on account of lower credit spreads; however your Company managed to maintain high credit quality portfolios across the board.

The average 10 year benchmark (G-Sec) yield for FY 2014-15 was 8.47% (annualised) and the yield on mean funds of your company was at 9.12% during the year against 8.92% in the previous year (without considering the profit/loss on Sale/redemption of investments).However, taking into account the profit/loss on Sale/redemption of investments, the overall yield was at 16.82 % during the current year as against 17.08% in the previous year.

The Market Value and Cost based Book Value of Investment Portfolio (including Term Loans) are given hereunder.

(Rs. In Crores)FY 2014-15 FY 2013-14

Market Value of Total Investments (including Term Loans)

22205.64 20087.32

Cost based Book Value of Total Investment Portfolio (including Term Loans).

12476.50 11517.21

Apart from this, during the year your company also restructured Term Loans/Debentures/Preference Capital of 6 companies under CDR/BIFR approved Schemes. Besides, One Time settlement (OTS) was done for 3 companies. During the year 2014-15, your company continued the exercise of pruning of Equity Portfolio with a view to rationalise its Portfolio. As a result of which, your company exited from 31 companies in the current Financial Year.

MaRine & aviationMarine & Aviation line of business is capital intensive in nature. During the year, the market continued

Hkkjrh; ckaM ls vtZu oSf'od vtZuksa dh rqyuk esa vR;ar vkd"kZd Fks [kkl rkSj ij ;g ns[krs gq, fd Hkkjrh; #i;k mHkjrs cktkjksa ds chp lokZf/kd fVdkm eqnzkvksa esa ls ,d FkkA ,slk lq/kjrs pkyw vkSj foRrh; ?kkVs dh otg ls gqvk ¼ftls dPps rsy dh dherksa esa rsth ls vkbZ deh dh otg ls izksRlkgu feyk½A

cktkj dh fLFkfr;ka foRr o"kZ ds nkSjku de ØsfMV QSyko dh otg ls dBksj jgha¼ cgjgky vkidh dEiuh vius lEiw.kZ dk;Z{ks= esa mPp dszfMV xq.koRrk okys iksVZQksfy;ks cuk, j[k ikbZA

foRr o"kZ 2014&15 ds fy, 10 o"kksZa dk vkSlr csapekØ ¼th&lsD'ku½ vtZu Fkk 8-47% ¼okf"kZd :i ls½ vkSj o"kZ ds nkSjku vkidh dEiuh dk vkSlr fuf/k;ksa ij vtZu] tks xr o"kZ 8-92% Fkk ¼fuos'kksa dh fcØh@ekspu ij ykHk@gkfu ij fopkj fd, fcuk½] o"kZ ds nkSjku 9-12% FkkA rFkkfi] fuos'kksa dh fcØh@ekspu ij ykHk@gkfu dks /;ku esa j[krs gq,] lexz vtZu xr o"kZ esa 17-08% dh rqyuk esa pkyw o"kZ ds 16-82% nkSjku jgkA

fuos'k iksVZQksfy;ks dk cktkj ewY; vkSj ykxr vk/kkfjr cgh ewY; ¼lkof/k _.kksa lfgr½ uhps fn;k x;k gSA

¼djksM+ #- esa½

foRr o"kZ 2014&15

foRr o"kZ 2013&14

dqy fuos'k dk cktkj ewY; ¼lkof/k _.kksa lfgr½

22205.64 20087.32

dqy fuos'k dk ykxr vk/kkfjr cgh ewY; ¼lkof/k _.kksa lfgr½

12476.50 11517.21

blds vfrfjDr] o"kZ ds nkSjku vkidh dEiuh us lhMhvkj@chvkbZ,Qvkj }kjk vuqeksfnr ;kstukvksa ds rgr 6 dEifu;ksa ds lkof/k _.kksa@fMcsapjksa@vf/kekU; iwath dh iqulZapjuk Hkh dhA blds vfrfjDr] 3 dEifu;ksa ds fy, ,d ckjxh le/kku (OTS) fd;k x;kA o"kZ 2014&15 ds nkSjku] vkidh dEiuh us vius iksVZQksfy;ks dk ;kSfDrdj.k djus ds mn~ns'; ls bfDovh iksVZQksfy;ks dh NWaVkbZ dh izfØ;k tkjh j[kh] ftlds ifj.kkeLo:i vkidh dEiuh pkyw foRr o"kZ ds nkSjku 31 dEifu;ksa ls ckgj fudy xbZA

ejhu vkSj foekuu

ejhu vkSj foekuu dkjksckj Ja[kyk izdfro'k iwath laosnh gksrh gSA o"kZ ds nkSjku] fuekZ.k {ks= esa fuos'k esa deh vkSj /kheh vkfFkZd


xfrfof/k;ksa dh otg ls cktkj esas eanh cuh jghA blds vfrfjDr] vfr&{kerk dh otg ls] izhfe;e njksa esa vkSj fxjkoV vkbZA bu fLFkfr;ksa esa] geus ejhu gy vkSj dkxksZ iksVZQksfy;ks esa rhljk LFkku cuk, j[kk vkSj foekuu iksVZQksfy;ks esa vkaf'kd rkSj ij f[kld dj nwljs LFkku ij vk x,A

lrØ fuEukadu ifjikfV;ksa vkSj viuk, x, mik;ksa vksj izHkkoh nkok izca/ku ls] ejhu dkxksZ] gy vkSj foekuu iksVZQksfy;ks ds ekeys esa fuoy vk/kkj ij mixr nkok vuqikrksa esa mYys[kuh; lq/kkj gkfly fd, x,A

o"kZ 2014&15 ds nkSjku] ejhu dkxksZ vkSj gy iksVZQksfy;ks us Øe'k% #- 95-27 djksM+ vkSj #- 21-84 djksM+ dk izHkko'kkyh fuoy izpkyfud ifj.kke ntZ fd;kA

foekuu iksVZQksfy;ks esa] (-) #- 21-58 djksM+ dk fuoy izpkyfud ifj.kke eq[;r% cgkyh {kerk esa fyf[kr ikWfyfl;ksa ds rgr vf/kd cM+s nkoksa ds mixr gksus dh otg ls gSA

lfoZl ofVZdy lsaVj

i;Zos{k.k izdks"B dh LFkkiuk nkoksa ds rRijrkiw.kZ] ekudhd`r vkSj >a>V&eqDr lek/kku ds fy, ns'k Hkj esa 25 lfoZl ofVZdy lsaVjksa (SVC) dh izHkkoiw.kZ rjhds ls fuxjkuh] ewY;kadu] ekxZn'kZu vkSj i;Zos{k.k djus ds mn~ns'; ls dh xbZ gSA bl foHkkx dk y{; ,d vR;ar izfrLi/khZ cktkj esa ,d izeq[k dEiuh ds :i esa izHkkowi.kZ nkok lek/kku iz.kkyh iz{ksfir djuk gSA foHkkx us vius vxzlfØ; mik;ksa ls lqfuf'pr fd;k gS fd eksVj vksMh nkoksa dh laHkykbZ djrs gq, Hkh ,lohlh esa nkok le/kku vuqikr 93% ls vf/kd gSA ,sls nkoksa dh lfoZflax ds fy, vkSlr fuiVku le; (TAT) esa o"kZ nj o"kZ lq/kkj gksrk tk jgk gSA foHkkx ns'k Hkj esa vkSj vf/kd la[;k esa ,lohlh vkjaHk djus vkSj ftu ,lohvks ds lexz iksVZQksfy;ks esa xSj&eksVj nkoksa dh lfoZflax vHkh rd vkjaHk ugha dh xbZ gS muesa Hkh bls vkjaHk djus dh ifjdYiuk dj jgk gSA

fons'kh izpkyu

gekjs fons'kh cktkj esa usiky] dqoSr vkSj nqcbZ esa dk;kZy; gSaA geus o"kZ 2013&14 esa #-154-68 djksM+ dh rqyuk esa 13-44% o`f) ntZ djrs gq, o"kZ 2014&15 esa #-175-48 djksM+ #i, dk ldy izhfe;e iwjk fd;k gSA

bl o"kZ nqcbZ vkSj usiky ds izpkyfud ifj.kke larks"ktud Fks tcfd dqoSr esa fiNys o"kZ ds lafpr ?kkVksa dh otg ls

to be depressed due to lack of investment & low economic activity in manufacturing sector. Moreover, due to over-capacity, the premium rates slide down further. Under these conditions, we continued to maintain the number three position in the market for Marine Hull and Cargo portfolios and marginally descended to number two position in case of Aviation portfolio.

With judicious underwriting practices & measures adopted and effective claims management, significant improvements were achieved in incurred claims ratios on net basis in case of Marine Cargo, Hull & Aviation portfolios.

During the year 2014-15, Marine Cargo & Hull portfolios posted an impressive Net Operating Result of Rs. 95.27 Cr and Rs. 21.84 Cr, respectively.

In Aviation portfolio, the Net Operating Result of (-) Rs. 21.58 Cr is mainly due to incurring of more large claims under policies written within the retention capacity.

seRviCe veRtiCal CentResSupervision Cell has been formed to effectively monitor, evaluate, guide and supervise 25 Service Vertical Centres (SVC) across the country for prompt, standardized and hassle-free servicing of claims. The aim of the department is to project effective claims servicing as a key differentiator in a highly competitive market. The department, through its proactive initiatives, has ensured that the SVCs have over 93% Claims Settlement Ratio while handling motor OD claims. The average turn-around-time (TAT) for servicing such claims has been improving year on year. The department envisions rolling out more SVCs across the country and also including servicing of non-motor claims in the overall portfolio of those SVCs where the same are yet to roll out.

FoReign oPeRations We have our offices in Nepal, Kuwait and Dubai in the foreign market. We have completed a gross premium of Rs 175.48 Crores in the year 2014-15 against Rs154.68 crores in the year 2013-14 registering a growth of 13.44%. This year operating results of Dubai and Nepal were satisfactory even as



109

Kuwait suffered some setback due to accumulated losses of previous years.

We revised the wages for the employees in Nepal in the current year and revision of their non-core benefits is under process. We have filed our application for setting up of a branch in Qatar with a local regulator and we hope to get the license soon. We participated in the formation of Nepal Reinsurance Company by subscribing to its share capital. The marketing resources in Dubai have been augmented and we hope to increase our premium substantially in the next financial year. The operations in Nepal will also receive a boost as a result of recruitment of a few marketing officers and upgrading of offices. We hope to turn around the position in Kuwait in next year and show much better results.

The detailed performance of our Foreign operations is as under:-

dqN vlQyrk,a jghaA

geus usiky esa vius deZpkfj;ksa ds fy, pkyw o"kZ esa ifjyfC/k;ksa dks la'kksf/kr fd;k gS vkSj muds xSj&dsanzh; ykHkksa dk la'kks/ku izfØ;k/khu gSA geus drj esa ,d LFkkuh; fofu;ked lfgr ,d 'kk[kk dh LFkkiuk dk vkosnu izLrqr fd;k gS vkSj gesa 'kh/kz gh ykblsal feyus dh vk'kk gSA geus usiky iquchZek dEiuh dh 'ks;j iwath esa vfHknku djds bldh LFkkiuk eas Hkkxhnkjh dSA nqcbZ esa foi.ku lalk/kuksa esa foLrkj fd;k x;k gS vkSj geas vxys foRr o"kZ esa vius izhfe;e esa mYys[kuh; o`f) gksus dh vk'kk gSA usiky esa dqN foi.ku vf/kdkfj;ksa dh HkrhZ vkSj dk;kZy;ksa ds LrjksUu;u ds ifj.kkeLo:i gesa izksRlkgu feysxkA gesa dqoSr esa vxys o"kZ esa fLFkfr esa cnyko vkus vkSj dkQh csgrj ifj.kke n'kkZus dh vk'kk gSA

gekjs fons'kh izpkyuksa dk foLrr fu"iknu fuEukuqlkj gS%&

account head

usikynepal

nqcbZdubai

dqoSrKuwait

total

jkf'kamt

% jkf'kamt

% jkf'kamt

% jkf'kamt

%

ldy izR;{k izhfe;e¼vkjvkbZ, lfgr½Gross Direct Premium (incl. RIA)

36.93 - 98.64 - 39.91 - 175.48 -

izhfe;e ¼fuoy½Premium (Net)

32.59 88.2% 89.27 90.5% 33.93 85.0% 155.79 88.8%

deh'ku ¼fuoy½Commission (Net)

1.16 3.6% 27.26 30.5% 10.16 29.9% 38.58 24.8%

mixe nkos ¼fuoy½ Incurred Claims (Net)

18.02 55.3% 35.28 39.5% 47.74 140.7% 101.04 64.9%

vkjf{kfr nckoReserve Strain

1.56 4.8% 7.21 8.1% -0.8 -2.4% 7.97 5.1%

,e-bZ-M.E.

6.85 21.0% 8.43 9.4% 2.41 7.1% 17.69 11.4%

fuEukafdr vf/k'ks"k@dehU/w Surplus/Deficit

5.0000 15.3% 11.0900 12.4% -25.58 -75.4% -9.49 -6.1%

C;kt vkSj vU; vk;Interest & Other Inc.

7.43 22.8% 4.99 5.6% -1.64 -4.8% 10.78 6.9%

fuoy vf/k'ks"k (+)/

Net Surplus(+)/Deficit(-)12.4300 38.1% 16.0800 18.0% -27.22 -80.2% 1.29 0.8%


inCoMe taX MatteRsThe income tax assessment until AY 2012-13 has been completed by the Department. During the year, your company has received a refund order amounting to Rs. 61.74 crores for AY 1978- 79. We have also received a favourable order against a penalty levied on us by the Department u/s Section 13(1) ( C ) of the interest tax for AY 1992-93 for Rs 44 lakhs.

vk;dj laca/kh ekeysfoHkkx }kjk foRr o"kZ 2012&13 rd dk vk;dj vkdyu iwjk fd;k tk pqdk gSA o"kZ ds nkSjku] vkidh dEiuh dks vkdyu o"kZ 1978- 79 ds fy, #- 61-74 djksM+ dk fjQaM vkns'k izkIr gqvkA gesa foHkkx }kjk vk; dj vf/kfu;e dh /kkjk 13(1) ( C ) ds v/khu foRr o"kZ 1992&93 ds fy, yxk, x, #- 44 yk[k ds tqekZus ds fo#) Hkh ,d vuqdwy vkns'k izkIr gqvk gSA



111

ds- jeknsoh@ K. RaMadevi lgk;d izca/kd] eq[; foRrh; vf/kdkjh vkSj foRrh; lykgdkj

GENERAL MANAGER, CHIEF FINANCIAL OFFICER & FINANCIAL ADVISOR

aCCoUntsFor the financial year 2014-15, a total premium of Rs. 7561.93 Crores (Rs.7282.53 Crores in the previous year) on Gross basis was procured, showing a growth of 3.84% with an accretion of Rs. 279.40 crores. The net retention was 82.19% during the year as against 82.48% in the year 2013-14, showing a decrease of 0.29%. The net ICR has reduced by 3.95% from 85.84% in the previous year to 81.89% in the current year.

Health, Motor OD/TP and Fire segment contributed 79.09% to the overall gross premium in the year, as against 77.26% in the previous year. The underwriting loss increased by Rs. 242.21 Crores from Rs. 1289.92 in 2013-14 to Rs. 1532.13 Crores in 2014-15.

The net commission ratio for the year 2014-15 stood at 5.37% of net premium, as against 5.60% in the previous year.

The management expenses have increased from Rs. 1775.43 Crores (24.38% of Direct Premium) to

ys[ksfoRr o"kZ 2014&15 ds fy,] #- 279-40 djksM+ dh vfHko`f) ds lkFk 3-84% o`f) nj n'kkZrs gq, ldy vk/kkj ij dqy #- 7561-93 djksM+ ¼xr o"kZ esa #- 7282-53 djksM+½ dk dqy izhfe;e vftZr fd;k x;kA fuoy izfr/kkj.k o"kZ 2013&14 esa 82-48% dh rqyuk esa 0-29% dh deh n'kkZrs gq, o"kZ ds nkSjku 82-19% FkkA fuoy vkbZlhvkj xr o"kZ esa 85-84% ls 3-95%?kVdj pkyw o"kZ esa 81-89% jg xbZ gSA

LokLF;] eksVj vksMh@Vhih vkSj vfXu lsxesaVksa dk lexz ldy izhfe;e esa ;ksxnku xr o"kZ esa 77-26% dh rqyuk esa pkyw o"kZ esa 79-09% jgkA tksf[ke vadu gkfu o"kZ 2013&14 esa #- 1289-92 djksM+ dh rqyuk esa #- 242-21 djksM+ o`f) gksdj o"kZ 2014&15 esa #- 1532-13 djksM+ gks xbZA

o"kZ 2014&15 ds fy, fuoy deh'ku vuqikr fuoy izhfe;e dk 5-37% jgk] tks xr o"kZ esa 5-60% FkkA

izLrkfor osru la'kks/ku ds dkj.k mPPrj izko/kku fd, tkus vkSj ,,l&15 dh ck/;rkvksa dh otg ls izca/ku O;; #- 1775-43 djksM+ ¼izR;{k izhfe;e dk 24-38%½ ls c<+dj #- 2347-98 djksM+ ¼izR;{k izhfe;e dk 31-05%½ gks pqdk gSA


Rs. 2347.98 Crores (31.05% of Direct Premium) due to higher provisioning towards proposed wage revision and AS-15 obligations.

The investment income for the current financial year increased by Rs.151.34Crores, as detailed below:

(Rs. in Crs)Particulars 2014-15 2013-14Interest, Dividend and Rent 1177.34 1048.31Profit on sale of investments 923.21 900.90Total 2100.55 1949.21

The operating profit was Rs. 91.83 Crores during the financial year as against Rs. 204.16 Crores in the year 2013-14. The operating results of the Company (as per IRDAI Regulations) under the Fire, Marine and Miscellaneous segments for the past five years are as detailed below:

(Rs. in Crs)Year Fire Marine Miscellaneous total2010-11 -21.58 -21.09 -199.51 -242.182011-12 -64.47 9.31 71.23 16.072012-13 114.35 35.35 254.71 404.412013-14 -20.85 69.05 155.96 204.162014-15 -24.82 117.12 -0.47 91.83

Overall, we have recorded a profit before tax of Rs. 617.34 Crores (previous year Rs. 660.73 Crores) and a profit after tax of Rs. 392.10 Crores (previous year Rs. 460.29 Crores). The combined ratio has increased from 121.66% in the FY 2013-14 to 123.84% in the current financial year mainly due to increase in provisions under AS-15 towards retirement benefits and proposed wage revision.

The fair value change account representing appreciation in the portfolio of actively traded equity shares and mutual funds stood at Rs. 9729.14 Crores as on 31.03.2015, as against Rs.8570.11 Crores as on 31.03.2014.

We are complying with the revised IRDAI regulations on Solvency Margin and it stands at 1.68 as on 31.03.2015, as against 1.64 as on 31.03.2014.

The General Reserves of the Company are Rs. 2981.83 Crores as on 31-03-2015 as against Rs. 2771.74 Crores as on 31.03.2014. The Company has

pkyw foRr o"kZ ds fuos'k vk; essa #- 151-34 djksM+ dh o`f) gqbZ gS] ftldk fooj.k fuEukuqlkj gS%

¼#- djksM+ esa½fooj.k 2014-15 2013-14C;kt] ykHkka'k vkSj fdjk;k 1177.34 1048.31fuos'kksa dh fcØh ij ykHj 923.21 900.90dqy 2100.55 1949.21

izpkyfud ykHk foRr o"kZ 2013&14 esa #- 204-16 djksM+ dh rqyuk esa pkyw foRr o"kZ esa #- 91-83 djksM+ FkkA fiNys ikap o"kksZa ds fy, vfXu] ejhu vkSj fofo/k lsxesaVksa ds v/khu dEiuh ds izpkyfud ifj.kke ¼vkbZvkjMh,vkbZ ds fofu;eksa ds vuqlkj½ uhps fn, x, C;kSjs ds vuqlkj gSa%

¼#- djksM+ esa½

o"kZ vfXu ejhu fofo/k dqy2010-11 -21.58 -21.09 -199.51 -242.182011-12 -64.47 9.31 71.23 16.072012-13 114.35 35.35 254.71 404.412013-14 -20.85 69.05 155.96 204.162014-15 -24.82 117.12 -0.47 91.83

dqy feykdj] geus #- 617-34 djksM+ ¼xr o"kZ #- 660-73 djksM+½ dk dj&iwoZ ykHk vkSj #- 392-10 djksM+ ¼xr o"kZ #- 460-29 djksM+½ dk dj&i'pkr ykHk ntZ fd;k gSA la;qDr vuqikr foRr o"kZ 2013&14 esa 121-66% dh rqyuk esa c<+dj pkyw o"kZ esa 123-84% gks pqdk gS ftldk izeq[k dkj.k ,,l& ds v/khu lsokfuo`fRr ykHkksa esa o`f) vkSj izLrkfor osru la'kks/ku gSA

lfØ; :i ls dkjksckj fd, x, bfDoVh 'ks;jksa vkSj E;wpqvy QaMksa ds iksVZQksfy;ks esa o`f) dks n'kkZus okyk mfpr ewY; ifjorZu ys[kk fnukad 31-03-2014 dks #- 8570-11 djksM+ dh rqyuk esa fnukad 31-03-2015 dks #- 9729-14 djksM+ ij FkkA

ge _.k 'kks/ku {kerk ekftZu ij vkbZvkjMh,vkbZ ds la'kksf/kr fofu;eksa dk vuqikyu dj jgs gsa vkSj ;g fnukad 31-03-2014 dks 1-64 dh rqyuk esa fnukad 31-03-2015 dks 1-68 FkkA

dEiuh dh lkekU; vkjf{kr fuf/k;ka fnukad 31-03-2014 dks #- 2771-74 djksM+ dh rqyuk esa fnukad 31-03-2015 dks 2981-83 djksM+ gSaA dEiuh us o"kZ ds nkSjku #- 50-00 djksM+ ds cksul 'ks;j tkjh fd, gSaA



113

issued bonus shares of Rs.50.00 Crores during the year.

The Board of Directors of the Company has proposed a dividend of Rs. 110.00 crores (55% on increased capital) for the Financial Year 2014-15 as against Rs. 108.00 crores (72%) for the Financial Year 2013-14.

inFoRMation teChnologYit infrastructure and securityOICL has traditionally been the market leader in IT implementation among the PSU Non-Life Insurance Companies. In order to further enhance and streamline the IT setup we have embarked upon a major upgrade of the existing IT infrastructure. The “Technology Refresh” has been undertaken to consolidate and refresh the existing infrastructure at Data Centre and Disaster Recovery sites with state of the art technology which includes Servers, Storage, Networking and security devices, Backup devices, EMS, Anti Virus , Active Directory, E-Mail, Asset Management, Helpdesk, etc. Further, Disaster Recovery facility is being created for our Investment Application and the Web Portal.

it applicationsOur core insurance application continues to be the flagship implementation and the same has recently been upgraded to Oracle 11g.Online access to the core application has been extended to 500+ Motor Dealers enabling online issuance of policies at the Dealer outlets. System level integration through web services has been implemented for a few major automobile manufacturers (OEMs) and selected Brokers. Similarly, online access has been extended to Third Party Administrators (TPAs) for upload of health related data .Online access has also been enabled for generation of Marine Certificates to selected customers. Further, the Core application has been integrated with the CSC Portal (Common Service Centre) for online issuance of policies even in the remote corners of the country. Bar code and QR codes have been implemented in the policy schedules generated from INLIAS.

The existing Web Portal which was launched in 2009 is shortly being replaced by a new Web Portal

dEiuh ds funs'kd eaMy us foRr o"kZ 2013&14 ds fy, #- 108-00 djksM+ ¼loaf/kZr iwath dk 72%½ dh rqyuk esa foRr o"kZ 2014&15 ds fy, #- 110-00 djksM ¼55%½ + ds ykHkka'k dk izLrko fd;k gSA

lwpuk izkS|ksfxdh

vkbZVh volajpuk vkSj lqj{kkvksvkbZlh,y ikjEifjd :i ls lkoZtfud {ks= dh xSj&thou chek dEifu;ksa esa vkbZVh dk;kZUo;u ds fygkt ls cktkj dk vxqvk jgk gSA vkbZVh <kaps esa vkSj o`f) djus vkSj bls lqpk: cukus ds mn~ns'; ls geus ekStwnk vkbZVh volajpuk esa cM+k LrjksUu;u vkjaHk fd;k gSA MsVk lsaVj vkSj fMtkLVj fjdojh lkbVksa ij ekStwnk volajpuk dks etcwr cukus vkSj bls u;k :i nsus ds fy, uoksUur izkS|ksfxdh lfgr VsDuksykWth fjQzS'k vkjaHk fd;k x;k gS ftlesa loZj] LVksjst] usVofØax vkSj flD;ksfjVh fMokbl] cSdvi fMokbl] bZ,e,l] ,aVh ok;jl] ,fDVo Mk;jsDVzh] bZ&esy] ifjlEifRr izca/ku] gsYiMsLd vkfn 'kkfey gSaA blds vfrfjDr] gekjs bUosLVesaV ,Iyhds'ku vkSj osc iksVZy ds fy, fMtkLVj fjdojh lqfo/kk Hkh l`ftr dh tk jgh gSA

vkbZVh ,Iyhdas'kugekjh dsznh; chek ,Iyhds'ku gekjk izeq[k dk;kZUo;u cuh gqbZ gS vkSj bls gky gh esa vksjsdy 11G ls vixzsM fd;k x;k gSA dksj ,Iyhds'ku esa vkWuykbu ,Dlsl dks 500+ eksVj Mhyjksa rd ,DlVsaM fd;k x;k gS ftlls Mhyj vkmVysVksa ij ikWfyl;ka vkWuykbu tkjh fd;k tkuk laHko gks ldk gSA dqN cM+s vkWVkseksckby fofuekZrkvksa (OEMs) vkSj pquhank czksdjksa ds fy, osc lsokvksa ds tfj, flLVe ysoy baVhxzs'ku dk dk;kZUo;u fd;k x;k gSA blh izdkj] LokLF; laca/kh MsVk viyksM djus ds fy, r`rh; i{k iz'kkldksa (TPAs) dks vkWuykbu ,Dlsl iznku dh xbZ gSA pqus gq, xzkgdksa ds fy, ejhu lfVZfQdsV tsujsV djus ds fy, Hkh vkWuykbu ,Dlsl pkyw dh xbZ gSA blds vfrfjDr] ns'k ds nwj njkt ds dksuksa rd Hkh ikWfyfl;ka vkWuykbu tkjh djus ds fy, dksj ,Iyhds'ku dks lh,llh iksVZy ¼dkWeu lfoZl lsaVj½ ds lkFk baVhxzsV fd;k x;k gSA vkbZ,u,yvkbZ,,l ls tsujsV fd, x, ikWfylh 'kSM~;wYl esa ckj dksM vkSj D;wvkj dksM dk dk;kZUo;u fd;k x;k gSA

ekStwnk osc iksVZy] ftls 2009 esa ykap fd;k x;k Fkk] dks 'kh/kz gh ,d u, osc iksVZy ls cnyk tk jgk gS ftlls u


dsoy vkWuykbu VzkatsD'kuksa dh c<+rh gqbZ ekax iwjh gksxh cfYd ;g fofHkUu LVsd/kkjdksa dks vkWuykbu lsok,a eqgS;k djkus ds fy, izeq[k pSuy gksxkA

gekjs ,pvkj izpkyuksa dks Hkh ,pvkj,e,l }kjk lsok iznku dh tk jgh gS] ftlus leLr laxBu esa vius ykbo vkWijs'ku vkjaHk dj fn, gSaA dqN cps gq, ekWM~;wYl dks Hkh tYn gh pkyw fd;k tk jgk gSA

ubZ igysanLrkostksa dks bysDVzkWfud :i esa iqjkys[kc) vkSj vuqjf{kr djus ds lkFk lkFk dkjksckjh izpkyuksa dks leFkZu iznku djus ds fy, budk vklkuh ls fjVzhoy djus ds fy, Hkh] ,d ubZ vkbZVh ifj;kstuk] ^,aVjizkbt dUVsaV eSusteSaV^ vkjaHk dh xbZ gSA ;s ,d ,aVjizkbt okbM fMIykW;esaV gksxh vkSj bls gekjs dksj ,Iyhds'ku vkSj osc iksVZy ds lkFk baVhxzsV fd;k tk,xkA blh fn'kk esa vkxs c<+rs gq, MsVk os;jgkmflax ds lkFk lkFk fctusl baVsyhtsal (DW/BI) vkSj xzkgd laca/k izca/ku (CRM) ifj;kstuk,a Hkh izLrkfor dh tk jgh gSa vkSj bUgsa 'kh/kzkfr'kh/kz fMIykW; dj fn;k tk,xkA

vkarfjd ys[kk ijh{kkeq[;ky; dk vkarfjd ys[kk ijh{kk ,oa fujh{k.k foHkkx (IAID) {ks=h; dsanzksa esa dke dj jgs vius 25 ys[kk ijh{kk izdks"Bksa }kjk miyC/k djk, x, QhMcSd dh lgk;rk ls izca/ku dks fofHkUu LFkkuksa ij fLFkr vius izpkyfud dk;kZy;ksa dh dk;Ziz.kkyh ij lqpuk eqgS;k djkus esa l{ke jgk gSA

o"kZ 2014&15 esa] vkbZ,Mh us 30 {ks=h; dk;kZy;ksa] 347 eaMy dk;kZy;ksa] 495 'kk[kk dk;kZy;ksa vkSj 392 O;kikfjd dsanzksa dh fu;fer ys[kk ijh{kk lapkfyr dhA blds vfrfjDr] blus lsok dsanzksa vkSj Vhih gcksa dh ys[kk ijh{kk dhA le>kSrk Kkiuk ds v/khu fd, x, volajpukRed Hkqxrkuksa & budh fLFkfr vkSj vuqikyu vkSj dEiuh ds vfrfFk x`gksa & vuqj{k.k] vkoaVu vkSj vfrfFk x`gksa esa Bgjus ds fy, dEiuh ds fu;eksa ds vuqikyu ij fo'ks"k ys[kk ijh{kk dhA blus lHkh lsokfuo`Rr@e`r deZpkfj;ksa ds fy, isa'ku@ikfjokfjd isa'ku ds Hkqxrkuksa dh laxkeh ys[kk ijh{kk Hkh dhA

o"kZ ds nkSjku] eq[;ky; ds dkfeZd] vks,lVhlh] lEink] LFkkiuk] vkjvkbZMh] ys[kk] fuos'k izpkyu] iquchZek laf/k vkSj LokLF; foHkkxksa dh ys[kk ijh{kk Hkh dh xbZA

foRr o"kZ 2014&15 ds nkSjku] yafcr ys[kk ijh{kk fcanqvksa

which will not only cater to the increased demand of online transactions but will be the primary channel for delivery of online services to various stakeholders.

Our HR operations are also being serviced by HRMS, which has started its live operations across the organization. Some of the remaining modules are also being rolled out very shortly.

neW initiativesA new IT Project, ‘Enterprise Content Management’ has been undertaken for archiving, and maintaining the documents in electronic form as also their easy retrieval for supporting the business operations. This will be an enterprise wide deployment and will be integrated with our core application and the Web Portal. Going ahead Data Warehousing coupled with Business Intelligence (DW/BI) and Customer Relationship Management (CRM) projects are also proposed and the same shall be deployed at the earliest.

inteRnal aUditThe Internal Audit & Inspection Department (IAID) at Head Office with the help of the feedback made available by its 25 Audit Cells functioning at Regional Centers has been able to provide information to the Management on the functioning of its operational offices situated at various places.

In the year 2014-15, IAD conducted Regular Audit of 30 Regional Offices, 347 Divisional Offices, 495 Branch Offices and 392 Business Centres. In addition, it carried out audit of Service Centers and TP Hubs. Special Audit was carried out on Infrastructure payments made under MOUs - their status and compliance and on Company owned Guest Houses - Critical analysis of Maintenance, allotment and adherence of company’s rules for stay in the Guest Houses. It has also conducted concurrent audit of Pension/family pension payments for all retiring/deceased employees.

During the year, audits of Personnel, OSTC, Estate, Establishment, RID, Accounts, Investment Operations, Reinsurance Treaty and Health departments of Head Office were also conducted.



115

dks fDy;j djus ds fy, fo'ks"k iz;kl fd, x,A fnukad 01-04-2014 dh fLFkfr ds vuqlkj 15995 fcanq yafcr Fks] o"kZ ds nkSjku 15229 fcanq tqM+ x,] ftuesa ls 15672 fcanqvksa dk lek/kku fd;k tk pqdk gSA

fnukad 01-04-2014 dh fLFkfr ds vuqlkj] 486 lh,th iSjk yafcr FksA o"kZ ds nkSjku 110 u, iSjk tqM+ x,A fnukad 31-03-2015 rd 434 iSjkvksa ds laca/k esa lh,th dks mRrj izLrqr fd, x, ftuesa ls 48 iSjk lh,th }kjk lekIr@lek'kksf/kr fd, tk pqds gSa vkSj 386 iSjk lh,th ds ikl muds vafre fu.kZ; ds fy, yafcr gSaA

Qkby ,aM ;wt ds laaca/k esa vkbZvkjMh,vkbZ ds fn'kkfunsZ'kksa ds vuqlkj] {ks=ksa dh Mh&VSfjQ tksf[ke vadu ys[kk ijh{kk frekgh vk/kkj ij dh xbZ gS vkSj blds fu"d"kZ cksMZ ds le{k izLrqr fd, tk pqds gSaA

During the Financial Year 2014-15, special efforts were made to clear the pending audit points. As on 01.04.2014 there were 15995 points pending and during the year 15229 were added, out of which 15672 points have been settled.

As on 01.04.2014, 486 CAG paras were pending. During the year 110 new paras were added. Replies in respect of 434 paras were submitted to CAG upto 31.03.2015 out of which 48 paras have been settled/dropped by CAG and 386 paras are pending with CAG for their final decision.

As per IRDAI guidelines on File and Use, de-tariff underwriting audit of the Regions has been conducted on quarterly basis and the findings were placed before the Board.


last Year we said “Vigilance is a very important function for any organization. It ensures good governance with a clear message to all concerned to maintain a culture of ethics and values”

We further consolidated vigilance process and streamlined many more grey areas. We are strictly following the rotation policy in vigilance department. 11 Vigilance Officers were rotated and new officers were posted and trained. This reflects positively in the performance.

tRaining The Department also spread the message of preventive vigilance through the visit of CVO to Regional Offices. This year we were able to draw our attention at Divisional Offices and Branches also. While visiting Regional Offices, also visited 18 Divisions and 7 Branches and emphasized that employees need to perform their duties in the most efficient, honest and transparent manner.

RaKesh KUMaR GENERAL MANAGER & CHIEF

VIGILANCE OFFICER

jkds'k dqekjegkizca/kd ,oa eq[; lrØrk vf/kdkjh

fiNys o"kZ geus dgk Fkk lrØrk fdlh Hkh laxBu dk vR;ar egRoiw.kZ dk;Zdyki gksrk gSA ;g lHkh lacaaf/kr yksxksa ds fy, uSfrdrk vkSj ewY;ksa dh laLd`fr vuqjf{kr j[kus ds Li"V lans'k ds lkFk lq'kklu lqfuf'pr djrk gSA

geus lrØrk izfØ;k dks vkSj etcwr djds cgqr ls vU; lansgkLin {ks=ksa dks lqpk: cuk;k gSA ge lrØrk foHkkx esa jksVs'ku uhfr dk dBksjrkiwoZd vuqlj.k dj jgs gSaA 11 lrØrk vf/kdkfj;ksa dks jksVsV djds u, vf/kdkfj;ksa dh fu;qfDr djds bUgsa izf'k{k.k iznku fd;k x;kA ;g fu"iknu esa ldkjkRedrk dks ifjyf{kr djrk gSA

izf'k{k.kfoHkkx us {ks=h; dk;kZy;ksa esa lhohvks ds nkSjs ds ek/;e ls fuokjd lrØrk dk lans'k Hkh izlkfjr fd;kA bl o"kZ ge viuk /;ku eaMy dk;kZy;ksa vkSj 'kk[kkvksa dh vksj Hkh vkdf"kZr djus esa lQy jgsA {ks=h; dk;kZy;ksa dk nkSjk djrs le;] 18 eaMyksa vkSj 7 'kk[kkvksa dk nkSjk Hkh fd;k x;k vkSj bl ckr ij tksj fn;k x;k fd deZpkfj;ksa dks vius drZO;ksa dk fuoZgu lokZf/kd dq'ky] bZekunkj vkSj ikjn'khZ rjhds ls djus dh vko';drk gSA



117

interaction with employees(i) Meeting at Oriental Staff Training College,

Faridabad:

Group addressed 7No. of Participants 174

(ii)

Meeting on Oriental day and Vigilance Week

2

No. of Persons addressed 430

(iii) Meeting at Regional Offices

Regional Offices covered 17Employees addressed 1450

To take this spirit down the line, Vigilance department conducted essay writing competition during the vigilance week in both Hindi and English

No. of Regional Office Participated 25No. of Participants 142No. of Prizes 30

The prize winning entries were published in house magazine.

Vigilance Department carries out surprise Inspection of Company Offices and in the process also educated the employees about common pitfalls like sharing of pass words and sensitizing them for better underwriting, preserving the direct business, financial prudence, to improve profitability and reducing liabilities.

The performance of Vigilance Department for the period 2014-15 is as under :

vigilance at a glance1 No. of cases as on 01.04.2014 552 Cases Registered during the

period 01.04.2014 to 31.03.201568

3 Cases disposed during the period 01.04.2014 to 31.03.2015 where RDA ( Both Major & Minor is recommended )

69

4 Closing Balance as on 31.03.2015 54

deZpkfj;ksa ds lkFk ckrphr(i) vksfj,.Vy LVkQ Vzsfuax dkWyst] Qjhnkckn esa cSBd%

lEcksf/kr lewg 7

Hkkxhnkjksa dh la[;k 174

(ii)

vksfj,.Vy fnol vkSj lrØrk lIrkg ij cSBd 2

lEcksf/kr O;fDr;ksa dh la[;k 430

(iii) {ks=h; dk;kZy;ksa esa cSBdsa

{ks=h; dk;kZy;ksa dh la[;k 17

lEcksf/kr deZpkfj;ksa dh la[;k 1450

bl Hkkouk dks uhps rd ys tkus ds fy,] lrØrk foHkkx us lrØrk lIrkg ds nkSjku fganh vkSj vaxzsth nksuksa Hkk"kkvksa esa fuca/k ys[ku izfr;ksfxrk vk;ksftr dhA

Hkkxhnkj {ks=h; dk;kZy;ksa dh la[;k 25

Hkkxhnkjksa dh la[;k 142

iqjLdkjksa dh la[;k 30

iqjLdkj fotsrk izfof"V;ksa dk izdk'ku foHkkxh if=dk esa fd;k x;kA

lrØrk foHkkx dEiuh ds dk;kZy;ksa dk vkSpd fujh{k.k djrk gS vkSj bl izfØ;k esa deZpkfj;ksa dks ikloMZ lk>k djus tSlh lkekU; pwdksa ds ckjs esa Hkh f'kf{kr fd;k x;k vkSj mUgsa csgrj tksf[ke vadu djus] izR;{k dkjksckj dks lajf{kr djus] foRrh; foosd dk mi;ksx djus] ykHkiznrk esa lq/kkj ykus vkSj nsunkfj;ksa dks de djus ds fy, laosnh cuk;k x;kA

foRr o"kZ 2014&15 ds fy, lrØrk foHkkx dk fu"iknu fuEukuqlkj gS%

lrØrk ,d utj esa1 01-04-2014 dks ekeyksa dh la[;k 552 01-04-2014 ls 31-03-2015 dh vof/k

ds nkSjku iathd`r ekeys

68

3 01-04-2014 ls 31-03-2015 2015 dh vof/k ds nkSjku fuiVk, x, ekeyksa dh la[;k ftuesa vkjMh, ¼cM+h vkSj NksVh nksuksa½ dh flQkfj'k dh xbZA

69

4 31-03-2015 dks vafre 'ks"k 54fofHkUu lzksrksa ls izkIr vkadM+ksa ;k f'kdk;rksa ds vk/kkj


Investigation based on our analysis of data or complaint received from different sources

Investigation conducted during 01.04.2014 to 31.03.2015

56

Accordingly RDA Major and minor were initiatedRDA MajorRDA Minor

2610

On the basis of Surprise Inspection as well as Investigations many preventive steps were taken.

2013-14 2014-15Surprise Inspection 179 296Cases Registered 3 6

The reports for all the surprise inspection were sent to concerned Regional Offices for compliance and administrative improvement.

liaison with outside agenciesMutual Exchange of knowledge, while CBI Official have trained OICL Vigilance Officers at Oriental Staff Training College, CVO and Chief Manager have imparted training at CBI Academy at regular interval. Similarly CVC resources have been used for improving the knowledge of Vigilance Officers.

To conclude, we propose speedy closure of vigilance cases in stipulated time line as proposed by CVC time to time.

ij dh xbZ tkap

01-04-2014 ls 31-03-2015 dh vof/k ds nkSjku tkap

56

rnuqlkj cM+h vkSj NksVh vkjMh, vkjaHk dh xbZvkjMh, cM+hvkjMh, NksVh

2610

vkSpd fujh{k.k ds lkFk lkFk tkapksa ds vk/kkj ij vusd fuokjd mik; fd, x,A

2013-14 2014-15vkSpd fujh{k.k 179 296

iathd`r ekeys 3 6

lHkh vkSpd fujh{k.kksa dh fjiksVZsa vuqikyu vkSj izpkyfud lq/kkj gsrq lacaf/kr {ks=h; dk;kZy;ksa dks Hksth xbZaA

ckgjh ,tsafl;ksa ds lkFk lEiØKku dk ikjLifjd fofue;] tgka lhchvkbZ ds vf/kdkfj;ksa us vksfj,.Vy LVkQ dkWyst esa vksvkbZlh,y ds lrØrk vf/kdkfj;ksa dks izf'kf{kr fd;k] ogha lhohvks vkSj eq[; izca/kd us lhchvkbZ vdkneh esa fu;fer varjky ij izf'k{k.k iznku fd;k gSA blh izdkj lhohlh ds lalk/kuksa dks Hkh lrØrk vf/kdkfj;ksa ds Kku esa lq/kkj gsrq mi;ksx fd;k x;k gSA

var esa] ge lrØrk ekeyksa dks rhozrkiwoZd fu/kkZfjr le; esa lekIr djus dk izLrko djrs gSa] tSlk fd lhohlh }kjk le; le; ij izLrkfor fd;k tk pqdk gSA



119

niKhil gUPta APPOINTED ACTUARY fu;qDr chekafdd

The role of Actuaries is to apply their skills totasks such as designing new insurance products, forecasting expected losses, setting premium rates, calculating the liabilities of an insurer to its policyholders, assessing the capital position of the company and ensuring policyholder protection.

Appointed Actuary’s role in General Insurance has increased significantly over the last few years globally. Following the opening up of Insurance sector in India, the Indian regulator, Insurance Regulatory and Development Authority of India (IRDAI) has also increased their requirements on disclosures and reporting to ensure the solvency of all general insurance companies.

Recent changes in regulations mandated all Insurance companies to have a full time appointed actuary pursuant to which I was appointed on August 1, 2014. Under the current structure, along with me, we have a senior consulting actuary and a strong skilled team of four actuarial students.

PRiCingOriental Insurance’s pricing approach to new

chekafddksa dh Hkwfedk vius dkS'ky dks u, chek mRikn rS;kj djus] laHkkfor gkfu;ksa dk iwokZuqeku yxkus] izhfe;e njsa r; djus] chekdrkZ dh vius ikWfylh/kkjdksa ds izfr nsunkjh dh x.kuk djus] dEiuh dh iwathxr fLFkfr dk vkdyu djus vksj ikWfylh/kkjdksa dk laj{k.k lqfuf'pr djus tSls dk;ksZa esa ykxw djus dh gksrh gSA

lkekU; chek esa fu;qDr chekafdd dh Hkwfedk fiNys dqN o"kksZa ds nkSjku oSf'od :i ls mYys[kuh; :i ls c<+kSrjh gqbZ gSA Hkkjr esa chek lsDVj ds [kqyus ds ckn] Hkkjrh; chek fofu;ked ,oa fodkl izkf/kdj.k (IRDAI) us Hkh lHkh lkekU; chek dEifu;ksa dh _.k'kks/ku {kerk lqfuf'pr djus ds mn~ns'; ls izdVhdj.kksa vkSj izfrosnu ij viuh vis{kkvksa esa of) dh gSA

fofu;eksa esa gky gh esa gq, ifjorZuksa dh otg ls lHkh chek dEifu;ksa ds fy, ,d iw.kZdkfyd chekafdd fu;qDr djuk vfuok;Z gks x;k gS ftlds vuqlj.k esa esjh fu;qfDr 1 vxLr] 2014 dks dh xbZA ekStwnk volajpuk ds v/khu] esjs lkFk lkFk] gekjs ikl ,d ofj"B ijke'kZnkrk chekafdd vkSj pkj chekafdd fo|kfFkZ;ksa dh etcwr vkSj dq'ky Vhe gSA

ewY; fu/kkZj.kvksfj,.Vy ba';ksjsal dk u, mRiknksa vkSj ekStwnk mRiknksa esa


products and revision in existing products is generally based on calculating the burning cost using historical claim frequencies and claim severities experience. These are then trended to incorporate the economic inflation and any changes in claim settlement patterns. Trended rates are then loaded for management expenses, profit loading and other fee payable to different parties to arrive at a market premium for our products.

However due to stiff market competition in Indian insurance business, some strategic management decisions have to be made to keep the product financially viable and marketable.

New health insurance guidelines were issued in February 2013 following which there has been a significant amount of work done in last one year on developing new health products and revising existing policies accordingly.

This year has been a marvelous year in terms of product approvals. After 7 years, Oriental Insurance has been able to get products approved from IRDAI. We filed 5 products in last 10 months and have been able to secure 4 approvals with results pending on one.

The products approved by IRDAI are as follows:

1. Individual Mediclaim Policy Revision in Pricing

2. Jewelers Block Policy Revision in Pricing

3. Hospital Cash Cover New Policy introduced

4. Medical Extension on WC policy New cover introduced

Result is pending for Happy Family Floater policy revision in pricing.

ReseRvingReserving risk is one of the biggest risk an insurance company faces more because of uncertainty both in terms of frequency and severity of claims. Appointed actuary needs to calculate an adequate provision for reserves which can be reviewed periodically and adjusted as per experience.

We decide on the level of reserves to be held

la'kks/ku ds izfr ewY; fu/kkZj.k laca/kh nf"Vdks.k lkekU;r;k izTtoyu ykxr vFkkZr cfuZax dkWLV dh x.kuk djus ij vk/kkfjr gksrk gS ftlesa foxr nkok vkofRR;ka vkSj nkoksa dh lfoZflax laca/kh vuqHko dk mi;ksx fd;k tkrk gSA blds ckn bldk #[k vkfFkZd eqnzkLQhfr vksj nkok lek/kku i)fr;ksa esa fdlh Hkh ifjorZu dks lekfgr djus dh vksj gksrk gSA fQj bl izdkj izkIr gqbZ njksa esa izca/ku O;;] ykHk Hkkj.k vkSj fofHkUu i{kdkjksa dks ns; dksbZ vU; 'kqYd tksM+s tkrs gSa rkfd gekjs mRiknksa ds fy, foi.ku izhfe;e dk fu"d"kZ fudkyk tk ldsA

cgjgky Hkkjrh; chek dkjksckj esa dM+h cktkj izfrLi/kkZ dh otg ls] mRikn dks foRrh; rkSj ij O;ogk;Z vkSj foi.ku ;ksX; cuk, j[kus ds fy, dqN j.kuhfrd izca/ku fu.kZ; fy, tkrs gSaA

Qjojh] 2013 esa u, LokLF; chek fn'kkfunsZ'k tkjh fd, x, ftlds ckn fiNys ,d o"kZ esa u, LokLF; mRiknksa dks fodflr djus vkSj rnuqlkj ekStwnk ikWfyfl;ksa dk la'kks/ku djus ij dkQh dke fd;k x;k gSA

;g o"kZ mRikn vuqeksnuksa dh nf"V ls 'kkunkj jgk gSA 7 o"kZ ckn] vksfj,.Vy ba';ksjsal vkbZvkjMh,vkbZ ls mRiknksa dks vuqeksfnr djk ldk gSA geus fiNys 10 eghuksa esa 5 mRikn Qkby fd, gSa vkSj 4 vuqeksnu gkfly djus esa lQy jgs gSa tcfd ,d ij ifj.kke yafcr gSaA

vkbZvkjMh,vkbZ }kjk vuqeksfnr mRiknksa dk C;kSjk fuEukuqlkj gS%

1- O;fDrxr esMhDyse ikWfylh ds ewY; fu/kkZj.k dk la'kks/ku2- T;wylZ CykWd ikWfylh ds ewY; fu/kkZj.k dk la'kks/ku3- gkWfLiVy dS'k doj ubZ ikWfylh vkjaHk dh xbZ4- MCY;wlh ikWfylh ds u, doj ij fpfdRlk foLrkj vkjaHk

fd;k x;k

gSIih QSfeyh Q~yksVj ikWfylh ds ewY; fu/kkZj.k ds la'kks/ku ij ifj.kke yafcr gSA

vkjf{kfr&fu/kkZj.k ¼fjtfoZax½fjtfoZax tksf[ke fdlh chek dEiuh ds le{k vkus okyk lcls cM+k tksf[ke gksrk gS D;ksafd blesa nkok vkofRR;ksa vkSj nkoksa dh dfBukbZ nksuksa esa vfuf'prrk jgrh gSA fu;qDr chekafdd dks vkjf{kfr;ksa ds fy, ,d i;kZIr izko/kku dh x.kuk djus dh vko';drk gksrh gS ftldh leh{kk vkof/kd :i ls dh tk, vkSj vuqHko ds eqrkfcd ftldk lek;kstu fd;k tk,A

ge izR;sd dkjksckj Ja[kyk ds fof'k"V igyqvksa dks /;ku esa j[krs



121

for each line of business separately taking into consideration the specific aspects of each line. Depending on the nature of risk, we estimate an ultimate loss cost for a particular line of business and deduct any payments and provisions made till date to arrive at reserves which should be sufficient in our opinion to pay any claims in respect of claims which have been incurred but not yet reported to the company.

We ensure the adequacy of reserves by use of actuarial models. We undertake a full review of our reserves at the end of every quarter and adjust for any shortfall/ release accordingly.

CaPital ModellingAs a first step towards Solvency Capital regime, IRDAI advised all the Insurers to work out Economic Capital, as prescribed in their guidelines.

Economic Capital can be defined as sufficient surplus to cover potential losses, at a given risk tolerance level, over a specified time horizon.

In compliance to this, Economic Capital assessment is done by us on yearly basis and submitted to IRDAI in the prescribed format. Our company’s position on this front is consistently comfortable and improving over time.

asset liaBilitY ManageMentInvestment department monitors the asset liability position to make investment decisions to match the returns from assets by amount and time in relation to liabilities. The company’s asset liability matching is quite robust and improving over time to meet its liabilities in future.

Asset liability Management is reviewed on quarterly basis and results are shared with management and sent to IRDAI in prescribed formats.

FinanCial Condition RePoRtThe objective of Financial Condition Report is to investigate the entire general insurance business carried on by the insurer as on the date of valuation and to report the strengths and weaknesses in terms of the risk the insurer carry with respect to meeting solvency requirements, profitability, morbidity,

gq, izR;sd Ja[kyk ds fy, j[kh xbZ vkjf{kfr;ksa dk Lrj r; djrs gSaA tksf[ke dh izdfr ds vk/kkj ij] ge fdlh dkjksckj Ja[kyk fo'ks"k ds fy, vafre gkfu ykxr dk vuqeku yxkrs gSa vkSj vkjf{kfr;ksa dh x.kuk djus ds fy, vkfnukad rd fd, x, fdlh Hkh Hkqxrku vkSj izko/kku dh dVkSrh djrs gSa] tks gekjs erkuqlkj ,sls fdlh Hkh nkoksa ds laca/k esa fd, x, fdlh Hkh nkos dk Hkqxkru djus ds fy, i;kZIr gks ftUgsa mixr rks fd;k tk pqdk gks fdarq vHkh rd dEiuh dks ftldh lwpuk u nh xbZ gksA

ge chekafdd ekWMyksa dk mi;ksx djds vkjf{kfr;ksa dh i;kZIrrk lqfuf'pr djrs gSaA ge izR;sd frekgh ds var esa viuh vkjf{kfr;ksa dh iw.kZ leh{kk djrs gSa vkSj rnuqlkj fdlh Hkh [email protected] ds fy, bls lek;ksftr djrs gSaA

iwath izfr:i.k_.k 'kks/ku iwath O;oLFkk dh fn'kk esa igys dne ds rkSj ij]vkbZvkjMh,vkbZ us lHkh chekdrkZvksa dks vius fn'kkfunsZ'kksa esa fu/kkZfjr fd, vuqlkj vkfFkZd iwath dh x.kuk djus dh lykg nhA

vkfFkZd iwath dks fdlh Hkh fn, x, tksf[ke lgu'khyrk Lrj ij] fdlh fof'k"V dky[kaM ds nkSjku] laHkkfor gkfu;ksa dks lajf{kr djus ds fy, i;kZIr vf/k'ks"k ds :i esa ifjHkkf"kr fd;k tkrk gSA

blds vuqikyu esa geus o"kZokj vk/kkj ij vkfFkZd iwath vkdyu fd;k gS vkSj vkbZvkjMh,vkbZ dks fu/kkZfjr izk:i esa izLrqr fd;k gSA bl ekeys esa gekjh dEiuh dh fLFkfr fujarj vk'Okkld cuh gqbZ gS vkSj le; ds lkFk&lkFk blesa lq/kkj gks jgk gSA

ifjlEifRr nsunkjh izca/kufuos'k foHkkx ifjlEifRr nsunkjh dh fLFkfr dh fuxjkuh djrk gS rkfd ifjlEifRr;ksa ls feyus okys izfrQy dk nsunkfj;ksa ds laca/k esa jkf'k vkSj le; }kjk esy djus ds fy, fuos'k laca/kh fu.kZ; fy, tk ldsaA dEiuh dk ifjlEifRr nsunkjh feyku dkQh Bksl gS vkSj Hkfo"; esa bldh nsunkfj;ks dks iwjk djus ds fy, blesa le; ds lkFk lkFk lq/kkj gks jgk gSA

ifjlEifRr nsunkjh izca/ku dh leh{kk frekgh vk/kkj ij dh tkrh gS vkSj ifj.kkeksa dks izca/ku ds lkFk lk>k djds vkbZvkjMh,vkbZ dks fu/kkZfjr izk:i esa Hkstk tkrk gSA

foRrh; fLFkfr izfrosnufoRrh; fLFkfr izfrosnu dk mn~ns'; ewY;kadu dh rkjh[k dh fLFkfr ds vuqlkj chekdrkZ }kjk pyk, tk jgs lEiw.kZ lkekU; chek dkjksckj dh tkap djuk vkSj _.k'kks/ku {kerk dh


liquidity, credit, expense, investment return, asset-liability management and other insurance business specific risks.

Financial condition report has increased substantially in its scope to give a true reflection of the company’s financial strength and also to assess the solvency of the company in all possible economic scenarios.

The executive report is presented to the board for review and submitted to IRDAI annually.

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foRrh; fLFkfr izfrosnu ds dk;Z{ks= esa mYys[kuh; of) dh xbZ gS rkfd blesa dEiuh dh foRrh; {kerk lgh ek;us esa ifjyf{kr gks lds vkSj lHkh laHkkfor vkfFkZd ifjn';ksa esa dEiuh _.k 'kks/ku {kerk dk vkdyu Hkh gks ldsA

dk;Zikyd izfrosnu cksMZ dks leh{kk gsrq izLrqr fd;k tkrk gS vkSj okf"kZd rkSj ij vkbZvkjMh,vkbZ dks izLrqr fd;k tkrk gSA



123

RashMi BaJPaiCOMPANY SECRETARYdEiuh lfpo

CoRPoRate goveRnanCe1. CoMPanY"s PhilosoPhY on Code oF goveRn-

anCeWe at 'Oriental' believe that good Corporate Governance practices are the best ingredients for all round development of the Company which would not only maximize the shareholders value but would also have sustained and long lasting development of the organization. The Board of Directors believes in ethical values and high moral standards in achieving the highest standards of Corporate Governance.

The Company has adopted Guidelines on Corporate Governance issued by IRDAI vide its circular ref: IRDAI/F&A/CIR/025/2009-10 dated 5th August, 2009 and amendment to the same vide Circular ref: IRDAI/F&I/CIR/F&A/014/01/2010 dated 29th January, 2010.

The Company not only complies with statutory requirements of Corporate Governance but shall also earnestly attempts to follow voluntarily the best practices of Corporate Governance in order to serve the interests of its stakeholders i.e. Shareholders, Customers, Government and Public at large, in best possible manner.

In view of the notification of Companies Act, 2013, the

fuxfer 'kklu1- 'kklu lafgrk ij dEiuh dk n'kZu^vksfj,.Vy* esa ge fo'okl j[krs gSa fd mRre fuxfer 'kklu ifjikfV;ka dEiuh ds pgqWaeq[kh fodkl ds fy, lokZsRre la?kVd gksrh gSa ftuls u dsoy 'ks;j/kkjdksa dk ewY; vf/kdre gksrk gS cfYd laxBu dk fVdkm vkSj nh?kZdkfyd fodkl Hkh gksrk gSA funs'kd eaMy fuxfer 'kklu ds mPpre ekunaM gkfly djus ds fy, uSfrd ewY;ksa vkSj mPp uSfrd ekinaMksa esa fo'okl j[krk gSA

dEiuh us vkbZvkjMh,vkbZ }kjk fnukad 5 vxLr] 2009 ds ifji= lanHkZ la[;k IRDAI/F&A/CIR/025/2009-10 vkSj fnukad 29 tuojh] 2010 ds ifji= lanHkZ la[;k IRDAI/ F&I/CIR/F&A/014/01/2010 }kjk blds la'kks/ku }kjk tkjh fuxfer 'kklu laca/kh fn'kkfunsZ'kksa dks vaxhd`r fd;k gSA

dEiuh u dsoy fuxfer 'kklu dh lkafof/kd vis{kkvksa dk vuqikyu djrh gS cfYd LoSfPNd :i ls fuxfer 'kklu dh loksZRre ifjikfV;ksa dk vkxzgiwoZd vuqlj.k djus dk iz;kl Hkh djrh gS rkfd blds LVsd/kkjdksa vFkkZr~ 'ks;j/kkjdksa] ljdkj vkSj lexz :i ls turk ds fgrksa dks loksZRre laHko rjhds ls iwjk fd;k tk ldsA


Company has prepared its compliance manual to ensure that all the applicable provisions are complied with. In accordance with section 203 of the Companies Act, 2013, the 1st Secretarial Audit of the Company was conducted by M/s. Jayant Gupta & Associates, Practicing Company Secretaries. Their report is annexed to the Board"s report.

2. BoaRd oF diReCtoRsThe 100% paid-up share capital of the Company is held by the Central Government and the Directors on the Board of the Company are appointed by the Central Government. Presently, the Board comprises of the Chairman-cum-Managing Director and seven Directors.

2.1 PaRtiCUlaRs oF diReCtoRsThe particulars of Directors are annexed:

3. BoaRd and CoMMittee MeetingsDuring the year under review, the Meetings of the Board of Directors / Committee of the Board were held as detailed below:

cksMZ dh cSBdsaBoaRd Meeting

ys[kk ijh{kk lfefraUdit CoMMittee

fuos'k lfefrinvestMent CoMMittee

lh,lvkj lfefrCsR CoMMittee

tksf[ke izca/ku lfefrRisK ManageMent CoMMittee

ikWfylh/kkjd laj{k.k lfefrPoliCYholdeR's PRoteCtion CoMMittee

lEifRr leh{kk lfefrPRoPeRtY RevieW CoMMittee

lwpuk izkS|ksfxdh lfefrit CoMMittee

NgSIX

pkjFOUR

ikapFIVE

ikapFIVE

pkjFOUR

pkjFOUR

pkjFOUR

nksTWO

24.04.2014 24.04.2014 01.05.201415.05.2014 15.05.2014 15.05.2014 27.06.2014 27.06.2014 27.06.2014 12.08.2014 12.08.2014 12.08.2014 12.08.2014 08.09.2014 08.09.2014 08.09.2014 23.09.2014 08.11.2014 08.11.2014 08.11.2014 08.11.2014 17.11.2014 17.11.2014 17.11.2014 28.01.2015 28.01.2015 28.01.2015 04.02.201506.02.2015 06.02.2015 06.02.2015 06.02.2015 19.03.2015 19.03.2015

dEiuh vf/kfu;e] 2013 dh vf/klwpuk ds n`f"Vxr] dEiuh us ;g lqfuf'pr djus ds fy,] fd lHkh iz;ksT; izko/kkuksa dks vuqikyu gks] viuk vuqikyu eSuqvy rS;kj fd;k gSA dEiuh vf/kfu;e] 2013 dh /kkjk 203 ds vuqlkj] dEiuh dh igyh lfpoky;h ys[kk ijh{kk eSllZ t;ar xqIrk ,aM ,lksf'k,V~l] O;kolkf;d dEiuh lfpoksa }kjk fd;k x;kA budk izfrosnu cksMZ ds ifrosnu ds lkFk layXu gSA

2- funs'kd eaMydEiuh dh 100% iznRr 'ks;j iwath dsanzh; ljdkj }kjk /kkfjr dh tkrh gS vkSj deiuh ds cksMZ esa funs'kdksa dh fu;qfDr dsanzh; ljdkj }kjk dh tkrh gSA orZeku esa] cksMZ esa v/;{k ,oa izca/ku funs'kd vkSj lkr funs'kd 'kkfey gSaA

2-1 funs'kdksa dk fooj.kfuns'kdksa ds fooj.k layXu gSaA

3- cksMZ vkSj lfefr;ksa dh cSBdsaleh{kk/khu o"kZ ds nkSjku] funs'kd eaMy@cksMZ dh lfefr;ksa dh cSBdsa fuEu fooj.kkuqlkj vk;ksftr dh xbZa%



125

4. CoMMittees oF diReCtoRs (FY 2014-15)4.1 audit Committee of the Board

The Audit Committee of the Board presently consists of the following Directors as Members:

1. Dr. N. Srinivasa Rao, Director (Insurance Division) Ministry of Finance,

2. Shri Vijay Garg, Part-time Non-Offficio Director,

3. Shri A. S. Bali, Part-time Non-Offficio Director, and

4. Shri Kuldip Singh, Whole Time Director & General Manager

The functions of Audit Committee includes review of quarterly, half yearly and annual financial statements, compliance of internal control systems, review of systems and procedures followed by the Company and such additional functions as may be assigned under the Company"s Act from time to time.

4.2 investment Committee of the Board The Investment Committee of the Board

presently consists of following as its Members:

1. Dr. A. K. Saxena, CMD,

2. Dr. N. Srinivasa Rao, Director (Insurance Division) Ministry of Finance

3. Mrs. Kaushalya Roy, Part-time Non-Officio Director,

4. Shri Vijay Garg, Part-time Non-Officio Director,

5. Shri A. S. Bali, Part-time Non-Officio Director,

6. Shri A. K. Mittal, General Manager, and

7. Mrs. K. Ramadevi, Chief Financial Officer & General Manager

8. Shri Nikhil Gupta, Appointed Actuary

The main functions of the Investment Committee are to implement the Investment Policy as approved by the Board and clear the

4- funs'kdksa dh lfefr ¼foRr o"kZ 2014&15½

4-1 cksMZ dh ys[kk ijh{kk lfefr cksMZ dh ys[kk ijh{kk lfefr esa lnL;ksa ds :i esa bl

le; fuEufyf[kr funs'kd 'kkfey gSa%

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4- Jh dqynhi flag] iw.kZdkfyd funs'kd ,oa egkizca/kd

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1- MkW- ,-ds- lDlsuk] v/;{k ,oa izcaaaaaaaaaaaaaaaaaaaa/k funs'kd]

2- MkW- ,u- Jhfuokl jko] funs'kd ¼chek fMohtu½] foRr ea=ky;,

3- Jherh dkS'kY;k jk;] va'kdkfyd insu funs'kd]

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5- Jh ,-,l- ckyh] va'kdkfyd insu funs'kd]

6- Jh ,-ds- feRry] egkizca/kd] vkSj

7- Jherh ds- jeknsoh] eq[; foRr vf/kdkjh vkSj egkizca/kd

8- Jh fuf[ky xqIrk] fu;qDr chekafdd

fuos'k lfefr ds izeq[k dk;Z cksMZ }kjk ;Fkk vuqeksfnr fuos'k uhfr dk dk;kZUo;u djuk vkSj le; le; ij fuos'k ds izLrkoksa dks vukifRr nsuk gSA


Investment proposal from time to time.

4.3 appeal and Memorial Committee of the BoardThe constitution of Sub-Committee was suspended consequent to retirement of Shri S. L. Bansal, Chairman & Managing Director of The Oriental Bank of Commerce after attaining the age of superannuation, from the Board of the Company, till the time fresh appointment of Bank Nominee Director was notified by the Ministry of Finance.

The sub-committee of the Board has been prescribed as the Appellate Authority and the Authority for Memorial for certain categories of employees / cases. The Sub-committee was constituted consequent upon the amendment of General Insurance (Conduct, Discipline & Appeal) Rules, 1975 which was duly approved in the 351st Board Meeting held on 23.12.2004.The General Insurance (Conduct, Discipline & Appeal) Rules, 1975 is now replaced with The Oriental Insurance Company (Conduct, Discipline & Appeal) Rules, 2014 duly approved in the 419th Board Meeting held on 24/04/2014.

4.4 Remuneration Committee of the BoardThe Remuneration Committee of the Board presently consists of the following Directors as Members:



3. Shri Vijay Garg, Part-time Non-Officio Director, and

4. Shri A. S. Bali, Part-time Non-Officio Director

The Remuneration Committee was constituted to evaluate performance of the Chairman-cum-Managing Director, for payment of Performance Linked Incentive (PLI) as directed by The Department of Financial Services, Ministry of Finance, vide letter Ref. No. F.No.S-11012/01/2007-Ins.III dated 20th July, 2007.

4-3 cksMZ dh vihy ,oa Lekjd lfefr vksfj,.Vy cSad vkWQ dkWelZ ds v/;{k ,oa izca/k funs'kd

Jh ,l-,y- caly dh vf/kokf"kZrk ds ifj.kkeLo:i mudh cksMZ ls lsokfuo`fRr mi&lfefr dh xBu izfØ;k foRr ea=ky; }kjk vf/klwfpr cSad ds ukfer funs'kd dh fu;qfDr rd fuyafcr j[kh xbZA

dfri; Jsf.k;ksa ds deZpkfj;ksa@ekeyksa ds fy, vihyh; izkf/kdj.k vkSj Lekjd ds fy, izkf/kdj.k ds rkSj ij cksMZ dh mi&lfefr fofgr dh xbZ gSA mi&lfefr dk xBu lkekU; chek ¼vkpj.k] vuq'kklu ,oa vihy½ fu;ekoyh] 1975 ds la'kks/ku ds ifj.kkeLo:i fd;k x;k Fkk ftls fnukad 23-12-2004 dks vk;ksftr cksMZ dh 351oha cSBd esa fof/kor vuqeksfnr fd;k x;k FkkA vc lkekU; chek ¼vkpj.k] vuq'kklu ,oa vihy½ fu;ekoyh] 1975 dk LFkku vksfj,.Vy chek dEiuh ¼vkpj.k] vuq'kklu ,oa vihy½ fu;ekoyh] 2014 us ys fy;k gS ftls fnukad 24-04-2014 dks vk;ksftr cksMZ dh 419oha cSBd esa fof/kor vuqeksfnr fd;k x;k FkkA

4-4 cksMZ dh ikfjJfed lfefr cksMZ dh ikfjJfed lfefr esa lnL;ksa ds :i esa bl




3- Jh fot; xxZ] va'kdkfyd insu funs'kd] vkSj

4- Jh ,-,l- ckyh] va'kdkfyd insu funs'kd

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4-5 cksMZ dh tksf[ke izca/ku lfefr cksMZ dh tksf[ke izca/ku lfefr esa lnL;ksa ds :i esa bl





127

4.5 Risk Management Committee of the BoardThe Risk Management Committee of the Board presently consists of the following Directors as Members:

1. Dr. A. K. Saxena, CMD,,


3. Mrs. Kaushalya Roy, Part-time Non-Officio Director, and


The Risk Management Committee was constituted in accordance with the guidelines on Corporate Governance issued by IRDAI vide its circular ref: IRDAI/F&A/CIR/025/2009-10 dated 5th August, 2009.

4.6 Policyholder"s Protection Committee of the BoardThe Policyholder"s Protection Committee of the Board presently consists of the following Directors as Members:

1. Dr. A. K. Saxena, CMD,,




The Policyholder"s Protection Committee was constituted in accordance with the guidelines on Corporate Governance issued by IRDAI vide its circular ref: IRDAI/F&A/CIR/025/2009-10 dated 5th August, 2009.

4.7 ethics Committee of the BoardThe Ethics Committee of the Board presently consists of the following Directors as Members:


2. Dr. N. Srinivasa Rao, Director (Insurance


3- Jherh dkS'kY;k jk;] va'kdkfyd insu funs'kd] vkSj


tksf[ke izca/ku lfefr dk xBu vkbZvkjMh,vkbZ }kjk fnukad 5 vxLr] 2009 ds ifji= lanHkZ la[;k IRDAI/F&A/CIR/025/2009-10 }kjk tkjh fuxfer 'kklu laca/kh fn'kkfunsZ'kksa ds vuqlkj fd;k x;k FkkA

4-6 cksMZ dh ikWfylh/kkjd laj{k.k lfefr

cksMZ dh ikWfylh/kkjd laj{k.k lfefr esa lnL;ksa ds :i esa bl le; fuEufyf[kr funs'kd 'kkfey gSa%





ikWfylh/kkjd laj{k.k lfefr dk xBu vkbZvkjMh,vkbZ }kjk fnukad 5 vxLr] 2009 ds ifji= lanHkZ la[;k IRDAI/F&A/CIR/025/2009-10 }kjk tkjh fuxfer 'kklu laca/kh fn'kkfunsZ'kksa ds vuqlkj fd;k x;k FkkA

4-7 cksMZ dh uSfrd lfefr

cksMZ dh uSfrd lfefr esa lnL;ksa ds :i esa bl le; fuEufyf[kr funs'kd 'kkfey gSa%


2- MkW- ,u- Jhfuokl jko] funs'kd ¼chek fMohtu½] foRr ea=ky;,


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5- Jh ,-,l- ckyh] va'kdkfyd insu funs'kd

uSfrd lfefr dk xBu vkbZvkjMh,vkbZ }kjk fnukad 5


vxLr] 2009 ds ifji= lanHkZ la[;k /F&A/CIR/025/2009-

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4-8 cksMZ dh lwpuk izkS|ksfxdh lfefr cksMZ dh lwpuk izkS|ksfxdh lfefr esa lnL;ksa ds :i esa

bl le; fuEufyf[kr funs'kd 'kkfey gSa%



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4- Jh ds- jeknsoh] egkizca/kd

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ls izkIr funs'kksa ds vuqlkj fd;k x;k Fkk vkSj bl le; fuEufyf[kr funs'kd lnL;ksa ds :i esa 'kkfey gS%





cksMZ dh lEifRr leh{kk lfefr dk xBu dEiuh }kjk /kkfjr lEifRr;ksa ds ekeyksa vkSj vU; lEink laca/kh ekeyksa dh leh{kk ds fy, fd;k x;k FkkA

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Division) Ministry of Finance


4. Shri Vijay Garg, Part-time Non-Officio Director, and

5. Shri A. S. Bali, Part-time Non-Officio Director

The Ethics Committee was constituted in accordance with the guidelines on Corporate Governance issued by IRDAI vide its circular ref: IRDAI/F&A/CIR/025/2009-10 dated 5th August, 2009.

4.8 it Committee of the BoardThe IT Committee of the Board presently consists of the following Directors as Members:



3. Shri Kuldip Singh, Whole Time Director & General Manager,

4. Mrs. K. Ramadevi, General Manager, and

The Committee was constituted to lend more focus to the IT initiatives of the Company and also to ensure that the IT initiatives are in tune with the business objectives.

4.9 Property Review Committee of the BoardThe Property Review Committee of the Board was constituted in terms of the directives received from Ministry of Finance and presently consists of the following Directors as Members:



3. Mrs. Kaushalya Roy, Part-time Non-Officio Director, and


The Committee was constituted to review the



129

matters of properties held by the Company and other Estate related Matters

4.10 Corporate social Responsibility CommitteeThe Corporate Social Responsibility Committee of the Board was constituted in terms of the Section 135 of Companies Act 2013 notified vide Gazette notification no. G. S. R. 129 (E) dated 27th February, 2014 issued by Ministry of Corporate Affairs:


2. Shri A. S. Bali, Part-time Non-Officio Director, and

3. Shri Kuldip Singh, Whole-time Director & General Manager

The Committee was constituted to approve the CSR Policy of the Company and ensure its implementation.

5. Remuneration of directorsThe Chairman & Managing Director is paid salary / remuneration as fixed by the Government of India and the Executive Directors are paid salary / remuneration as per their scale of pay. The Part-time Non-Officio directors were paid sitting fee in accordance with guidelines issued by ministry of finance for the Meetings attended by them. No sitting fees is payable to CMD, Whole-time Directors, Bank Director and nominees representing Government of India.

6. Key Managerial PersonnelPursuant to Section 203(1) of the Companies Act 2013 read with Rule 8 of the Companies (Appointment and Remuneration of Managerial personnel) Rule 2014, following were appointed as Key Managerial Personnel in the Board meeting held on 12th August, 2014

1. A. K. Saxena, CMD,

2. Mrs. Rashmi Bajpai, Company Secretary and

3. Mrs. K. Ramadevi, Chief Financial Officer & General Manager

th-,l-vkj- 129 (E) }kjk vf/klwfpr dEiuh vf/kfu;e 2013 dh /kkjk 135 ds vuqlkj fd;k x;k Fkk%


2- Jh ,-,l- ckyh] va'kdkfyd insu funs'kd] and


lfefr dk xBu dEiuh dh lh,lvkj uhfr vuqeksfnr djus vkSj bldk dk;kZUo;u lqfuf'pr djus ds fy, fd;k x;k FkkA

5- funs'kdksa dk ikfjJfed v/;{k ,oa izca/k funs'kd dks Hkkjr ljdkj }kjk ;Fkk

fu/kkZfjr osru@ikfjJfed dk Hkqxrku fd;k tkrk gS vkSj dk;Zdkjh funs'kdksa dks muds osrueku ds vuqlkj osru@ikfjJfed dk Hkqxrku fd;k tkrk gSA va'kdkfyd insu funs'kdksa dks muds }kjk cSBdksa esa mifLFkfr ds fy, foRr ea=ky; }kjk tkjh fn'kkfuns'kksZa ds vuqlkj cSBd 'kqYd dk Hkqxrku fd;k tkrk gSA v/;{k ,oa izca/ku funs'kd] iw.kZdkfyd funs'kdksa] cSad funs'kd vkSj Hkkjr ljdkj dk izfrfuf/kRo djus okys ukfer lnL;ksa dks dksbZ cSBd 'kqYd ns; ugha gSA

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7. Whistle Blower PolicyThe Whistle Blower Policy of the Company was drafted in accordance with the guidelines on Corporate Governance issued by IRDAI vide its circular ref: IRDAI/F&A/CIR/025/2009-10 dated 5th August, 2009 and got approved by the Board in its 386th Meeting held on 9th February, 2010.

The periodic review of Whistle Blower Policy was approved by the Board in its Meeting held on 12th August, 2014.

8. general Body MeetingThe last three Annual General Body Meetings of the Company were held at the Registered Office of the Company, at A-25/27, Asaf Ali Road, New Delhi on the following dates:

8th September, 201425th June, 201321st September, 2012

'CeRtiFiCation FoR CoMPlianCe oF the CoRPoRate goveRnanCe gUidelines' I, RASHMI BAJPAI hereby certify that up to the extent of my knowledge and information, the Company has complied with the corporate governance guidelines for Insurance Companies as amended from time to time and nothing has been concealed or suppressed.

Sd/-

RASHMI BAJPAI COMPANY SECRETARY

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dEiuh ds iathd`r dk;kZy; A-25/27, vklQ vyh jksM+] ubZ fnYyh esa fuEufyf[kr rkjh[kksa dks vk;ksftr dh xbZa%

8 flracj] 2014

25 twu] 2013

21 flracj] 2012

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g-&jf'e cktis;hdEiuh lfpo



131

funs'kdksa dk fooj.k ¼vkfnukad rd½PaRtiCUlaRs oF diReCtoRs (as on date)

Ø- l-s. no.

funs'kd dk ukename of the director

;ksX;rkQualification

funs'kd dh Js.khCategory of directorship

vksvkbZlh,y esa lfefr;ksa dh lnL;rkMembership of Committees in oiCl

funs'kdrkdirectorship

1 MkW- ,-ds- lDlsukDr. A. K. Saxena

,e-oh- ,llh] ,y,ych] AIIIM. V. Sc., L.L.B, AIII

Chairman cum Managing Director

01- fuos'k lfefr01- Investment Committee02- uSfrdrk lfefr02- Ethics Committee03- tksf[ke izca/ku lfefr03- Risk Management

Committee04- ikWfylh/kkjd laj{k.k lfefr04- Policyholder’s Protection

Committee05- lEifRr leh{kk lfefr05- Property Review

Committee06- lwpuk izkS|ksfxdh lfefr06- IT Committee

bafM;k baVjus'kuy ba';ksjasl ihVhbZ fyfeVsMflaxkiqj & v/;{kthvkbZlh gkmflax Qk;usal dEiuh fyfeVsMgSYFk ba';ksjsal Vhih, vkWQ bafM;k'kklh eaMy lnL;jk"Vzh; chek vdkneh] iq.ks

India International Insurance Pte Ltd., Singapore - ChairmanGIC Housing Finance Company LimitedHealth Insurance TPA of India Ltd.governing Board MemberNational Insurance Academy, Pune

2 Jh tfranchj flag] vkbZ,,lShri Jatinderbir Singh, IAS

,e, ¼vaxzsth½],ech, MA (English), MBA

v/;{k ,oa izca/k funs'kd] iatkc ,aM fla/k cSadChairman cum Managing Director, Punjab & Sind Bank

01- fuos'k lfefr01- Investment Committee02- ys[kk ijh{kk lfefr02- Audit Committee03- vihy ,oa Lekjd lfefr03- Appeal & Memorial

Committee04- ikfjJfed lfefr04- Remuneration Committee05- uSfrdrk lfefr05- Ethics Committee06- lh,lvkj lfefr06- CSR Committee

iatkc ,aM fla/k cSadPunjab & Sind Bank


Ø- l-s. no.






3 MkW- ,u Jhfuokl jkoDr. N. Srinivasa Rao

ch-dkWe,,e, ¼vFkZ'kkL=½]ih,pMhB.Com, MA (Eco.), Ph.D

ljdkjh ukfer funs'kdGovernment Nominee Director

01- fuos'k lfefr01- Investment Committee02- ys[kk ijh{kk lfefr02- Audit Committee02- tksf[ke izca/ku lfefr03- Risk Management

Committee03- ikWfylh/kkjd laj{k.k lfefr04- Polcyholder’s Protection


Committee05- lwpuk izkS|ksfxdh lfefr06- IT Committee06- ikfjJfed lfefr07- Remuneration Committee07- uSfrdrk lfefr08- Ethics Committee

bafM;u cSadIndian Bank

4 Jherh dkS'kY;k jk;Mrs. Kaushalya Roy

ch,BA

va'kdkfyd insu funs'kd ¼Lora= funs'kd½Part Time Non Officio Director(Independent Director)

01- fuos'k lfefr01- Investment Committee02- tksf[ke izca/ku lfefr02- Risk Management

Committee03- ikWfylh/kkjd laj{k.k lfefr03- Polcyholder’s Protection


Committee05- ikfjJfed lfefr05- Remuneration Committee06- Ethics Committee06- uSfrdrk lfefr07- CSR Committee

ch;wvkjlh,p dalYVsalh izk-fy-BURCH Consultancy Pvt. Ltd.



133

Ø- l-s. no.






5 Jh fot; xxZShri Vijay Garg

ch-dkWe- ,y,ych¼,½] ihthMhMh] ,Qlh,B.Com, LLB (A), PGDD, FCA


01- fuos'k lfefr01- Investment Committee02- ys[kk ijh{kk lfefr02- Audit Committee03- ikfjJfed lfefr03- Remuneration Committee04- uSfrdrk lfefr04-Ethics Committee

izks,ykbal ,MokbtlZ izkbosV fyfeVsMProalliance Advisors Private Limited

6 Jh vejnhi flag ckyhShri Amardeep Singh Bali

,ech,] ,e,l¼Qk;usal½MBA, MS (Finance


01- fuos'k lfefr01- Investment Committee02- ys[kk ijh{kk lfefr02- Audit Committee03- ikfjJfed lfefr03- Remuneration Committee04- uSfrdrk lfefr04- Ethics Committee05- lh,lvkj lfefr05- CSR Committee

Qksj dalYVsaV~l izk- fy-Fore Consultants Pvt. Ltd.,Llkj iksVZ~l fyfeVsMEssar Ports Limited,LLkkj cYd VfeZuy¼lyk;k½ fyfeVsMEssar Bulk Terminal (Salaya) Limited,LLkkj cYd VfeZuyEssar Bulk Terminal LimitedokMhukj vkW;y VfeZuy fyfeVsMVadinar Oil Terminal Limited,Llkj MzSftax fyfeVsM (DOA- 21/07/2014, DOC- 25/09/2014) Essar Dredging Limited (DOA- 21/07/2014, DOC- 25/09/2014),LLkkj fotkx VfeZuYl fyfeVsMEssar Vizag Terminals Limited


Ø- l-s. no.






,LLkkj cYd VfeZuy iSjkfMi fyfeVsMEssar Bulk Terminal Paradip Limited,LLkkj iSjkfMi VfeZuYl fyfeVsM Essar Paradip Terminals LimitedokMhukj iksVZ~l ,aM VfeZuYl fyfeVsMVadinar Ports & Terminals LimitediSVzks VSadstst bafM;k fyfeVsMvPetroTankages India Limited

7 Jh dqynhi flagShri Kuldip Singh

ch-,llh- (Ag. Hons.), PGDSEM, LIIIB.Sc. (Ag. Hons.), PGDSEM, LIII

iw.kZdkfyd funs'kdWhole Time Director

01- ys[kk ijh{kk lfefr01- Audit Committee02- tksf[ke izca/ku lfefr02- Risk Committee03- ikWfylh/kkjd laj{k.k lfefr03- Policyholder’s Protection

Committee04- lEifRr leh{kk lfefr04- Proterty Committee05- lwpuk izkS|ksfxdh lfefr05- IT Committee06- lh,lvkj lfefr06- CSR Committee

n baMfLVzh; ØsfMV dEiuh fyfeVsM,xzhdYpj ba';ksjsal dEiuh vkWQ bafM;k fyfeVsMThe Industrial Credit Company LimitedAgriculture Insurance Company of India Limited

8 Jh lqtk; cuthZShri Sujay Banarji

,e,, AIIIMA, AIII

iw.kZdkfyd funs'kdWhole Time Director

,aXyks&QzSap MzXl ,aM baMLVzht fyfeVsMAnglo-French Drugs & Industries Limited



135

Ø- l-s. no.






Past (since the last annual Report) 1 Jh ,l-,y-

caly¼fnukad 13-12-2012 dks fu;qDr gq, vkSj fnukad 30-9-2015 dks vf/kokf"kZrk dh vk;q gksus ij funs'kd ugha jgs½Shri S. L. Bansal (Appointed on 13.12.2012 and ceased to be Director on 30.9.2015 on attaining the age of superannuation)

,e- dkWe] CAIIBM.Com, CAIIB

v/;{k ,oa izca/k funs'kd] n vksfj,.Vy cSad vkWQ dkWelZ ¼Lora= funs'kd½Chairman cum Managing Director of The Oriental Bank Of Commerce(Independent Director)

01- fuos'k lfefr01- Investment Committee02- ys[kk ijh{kk lfefr02- Audit Committee03- vihy ,oa Lekjd lfefr03- Appeal & Memorial

Committee04- ikfjJfed lfefr04- Remuneration Committee05- uSfrdrk lfefr05- Ethics Committee06- lh,lvkj lfefr06- CSR Committee

v/;{k ,oa izca/k funs'kd] n vksfj,.Vy cSad vkWQ dkWelZdsujk] ,p,lchlh] vksfj,aVy cSad vkWQ dkWelZ ykbQ ba';ksjasl dEiuh fyfeVsM

Chairman & Managing Director, Oriental Bank of CommerceCanara, HSBC, Oriental Bank of Commerce Life Insurance Co. Ltd.


eaMy cSBd dh >yfd;kagliMPses FRoM BoaRd Meeting



137

CoRPoRate vision stateMent

to Be the Most ResPeCted&

PReFeRRed non-liFeinsUReR in the

MaRKets We oPeRate

fuxfer ladYi dFkuizpkyu {ks=ksa esa lcls lEekfur

,oa okaNuh;lkèkkj.k chekdrkZ cuuk


indePendent aUditoR’s RePoRtto the MeMBeRs oF the oRiental insUR-anCe CoMPanY liMitedReport on the standalone Financial statementsWe have audited the accompanying standalone financial statements of THE ORIENTAL INSURANCE COMPANY LIMITED , which comprise the Balance Sheet as at 31st March, 2015, Profit and Loss Account ,Revenue Accounts, & the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information. In these financial statements are the returns of Head Office audited by us, 30 Regional Offices, one OSTC, 350 Div. Offices including 968 Business Centres, 497 Branches, One Foreign Branch and Two Foreign agencies, all audited by their respective Auditors. Also included is the un-audited return of one Foreign Run off agency duly certified by the Management and reinsurance treaty returns to the extent received as indicated in Accounting Policy No. 4.2, & 5.1(a).

Management’s Responsibility for the stan-dalone Financial statementsThe Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013, The Insurance Act, 1938, IRDAI Regulations 2002, as amended from time to time with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and

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i`Fkd foRrh; foojf.kdkvksa ds fy, izca/ku dk mRrjnkf;RodEiuh dk funs'kd eaMy dEiuh ¼ys[ks½ fu;ekoyh] 2014 ds fu;e 7 ds lkFk ifBr vf/kfu;e dh /kkjk 133 ds v/khu ys[kk ekudksa lfgr Hkkjr esa lkekU; rkSj ij Lohd`r ys[kkdj.k fl)karksa ds vuqlkj dEiuh dh foRrh; fLFkfr] foRrh; fu"iknu vkSj udn izokgksa dk lR; vkSj U;k;ksfpr voyksdu nsus okyh bu i`Fkd foRrh; foojf.kdkvksa dks rS;kj djus ds laca/k esa le; le; ij ;Fkk la'kksf/kr dEiuh vf/kfu;e] 2013 dh /kkjk 134¼5½] chek vf/kfu;e] 1938] vkbZvkjMh,vkbZ fofu;ekoyh] 2002 esa mfYyf[kr ekeyksa ds fy, mRrjnk;h gSA bl mRrjnkf;Ro esa dEiuh dh ifjlEifRR;ksa ds laj{k.k ds fy, vkSj /kks[kk/kfM+;ksa rFkk vU; vfu;ferrkvksa ds fuokj.k vkSj igpku djus¼ lehphu ys[kkdj.k uhfr;ksa ds p;u vkSj bUgas ykxw djus¼ ,sls fu.kZ; vkSj izkDdyu djus tks fd vkSfpR;iw.kZ vkSj foosdiw.kZ gksa¼ vkSj i;kZIr vkarfjd fu;a=.k iz.kkfy;ksa dk vkjs[ku] dk;kZUo;u vkSj vuqj{k.k djus ds fy,] tks ys[kkdj.k vfHkys[kksa dh lVhdrk vkSj l{kerk dks lqfuf'pr djus ds fy, izHkkoh :i ls dke dj jgh gksa] vf/kfu;e ds izko/kkuksa ds vuqlkj i;kZIr ys[kkdj.k vfHkys[kksa dk vuqj{k.k Hkh 'kkfey gS] tks lR; vkSj U;k;ksfpr voyksdu iznku djus okyh foRrh; foojf.kdkvksa dh rS;kjh vkSj izLrqfrdj.k ds



139

completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

auditor’s ResponsibilityOur responsibility is to express an opinion on these standalone financial statements based on our audit.

We have taken into account the provisions of The Insurance Act 1938, the IRDAI Regulations, 2002 as amended from time to time as well as section 133 of the Companies Act, 2013, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amount and the disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company’s preparation of the financial statements that give a true and Fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company’s Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.

fy, izklafxd gksa vkSj fdlh mYys[kuh; feF;k dFku ls eqDr gksa] pkgs og /kks[ks dh otg ls gks ;k =qfV dh otg ls gqvk gksA

ys[kk ijh{kdksa dk mRrjnkf;Rogekjk mRrjnkf;Ro viuh ys[kk ijh{kk ds vk/kkj ij bu i`Fkd foRrh; foojf.kdkvksa ij ,d er O;Dr djuk gSA

geus le; le; ij ;Fkk la'kksf/kr chek vf/kfu;e] 1938 vkSj vkbZvkjMh,vkbZ fofu;ekoyh] 2002 ds lkFk lkFk dEiuh vf/kfu;e] 2013 dh /kkjk 133] vkSj ,sls ys[kkdj.k rFkk ys[kk ijh{kk ekudksa dk /;ku j[kk gS ftUgsa vf/kfu;e vkSj blds v/khu cuk, x, fu;eksa ds izko/kkuksa ds varxZr ys[kk ijh{kk izfrosnu esa 'kkfey fd;k tkuk visf{kr gSA

geus viuh ys[kk ijh{kk vf/kfu;e dh /kkjk 143¼10½ ds v/khu fofufnZ"V ys[kk ijh{kk laca/kh ekudksa ds vuqlkj dh gSA bu ekudksa esa visf{kr gS fd ge uSfrd vis{kkvksa vkSj ;kstuk dk vuqikyu djsa vkSj ;g vkSfpR;iw.kZ vk'ofLr izkIr djus ds fy, ys[kk ijh{kk fu"ikfnr djsa fd D;k ;s foRrh; foojf.kdk,a egRoiw.kZ feF;k dFku ls eqDr gSaA

,d ys[kk ijh{kk esa foRrh; foojf.kdkvksa esa fufgr jkf'k vkSj izdVhdj.kks a ds ckjs esa ys[kk ijh{kk lk{; izkIr djus dh izfØ;k,a fu"ikfnr djuk 'kkfey gksrk gSA pquh xbZ izfØ;k,a ys[kk ijh{kd ds fu.kZ; ij fuHkZj djrh gSa] ftuesa foRrh; foojf.kdkvksa esa mYys[kuh; feF;k dFku dk vkdyu fd;k tkuk 'kkfey gS] pkgs og /kks[ks dh otg ls gks ;k =qfV dh otg ls gqvk gksA os tksf[ke vkdyu djrs le;] ys[kk ijh{kd dEiuh dh lR; vkSj U;k;ksfpr voyksdu nsus okyh foRrh; foojf.kdkvksa dh rS;kjh ls lacaf/kr vkarfjd foRrh; fu;a=.k ij fopkj djrk gS rkfd ,slh ys[kk ijh{kk izfØ;k,a rS;kj dh tk lds tks mu ifjfLFkfr;ks a esa lehphu gks aA ,d ys[kk ijh{kk esa dEiuh ds funs'kdksa }kjk iz;qDr ys[kkdj.k uhfr;ksa dh mi;qDrrk rFkk rS;kj fd, x, ys[kkdj.k izkDdyksa ds vkSfpR; dk ewY;kadu djus ds lkFk lkFk foRrh; foojf.kdkvks a ds lexz izLrqfrdj.k dk ewY;kadu fd;k tkuk Hkh 'kkfey gksrk gSA

gekjk fo'Okl gS fd gekjs }kjk izkIr fd;k x;k ys[kk ijh{kk lk{; i`Fkd foRrh; foojf.kdkvksa ij gekjs ys[kk ijh{kk er ds fy, vk/kkj eqgS;k djkus ds fy, i;kZIr vkSj lehphu gSA


opinionIn our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by The Insurance Act 1938, the IRDAI Regulations, 2002, as amended from time to time, as well as Section 133 of The Companies Act, 2013 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2015

a) In the case of Balance Sheet of the state of affairs of the company as at 31st March 2015.

b) In the case of Revenue Accounts of the loss in case of Fire & Miscellaneous Revenue Account and profit in case of Marine, for the year ended 31st March 2015.

c) In the case of Profit & Loss account of the profit for the year ended on that date.

d) In the case of Cash Flow statement of the Cash Flows for the year ended on that date.

emphasis of MattersWe draw attention to the following matters

i) Balance due to/from persons or bodies carrying on Insurance business, Reserve Deposit with ceding companies, Agent balances, Sundry Debtors, Sundry Creditors, Employees balances and Advances are pending reconciliation/ confirmation (Refer Note 26). Consequential effect, if any, of adjustments upon confirmation/reconciliation, is not ascertainable.

ii) Various claims have been repudiated by the company from time to time. Out of these certain numbers of claimants have gone into litigations at various forums. Financial impact if any on the profitability of the company remains indeterminate.

iii) Additional liability of Rs.14856.73 lacs on account of Gratuity relating to serving employees have been amortized over five years and 1/5th of the liability of Rs. 2971.35 lacs have been charged to Revenue/Profit & Loss account

er

gekjs er esa vkSj gekjh loksZRre lwpuk esa vkSj gesa fn, x, Li"Vhdj.kksa ds vuqlkj] mijksfYyf[kr i`Fkd foRrh; foojf.kdk,a le; le; ij ;Fkk la'kksf/kr chek vf/kfu;e] 1938 vkSj vkbZvkjMh,vkbZ fofu;ekoyh] 2002 ds lkFk lkFk dEiuh vf/kfu;e] 2013 dh /kkjk 133 }kjk visf{kr fnukad 31 ekpZ] 2015 dh fLFkfr ds vuqlkj dEiuh dh gkyr ds ckjs esa lwpuk bl izdkj visf{kr rjhds ls vkSj Hkkjr esa lkekU; rkSj ij Lohd`r ys[kkdj.k fl)karksa ds vuq:i iznku djrh gSa

d½ fnukad 31 ekpZ] 2015 dh fLFkfr ds vuqlkj dEiuh dh fLFkfr ds rqyu i= ds ekeys esaA

[k½ fnukad 31 ekpZ] 2015 dks lekIr o"kZ ds fy, ejhu ds ekeys esa ykHk vkSj vfXu o fofo/k jktLo ys[ks ds ekeys esa gkfu ds jktLo ys[kksa ds ekeys esaA

x½ mDr rkjh[k dks lekIr o"kZ ds fy, ykHk ds fy, ykHk gkfu ys[ks ds ekeys esaA

?k½ mDr rkjh[k dks lekIr o"kZ ds udn izokgksa ds fy, fy, udn izokg foojf.kdk ds ekeys esaA

egRoiw.kZ ekeysge fuEufyf[kr ekeyksa dh vksj /;ku vkdf"kZr djrs gSa

i) chek dkjksckj dj jgs O;fDr;ksa ;k fudk;ksa dks@ls ns; 'ks"k] lhfMax dEifu;ksa esa vkjf{kr tek] ,tsaVksa ds 'ks"k] NksVs nsunkjksa ds 'ks"k] deZpkfj;ksa ds 'ks"k vkSj vfxzeksa ij lek'kks/ku@iqf"V yafcr gSA ¼fVIi.kh 26 dk lanHkZ ysa½A iqf"V@lek'kks/ku ds ckn lek;kstu ds ifj.kkeh izHkko] ;fn dksbZ gks] dk vkdyu ugha fd;k tk ldrkA

ii) dEiuh }kjk le; le; ij vusd nkoksa dk ifjR;kx fd;k x;k gSA buesa ls dfri; la[;k esa nkosnkj fofHkUu eapksa ij eqdn~nesackth esa pys x, gSaA dEiuh dh ykHkiznrk ij foRrh; izHkko] ;fn dksbZ gks] vfu/kkZfjr cuk gqvk gSA

iii) lsokjr deZpkfj;ksa ls lacaf/kr xzsP;qVh ds ys[ks ij #-14856-73 yk[k dh vfrfjDr nsunkjh dks ifj'kksf/kr fd;k x;k gS vkSj #- 2971-35 yk[k dh nsunkjh dk 1@5oka Hkkx vkbZvkjMh,vkbZ }kjk nh xbZ vuqefr ds vuqlkj jktLo@ykHk gkfu ys[ks esa izHkkfjr fd;k x;k



141

gSA rFkkfi] vkbZlh,vkbZ }kjk tkjh deZpkfj;ksa ds ykHkksa ij ys[kkdj.k ekud 15 ¼la'kksf/kr½ ds vuqlkj] leLr nsunkjh dks x.kuk ds o"kZ ds ykHk gkfu ys[ks esa izHkkfjr fd;k tkuk visf{kr gSA ifj.kkeLo:i pkyw o"kZ ds ykHk esa #- 2971-35 yk[k dh deh gqbZ gSA

iv) iqu%LFkkiu chek izhfe;e dh jkf'k cfg;ksa esa ntZ gq, fcuk jg xbZ gS ftldk leorhZ izHkko nkoksa ij mixr jkf'k ij iM+rk gS ftlds fy, ;g ek=k vfu/kkZfjr jg xbZ gSA

v) dEiuh us lw{e] y?kq vkSj e/;e m|e fodkl vf/kfu;e 2006 ds varxZr izdhVdj.k dh vis{kkvkssaa dk vuqikyu ugha fd;k gSA

vi) lnL; ys[kk ijh[kk cksMZ] lh,th ds funs'kksa] mi&funs'kksa vkSj vfrfjDr mi&funs'kksa ij gekjh fVIif.k;ka bl fjiksVZ ds lkFk vuqca/k (i) ls (iv) ds :i esa layXu gSaA

vii) vkdfLed nsunkfj;ksa ls lacaf/kr fVIi.kh la[;k 1 ftlesa Ø- la- ¼M-½ ij #- 5671-12 yk[k dh lkafof/kd ekaxksa@nsunkfj;ksa dk mYys[k fd;k x;k gS ftlesa vk; dj izkf/kdkfj;ksa }kjk vkdyu o"kZ 2005&06 vkSj 2010&11 ds fy, yxk, x, tqekZus dh jkf'k #- 5634-08 yk[k 'kkfey gS] ftlds fy, dEiuh }kjk dksbZ izko/kku ugha fd;k x;k gSA

viii) dfri; lEifRr;ksa ds LokfeRo nLrkostksa dh vuqiyC/krk ls lacaf/kr fVIi.kh la[;k 25

ix) vpy lEifRr;ksa lfgr LFkk;h ifjlEifRR;ksa ds vfHkys[k iw.kZ ugha gSa vkSj@;k vuqjf{kr ugha fd, x, gSa tSlk fd dfri; ekeyksa esa visf{kr gSA

x) dEiuh dh vkarfjdr ys[kk ijh{kk@laxkeh ys[kk ijh{kk dks ys[kk ijh{kk ds dojst vkSj vuqikyuksa ds {ks=ksa esa dkQh lqn`<+hdj.k dh vko';drk gSA

xi) dEiuh }kjk vkLFkfxr dj ifjlEifRr;ksa dh vLohd`fr ls lacaf/kr fVIi.kh la[;k 42

xii) vk; dj ij #- 1914 yk[k ds C;kt dh cqfdax ls lacaf/kr fVIi.kh la[;k 29(IV)

xiii) ewY;g`kl@_.k 'kks/ku {kerk dh ys[kkdj.k uhfr esa

in the current year as permitted by IRDAI. However, in terms of Accounting Standard 15 (Revised) on Employees benefits issued by ICAI, entire liability is required to be charged to Profit & Loss account. Entire liability was required to be charged to Profit & Loss Account in the year of reckoning. As a result the current year profit has decreased by Rs.2971.35 lacs.

iv) Amount of reinstatement insurance premium remains un-booked having corresponding effect on the claims incurred account for which quantum remains indeterminate.

v) The company has not complied with the requirements of disclosure under the Micro, Small and Medium Enterprises Development Act 2006.

vi) Our comments on Directions, Sub-directions and Additional Sub- Directions of the Member Audit Board, CAG are annexed to this report vide Annexure (i) to (iv).

vii) Note No.1 regarding Contingent Liability wherein vide Sr. No. (e) statutory demands / liabilities of Rs 5671.12 Lacs is mentioned which includes a sum of Rs 5634.08 Lacs of penalty imposed by the Income Tax Authorities for the AY 2005-06 and 2010-11, for which no provision has been made by the company.

viii) Note No.25 regarding non-availability of title documents of certain properties.

ix) Fixed Assets including immovable properties records are not complete and/or not maintained as required in certain cases.

x) The Internal Audit / Concurrent Audit of company require substantial strengthening in the areas of audit coverage and compliances.

xi) Note no. 42 pertaining to non recognition of Deferred Tax Asset by the company.

xii) Note no. 29(IV) regarding booking of interest on Income Tax of Rs. 1914 Lacs.

xiii) Note no. 27 pertaining to change in Accounting Policy of Depreciation/ Amortization.


other MatterWe did not audit the financial statements/information of 30 Regional offices, One OSTC, 350 Divisional offices including 968 Business Centres, 497 Branches, One Foreign Branch and Two Foreign Agencies whose financial statements/financial information reflect total assets(WDV) of Rs. 8367.Lacs as at 31st March, 2015 and total Gross revenues of Rs.756192 Lacs. The financial statements/information of these branches have been audited by the branch auditors whose reports have been furnished to

us, and our opinion in so far as it relates to the amounts and disclosures included in respect of these branches, is based solely on the report of such branch auditors.

Our opinion is not modified in respect of this matter.

Report on other legal and Regulatory Require-mentsAs required by Section143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

(b) In our opinion , proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books and proper returns adequate for the purposes of our audit have been received from the offices not visited by us.

(c) The reports on the accounts of the offices of the Company audited under Section 143 (8) of the Act by branch auditors have been sent to us and have been properly dealt with by us in preparing this report.

(d) The Balance Sheet, the Profit and Loss Account, Revenue Accounts and the Cash Flow Statement dealt with by this Report are in agreement with the books of accounts and with the returns received from the offices not visited by us.

(e) In our opinion, the aforesaid standalone

ifjorZu ls lacaf/kr fVIi.kh la[;k 27

vU; ekeys

geus {ks=h; dk;kZy;ksa] ,d vks,lVhlh] eaMy dk;kZy;ksa ftuesa dkjksckj dsanz] 'kk[kk,a] ,d fons'kh 'kk[kk vkSj nks fons'kh ,tsafl;ka 'kkfey gSa] dh foRrh foojf.kdkvksa@lwpuk dh ys[kk ijh{kk ugha dh gS ftlesa fnukad 31ekpZ] 2015 dh fLFkfr ds vuqlkj #- 8367 yk[k dh dqy ifjlEifRr;ka (WDV) vkSj #- 756192 yk[k dk ldy jktLo ifjyf{kr gksrs gSaA bu 'kk[kkvksa dh foRrh; foojf.kdkvksa@lwpuk dh ys[kk ijh{kk 'kk[kk ys[kk ijh{kdksa }kjk dh xbZ gS ftudh fjikVZsa gesa izLrqr dh xbZ gSa] vkSj gekjs er esa tgka rd ;g bu 'kk[kkvksa ds laca/k esa 'kkfey jkf'k;ksa vkSj izdVhdj.kksa ls lacaf/kr gS] ,dek= ,sls 'kk[kk ys[kkijh{kdksa dh fjiksVZ ij vk/kkfjr gSA

bl ekeys esa gekjk er la'kksf/kr ugha gSA

vU; fof/kd vkSj fofu;ked vis{kkvksa ij izfrosnutSlk fd vf/kfu;e dh /kkjk 143 ¼3½ }kjk visf{kr gS] ge lwfpr djrs gSa fd%

(a) geus og lc lwpuk vkSj Li"Vhdj.k ekaxs gSa vkSj izkIr fd, gSa tks gekjs loksZRre Kku vkSj fo'okl ds vuqlkj gekjh ys[kk ijh{kk ds iz;kstuksa gsrq vko';d FksA

(b) gekjs er esa] fof/k }kjk ;Fkksisf{kr mi;qDr ys[kk iqfLrdk,a dEiuh }kjk j[kh xbZ gSa tgka rd mu iqfLrdkvksa dh gekjh tkap ls izrhr gksrk gS vkSj gekjh ys[kk ijh{kk ds iz;kstuksa gsrq mi;qDr foojf.k;ka mu dk;kZy;ksa ls izkIr gqbZ gSa tgka geus nkSjk ugha fd;k gSA

(c) 'kk[kk ys[kk ijh{kdksa }kjk vf/kfu;e dh /kkjk 143 ¼8½ ds varxZr ys[kk ijhf{kr dEiuh ds dk;kZy;ksa ds ys[kksa ij izfrosnu gesa Hksts x, gSa vkSj geus bl izfrosnu dks rS;kj djrs le; budk mi;qDr :i ls bLrseky fd;k gSA

(d) bl izfrosnu esa ftu rqyu i=] ykHk gkfu ys[ks] jktLo ys[kksa vkSj udn izokg foojf.kdk dk mi;ksx fd;k x;k gS os mu dk;kZy;ksa ls izkIr ys[kk iqfLrdkvksa vkSj foojf.k;ksa ds vuq:i gSa ftudk nkSjk geus ugha fd;k gSA

(e) gekjs erkuqlkj] mi;qZDr i`Fkd foRrh; foojf.kdk,a



143

dEiuh ¼ys[ks½ fu;ekoyh] 2014 ds fu;e 7 ds lkFk ifBr vf/kfu;e dh /kkjk 133 dk vuqikyu djrh gSaA

(f ) fnukad 31ekpZ] 2015 dh fLFkfr ds vuqlkj funs'kd eaMy }kjk fjdkWMZ eas fy, x, funs'kdksa ls izkIr fyf[kr vH;kosnuksa ds vk/kkj ij] dksbZ Hkh funs'kd 31ekpZ] 2015 dh fLFkfr ds vuqlkj vf/kfu;e dh /kkjk 164 ¼2½ds vuqlkj funs'kd ds :i esa fu;qDr fd, tkus ds fy, v;ksX; ugha gSA

(h) tgka rd dEiuh ¼ys[kk ijh{kk vkSj ys[kk ijh{kd½ fu;e] 2014 ds fu;e 11 ds vuqlkj ys[kk ijh{kdksa ds izfrosnu esa 'kkfey fd, tkus okys vU; ekeyksa dk laca/k gS] gekjs erkuqlkj vkSj gekjh loksZRre tkudkjh vkSj gesa fn, x, Li"Vhdj.k ds vuqlkj%

a. ,slk dksbZ eqdn~nek yafcr ugha gS ftldk izHkko dEiuh dh i`Fkd foRrh; fLFkfr ij iM+sA

b. dEiuh dh O;qRiUu lafonkvksa lfgr nh?kkZof/kd lafonkvksa ij dksbZ egRoiw.kZ vuqekU; gkfu ugha FkhA

c. ,slh dksbZ jkf'k ugha Fkh ftls fuos'kd f'k{k.k ,oa laj{k.k fuf/k esa varfjr fd;k tkuk visf{kr gksA

pkVZMZ ,dkmaVsaVl

dsih,evkj ,aM ,lksfl,V~lpkVZMZ ,dkmaVsaV,Qvkj,u la- 02504NlnL;rk la[;k 081750

,l-eku ,aM daiuhpkVZMZ ,dkmaVsaV

,Qvkj,u la-000075NlnL;rk la[;k 080500

gLr{kkj dh txg% ubZ fnYyhfjiksVZ dh rkjh[k% 15 ebZ] 2015

financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

(f ) On the basis of the written representations received from the directors as on 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015from being appointed as a director in terms of Section 164 (2)of the Act.

(h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

a. There were no pending litigations which would impact the standalone financial position of the company.

b. The company did not have any material foreseeable losses on long-term contracts including derivative contracts.

c. There were no amounts which were required to be transferred to the Investor Education and Protection Fund .

ChaRteRed aCCoUntantsKPMR & assoCiates s. Mann & Co.CA S.M. Yamin Qureshi CA Subhash MannDesignation - Partner Designation PartnerMembership No. 081750 Membership No. 080500

Firm Registration No. 02504N Firm Registration No. 000075N

Place of Signature : New DelhiDate of Report : 15th May, 2015


fnukad 31 ekpZ] 2015 dks lekIr o"kZ ds fy, n vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa ij dEiuh vf/kfu;e] 2013 dh /kkjk 143 ¼8½ ds varxZr Hkkjr ds fu;a=d ,oa egkys[kk ijh{kd dh fVIif.k;ka

fofu;ked ,oa fodkl izkf/kdj.k ¼chek dEifu;ksa dh foRrh; foojf.kdk vkSj ys[kk ijh{kd ds izfrosnu dh rS;kjh½

fofu;ekoyh] 2002 vkSj dEiuh vf/kfu;e] 2013 ds lkFk ifBr chek vf/kfu;e] 1938 ds v/khu fu/kkZfjr fd, x,

foRrh; izfrosnu izk:i ds vuqlkj fnukad 31 ekpZ] 2015 dks lekIr o"kZ ds fy, n vksfj,.Vy ba';ksjsal dEiuh

fyfeVsM dh foRrh; foojf.kdkvksa dks rS;kj djuk dEiuh ds izca/ku dk nkf;Ro gSA vf/kfu;e dh /kkjk 139¼5½ ds

v/khu Hkkjr ds fu;a=d ,oa egkys[kkijh{kd }kjk fu;qDr lkafof/kd ys[kk ijh{kd vf/kfu;e dh /kkjk 143¼10½ ds

v/khu fu/kkZfjr ys[kk ijh{k.k ij ekudksa ds vuqlkj Lora= ys[kk ijh{kk ds vk/kkj ij vf/kfu;e dh /kkjk 143 ds

varxZr foRrh; foojf.kdkvksa ij er O;Dr djus ds fy, mRrjnk;h gSaA ;g dk;Z muds }kjk fnukad 15 ebZ 2015

ds ys[kk ijh{kk izfrosnu ds }kjk fd;k x;k gSA

eSaus] Hkkjr ds fu;a=d ,oa egkys[kkijh{kd dh vksj ls] vf/kfu;e dh /kkjk 143¼6½¼d½ ds varxZr fnukad 31ekpZ] 2015

dks lekIr o"kZ ds fy, n vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa dh vuqiwjd ys[kkijh{kk dh

gSA ;g vuqiwjd ys[kk ijh{kk lkafof/kd ys[kk ijh{kd ds dk;Z'khy nLrkostksa rd igqWap ds fcuk Lora= :i ls dh

xbZ gS vkSj ;g eq[;r% lkafof/kd ys[kk ijh{kdksa vkSj dEiuh dkfeZdksa dh tkapksa vkSj dqN ys[kkdj.k vfHkys[kksa dh

pquh gqbZ tkap rd lhfer gSA viuh ys[kk ijh{kk ds vk/kkj ij] esjh tkudkjh esa ,slk dqN mYys[kuh; ugha vk;k gS

ftlls lkafof/kd ys[kk ijh{kdksa ds izfrosnu ij ;k blds vuqiwj.k essa dksbZ fVIi.kh mRiUu gksrh gksA

d`rs vkSj Hkkjr ds fu;a=d ,oa egkys[kkijh{kd

dh vksj ls

¼lqi.kkZ nso½

iz/kku okf.kfT;d ys[kkijh{kk funs'kd

,oa insu lnL;] ys[kk ijh{kk cksMZ&AA

ubZ fnYYkh

LFkku% ubZ fnYyh

rkjh[k% 15-07-2015



145


chekdrkZ dk uke: n vksfj,.Vy ba';ksjasl dEiuh fyfeVsMiathdj.k la[;k vkSj vkbZvkjMh,vkbZ esa uohdj.k dh rkjh[k% 556 fnukad 25-02-201431 ekpZ 2015 dks lekIr o"kZ ds fy, vfXu chek jktLo ys[kknaMe oF insUReR: the oRiental insURanCe CoMPanY liMited RegistRation no. and date oF ReneWal With iRdai: 556 dated 25.02.2014FiRe insURanCe RevenUe aCCoUnt FoR YeaR ended 31st MaRCh 2015

(` in '000')

fooj.kParticulars

vuqlwphschedule

31-03-15 dks lekIr o"kZYear ended

31.03.15


31.03.141- vftZr jktLo ¼fuoy½1. Premium earned (Net)

1 5900214 6604357

2- fuos'kksa dh fcØh@'kks/ku ij ykHk@gkfu2. Profit/Loss on sale/redemption of Investments

792421 802272

3- vU; & fofue; ij ykHk@¼gkfu½3. Others - Profit/(Loss) on exchange

23983 (9467)

4- C;kt] ykHkka'k vkSj fdjk;k & ldy4. Interest, Dividend & Rent - Gross

1010554 933537

dqy ¼d½ total (a)

7727172 8330699

1- mixr nkos ¼fuoy½1. Claims Incurred (Net)

2 4250553 5552520

2- deh'ku2. Commission

3 262331 206235

3- chek dkjksckj ls lacaf/kr izpkyfud [kpZs3. Operating Expenses related to Insurance

Business

4 3446802 2752146

4- vU;4. Others

d½ ekud ifjlEifRr;ksa@,uih, ds fy, izko/kkua) Provision for Standard Assets/NPA

(3184) 1021

[k½ 'ks;jksa ds ewY; esa gzkl ds fy, izko/kkub) Provision for Diminution in Value of Shares

(1982) 5863

x½ _.k 'kks/ku O;;c) Amortization Expenses

9749 9616

?k½ cV~Vs [kkrs Mkyk x;k fuos'k ¼fuoy½d) Investment Written Off (Net)

11139 11828

M+½ izhfe;e dh dehe) Premium deficiency

0 0

dqy ¼[k½ total (B)

7975408 8539230



147

vfXu dkjksckj ls izpkyfud ykHk@¼gkfu½x = ¼d – [k½Operating Profit/(Loss) from fire business C = (A - B)

(248236) (208531)

fofu;kstuAppropriations'ks;j/kkjdksa ds [kkrs esa varj.kTransfer to shareholders' Account

(248236) (208531)

vkink vkjf{kfr esa varj.kTransfer to Catastrophe Reserve

NIL NIL

lkekU; vkjf{kfr esas varj.kTransfer to General Reserve

NIL NIL

dqy ¼x½ total (C)

(248236) (208531)

mYys[kuh; ys[kkdj.k uhfr;ka vkSj ys[kkvksa ij fVIif.k;kaSignificant Accounting Policies and Notes to Accounts

16

mij lanfHkZr vuqlwfp;ka rqyu i= dk vfHkUu vax gSaThe Schedules referred to above form integral part of the Balance Sheetgekjh layXu ys[kk ijh{kd fjiksVZ ds vuqlkjAs per our auditors report attached

d`rs dsih,evkj ,aM ,lksfl,V~lpkVZMZ ,dkmaVsaV,Qvkj,u la- 02504NFor KPMR & AssociatesChartered AccountantsFRN No. 02504N

d`rs ,l-eku ,aM daiuhpkVZMZ ,dkmaVsaV,Qvkj,u la-000075N For S.MANN & CO. Chartered Accountants FRN No.000075N

¼MkW- ,-ds- lDlsuk½v/;{k ,oa izca/k funs'kddR. a.K. saXenaChairman-cum-Managing Director

lh-,- ,l-,e-okbZ dqjS'khHkkxhnkjlnL;rk la[;k 081750Ca. s.M.Y. QureshiPartner M. No. 081750

lh-,- lqHkk"k ekuHkkxhnkjlnL;rk la[;k 080500Ca. subhash MannPartnerM. No. 080500

,u- Jhfuokl jkofuns'kdn. srinivasa RaoDirector

dqynhi flagfuns'kd Kuldip singhDirector

ds- jeknsohegkizca/kd ,oa eq[; foRrh; vf/kdkjhK.RamadeviGM & Chief Financial Officer

jf'e cktis;hdaiuh lfpoRashmi Bajpai Company Secretary

lqt; cuthZfuns'kdsujay BanarjiDirector

LFkku% ubZ fnYyhfnukad% 15.05.2015

Place: New DelhiDated: 15.05.2015


chekdrkZ dk uke% n vksfj,.Vy ba';ksjasl dEiuh fyfeVsMiathdj.k la[;k vkSj vkbZvkjMh,vkbZ esa uohdj.k dh rkjh[k% 556 fnukad 25-02-201431 ekpZ 2015 dks lekIr o"kZ ds fy, ejhu chek jktLo ys[kknaMe oF insUReR: the oRiental insURanCe CoMPanY liMited RegistRation no. and date oF ReneWal With iRdai: 556 dated 25.02.2014MaRine insURanCe RevenUe aCCoUnt FoR the YeaR ended 31st MaRCh 2015

(` in '000')

fooj.kParticulars

vuqlwphschedule


31.03.15



1 3001854 2855003


298512 319420


339 (11405)


380684 371682

dqy ¼d½ total (a)

3681389 3534700


2 1212855 1665981


3 274977 284883


Business

4 1016348 882087

4- vU;4. Others


(1200) 407


(747) 2334


3673 3829


4196 4709


0 0


2510102 2844230



149

ejhu dkjksckj ls izpkyfud ykHk@¼gkfu½x = ¼d – [k½Operating Profit/(Loss) from fire business C = (A - B)

1171286 690470


1171286 690470


NIL NIL

lkekU; vkjf{kfr esas varj.kTransfer to other reserves

NIL NIL

dqy ¼x½Total(C)

1171286 690470


16















chekdrkZ dk uke% n vksfj,.Vy ba';ksjasl dEiuh fyfeVsMiathdj.k la[;k vkSj vkbZvkjMh,vkbZ esa uohdj.k dh rkjh[k% 556 fnukad 25-02-201431 ekpZ 2015 dks lekIr o"kZ ds fy, fofo/k chek jktLo ys[kknaMe oF insUReR: the oRiental insURanCe CoMPanY liMited RegistRation no. and date oF ReneWal With iRdai: 556 dated 25.02.2014MisCellaneoUs insURanCe RevenUe aCCoUnt FoR the YeaR ended 31st MaRCh 2015

(` in '000')

fooj.kParticulars

vuqlwphschedule


31.03.15



1 55349582 50080323


6102709 5918374


(9476) (21685)


7782626 6886717

dqy ¼d½ total (a)

69225441 62863729


2 47151628 43891701


3 2940861 3083301


Business

4 19016615 14120077

4- vU;4. Others


(24524) 7534


(15266) 43253


75080 70937


85784 87255


0 0


69230178 61304058



151

ejhu dkjksckj ls izpkyfud ykHk@¼gkfu½x = ¼d – [k½Operating Profit/(Loss) from fire business C = (A - B)

(4737) 1559671


(4737) 1559671


NIL NIL

lkekU; vkjf{kfr esas varj.kTransfer to other reserves

NIL NIL

dqy ¼x½Total(C)

(4737) 1559671


16















chekdrkZ dk uke% n vksfj,.Vy ba';ksjasl dEiuh fyfeVsMiathdj.k la[;k vkSj vkbZvkjMh,vkbZ esa uohdj.k dh rkjh[k% 556 fnukad 25-02-201431 ekpZ] 2015 dks lekIr o"kZ ds fy, ykHk ,oa gkfu [kkrknaMe oF insUReR: the oRiental insURanCe CoMPanY liMited RegistRation no. and date oF ReneWal With iRdai: 556 dated 25.02.2014PRoFit & loss aCCoUnt FoR the YeaR ended 31st MaRCh 2015

(` in '000')

Ø-la-s.no.

fooj.kParticulars


31.03.15

31-03-14 dks lekIr o"kYear ended

31.03.141 izpkyu ykHk@¼gkfu½

oPeRating PRoFit /(loss)¼d½ vfXu chek (a) Fire Insurance

(248236) (208531)

¼[k½ eSjhu chek(b) Marine Insurance

1171286 690470

¼x½ fofo/k chek(c) Miscellaneous Insurance

(4737) 1559671

2 fuos'kksa ls vk;inCoMe FRoM investMents¼d½ C;kt] ykHkka'k o fdjk;k&ldy (a) Interest, Dividend & Rent - Gross

2599542 2291116

¼[k½ fuos'kksa dh fcØh@'kks/ku ij ykHk(b) Profit on sale/redemption of investment

2038418 1968962

?kVk,a% fuos'kksa dh fcØh@'kks/ku esa gkfuLess: Loss on sale/redemption of investment

0 0

3 vU; vk; otheR inCoMe

LFkk;h ifjlaifRr;ksa dh fcØh ij ykHk@¼gkfu½Profit/(Loss) on sale of fixed assets

(3276) 9965

fofo/k vk;Miscellaneous Income

66244 27943

cV~Vs [kkrs Mkyk x;k iqjkuk@vnkoh 'ks"kOld/Unclaimed Balance Written Back

68180 45443

fofue; ykHk@¼gkfu½Exchange Gain/(Loss)

(161625) 148381

vk;dj fjQaM ij C;ktInterest on income-tax refunds

226050 292790

dqy ¼d½TOTAL (A)

5751846 6826210



153

Ø-la-s.no.

fooj.kParticulars


31.03.15


31.03.144 izko/kku ¼djk/kku ds vfrfjDr½

PRovisions (other than taxation)¼d½ fuos'kksa ds ewY; esa deh ds fy,(a) For diminution in the value of investments

(5099) 14390

¼[k½ v'kks/; vkSj lafnX/k _.kksa@fuos'kksa ds fy,(b) For bad and doubtful debts\Investment

(606723) 148386

¼x½ ifj'kks/ku O;;(c) Amortisation Expenses

25078 23599

5 vU; O;;otheR eXPensesd½ chek O;olk; ls lacaf/kr O;;ksa ds vfrfjDr vU; ykHka) Expenses other than those relating to

Insurance Business

0 0

[k½ cV~Vs [kkrs Mkys x, iqjkus@v'kks/; 'ks"kb) Old/Irrecoverable balances written off

406 1016

x½ ekud ifjlaifRr;ksa@,uih, ds izko/kkuc) Provision on Standard Assets/NPA

(8191) 2507

?k½ cV~Vs [kkrs Mkys x, fuos'k ¼fuoy½d) Investments written off (Net)

28654 29028

M+½ lh,lvkj O;;e) CSR Expendiure

79200 0

p½ Hkqxrku fd, x, vk; dj ij C;ktf ) Interest on income-tax paid

65148 0

dqy ¼[k½total (B)

(421527) 218926


Ø-la-s.no.

fooj.kParticulars


31.03.15


31.03.14dj iwoZ ykHkProfit Before Tax

6173373 6607284

tksM+sa@¼?kVk,½% iwoZ vof/k vk;Add/(Less): Prior Period Income

1208 2948

tksM+sa@¼?kVk,½% iwoZ vof/k O;;Add/(Less): Prior Period Expenses

28926 (72127)

tksM+sa@¼?kVk,½% vuq"kaxh ykHk dj ds fy, izko/kkuAdd/(Less): Provision for Fringe Benefit Tax

0 0

tksM+sa@¼?kVk,½% djk/kku ds fy, izko/kku & pkyw o"kZAdd/(Less): Provision for taxation - Current Year

(2282028) (1998005)

tksM+sa@¼?kVk,½% vkLFkfxr djk/kku ds fy, izko/kkuAdd/(Less): Provision for Deferred Taxation

0 0

tksM+sa@¼?kVk,½% iwoZ o"kksZa ds fy, dj dk izko/kkuAdd/(Less):Provision for tax in respect of earlier years

(527) 62774

dj i'pkr ykHkProfit after Tax

3920952 4602873

fofu;kstuAPPROPRIATIONS¼d½ o"kZ ds izkjaHk esa 'ks"k(a) Balance at the beginning of the year

0 0

¼[k½ o"kZ ds nkSjku Hkqxrku fd, x, varfje ykHkka'k(b) Interim dividends paid during the year

0 0

¼x½ izLrkfor vafre ykHkka'k(c) Proposed final dividend

(1100000) (1080000)

¼?k½ ykHkka'k forj.k dj(d) Dividend distribution tax

(219972) (183546)

¼M+½ vkjf{kfr;ksa@vU; [kkrksa esa varj.k:(e) Transfer to reserves/ other accounts:

(i) lkekU; vkjf{kfr;ka (i) General Reserves

2600980 3339327

(ii) vlekIr tksf[keksa ds fy, vkdfLed vkjf{kfr (ii) Contingency Reserve for Unexpired Risks

0 0



155

Ø-la-s.no.

fooj.kParticulars


31.03.15


31.03.14fiNys o"kZ ls vxzsuhr ykHk@gkfu dk 'ks"kBalance of profit/loss brought forward from last year

0 0

rqyu i= esa vxzsuhr 'ks"kBalance carried forward to Balance Sheet

0 0

ewy@fojfyr vk; izfr 'ks;j ¼bZih,l½ #i, esa Basic/Diluted Earning Per Share (EPS) in Rs.

19.60 30.69

mYys[kuh; ys[kkadu uhfr;ka vkSj ys[kkvksa ds fy, uksV & vuqlwph 16Significant Accounting Policies and Notes to Accounts - Schedule 16mi;qZDr lanfHkZr vuqlwfp;ka rqyu%i= dk vfHkUu vax gSa The Schedules referred to above form integral part of the Balance Sheet

gekjh layXu ys[kk ijh{kd fjiksVZ ds vuqlkjAs per our auditors report attached














chekdrkZ dk uke% n vksfj,.Vy ba';ksjasl dEiuh fyfeVsMiathdj.k la[;k vkSj vkbZvkjMh,vkbZ esa uohdj.k dh rkjh[k% 556 fnukad 25-02-201431 ekpZ 2015 dks cSysal 'khV naMe oF insUReR: the oRiental insURanCe CoMPanY liMited RegistRation no. and date oF ReneWal With iRdai: 556 dated 25.02.2014 BalanCe sheet as at 31st MaRCh 2015

(` in '000')PaRtiCUlaRs schedule as at

31.03.2015as at

31.03.2014fuf/k;ksa ds lzksrSOURCES OF FUNDS'ks;j iwathSHARE CAPITAL

5 2000000 1500000

vkjf{kr ,oa vf/k'ks"kRESERVES AND SURPLUS

6 29818347 27717367

vkLFkfxr dj ns;rkDeferred Tax Liability

0 0

mfpr ewY; ifjorZu ys[kkFAIR VALUE CHANGE ACCOUNT

97291378 85701136

m/kkjBORROWINGS

7 0 0

dqytotal

129109725 114918503

fuf/k;ksa dk vuqiz;ksxAPPLICATION OF FUNDSfuos'kINVESTMENTS

8 & 8A 206594242 187670628

_.kLOANS

9 1896127 2042990

LFkk;h ifjlaifRr;kaFIXED ASSETS

10 956732 898005

pkyw iwathxr dk;ZCapital Work In Progress

10 623563 403996

vkLFkfxr dj ifjlaifRr;kaDeferred Tax Assets

0 0

pkyw ifjlaifRr;ka%CURRent assets:udn ,oa cSad 'ks"kCash and Bank Balances

11 24269975 22269889

vfxze o vU; ifjlaifRr;kaAdvances and Other Assets

12 28508003 25794950

mi&tksM ¼d½sub-total (a)

52777978 48064839



157

pkyw ns;rk,aCURRENT LIABILITIES

13 88119596 81528318

izko/kkuPROVISIONS

14 45619321 42930773

mi&tksM ¼[k½sub-total (B)

133738917 124459091

fuoy pkyw ifjlaifRr;ka = ¼d&[k½NET CURRENT ASSETS = (A-B)

(80960939) (76394252)

fofo/k O;;MISCELLANEOUS EXPENDITURE ¼ftudks cV~Vs [kkrs Mkyk x;k ;k lek;ksftr ugha fd;k x;k½(to the extent not written off or adjusted)

15 0 297135

ykHk o gkfu [kkrs esa ukes 'ks"kDEBIT BALANCE IN PROFIT AND LOSS ACCOUNT

0 0

dqytotal

129109725 114918502

mYys[kuh; ys[kkadu uhfr;ka vkSj ys[kkvksa ds fy, uksV Significant Accounting Policies and Notes to Accounts

16

mi;qZDr lanfHkZr vuqlwfp;ka rqyu%i= dk vfHkUu vax gSa The Schedules referred to above form integral part of the Balance Sheet















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159

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2549

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1592

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2576

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4839

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4599

8920

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113

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2006

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3936

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0476

2676

4789

8981

4033

827

1572

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6321

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Less

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5912

865

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533

5822

3896

3807

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od

Vhih&

ukWui

wytP

- n

on

Pool

Vhihiwy

tP P

oo

lVhihMhv

kj

iwytP

d.R

. Po

ol

dqy

tota

lvksMh

od

Vhih&

ukWui

wytP

- n

on

Pool

Vhihiwy

tP P

oo

lVhihMhv

kj

iwytP

d.R

. Po

ol

dqy

tota

l

31.0

3.20

15 d

ks l

ekIr

o"kZ

Year

end

ed 3

1.03

.201

531

.03.

2014

dks l

ekIr

o"kZ

Year

end

ed 3

1.03

.201

4

pqdrk n

kos

Clai

ms

Paid

izR;{

kD

irect

6297

003

7531

831

4996

394

1948

0919

0200

3759

1092

863

2095

553

9158

049

516

1767

2979

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

Acc

epte

d

111

00

3382

4033

8351

1387

20

010

6855

810

8242

9

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

3664

3695

7513

035

5941

1679

890

7818

4988

5527

022

9570

839

6308

3

fuoy

pqdrk n

kos

Net

Cla

ims

paid

5930

679

6574

318

4996

394

1771

0717

6784

9951

4295

154

3542

953

9158

0-1

1776

3414

7923

25

tksM+sa% pky

w o"kZ

dh lekfIr

ij

cdk;k nkos

AD

D: C

laim

s O

utst

andi

ng a

t the

end

of

Cur

rent

Yea

r

izR;{

kD

irect

3603

284

3240

3654

1993

9758

5294

081

6124

0777

3610

659

2351

0736

2438

6565

5031

502

5653

9462

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

Acc

epte

d

2528

40

00

2528

422

312

00

022

312

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

2853

4282

6241

60

3532

885

8308

535

5213

6210

781

019

328

6585

321

pky

w o"kZ

dh lekfIr

ij cd

k;k

fuoy

nkos

Net

Cla

ims

Out

stan

ding

Cur

rent

Yea

r

3343

226

2414

1238

1993

9758

5258

753

5268

2975

3277

759

1729

9955

2438

6565

5012

174

4997

6454

?kVk,a% x

r o"kZ dh lekfIr

ij

cdk;k nkos

LESS

: Cla

ims

Out

stan

ding

at t

he e

nd

of P

rev.

Yea

r



165

izR;{

kD

irect

3610

659

2351

0736

2438

6565

5031

502

5653

9462

3600

007

1710

1256

3076

5541

1274

144

5178

9144

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

Acc

epte

d

2231

20

00

2231

221

060

0-1

2547

510

-281

886

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

3552

1362

1078

10

1932

865

8532

143

4878

4844

587

074

752

8021

2

xr

o"kZ dh lekfIr

ij fuoy

cd

k;k nkos

Net

Cla

ims

Out

stan

ding

Pre

viou

s Yea

r

3277

759

1729

9955

2438

6565

5012

174

4997

6454

3186

189

1225

6669

2951

0789

1273

397

4622

7045

fuoy

mix

r nkos

Net

Cla

ims

Incu

rred

izR;{

kD

irect

6289

628

1642

4750

5495

8745

7388

2372

1352

5921

580

1273

0435

-987

396

3806

873

2147

1493

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

acc

epte

d

3082

00

3382

4034

1322

1512

40

1254

751

1068

558

2338

433

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

2965

6530

0914

80

3719

4236

7765

470

2183

2251

720

023

1428

852

6819

2

dqy m

ixr

nkos

TOTA

L CL

AIM

S IN

CURR

ED

5996

145

1341

5602

5495

8742

3686

2038

5020

5234

521

1047

8715

2673

5625

6114

318

5417

34

nkosn

kjksa dks pqdrk n

kos

Clai

ms

paid

to c

laim

ants

Hkkjr

esa

In In

dia

5729

829

6415

341

4996

394

1771

0717

3186

7147

1655

453

1247

253

9158

0-1

1776

3414

2429

71

Hkkjr

ls c

kgj

Out

side

Indi

a

2008

5015

8977

00

3598

2742

6397

1229

570

054

9354

dqy p

qdrk n

kos

Tota

l Cla

ims

Paid

5930

679

6574

318

4996

394

1771

0717

6784

9951

4295

154

3542

953

9158

0-1

1776

3414

7923

25


(` in

'000

')

fooj.

kPa

rtic

ular

sv

fHk;

kaf=dh

eng

inee

Rin

gdke

xkj

{kfr

iwfr

ZW

oRK

Men

's

CoM

Pen

sati

on

foeku

uav

iati

on

O;fD

rx

r n

q?kZVu

kPe

Rso

na

l a

CCid

ent

o"kZ lekIr

Year

end

ed

31.0

3.15

o"kZ lekIr

Year

end

ed

31.0

3.14

o"kZ lekIr

Year

end

ed

31.0

3.15

o"kZ lekIr

Year

end

ed

31.0

3.14

o"kZ lekIr

Year

end

ed

31.0

3.15

o"kZ lekIr

Year

end

ed

31.0

3.14

o"kZ lekIr

Year

end

ed

31.0

3.15

o"kZ lekIr

Year

end

ed

31.0

3.14

pqdrk n

kos

Clai

ms

Paid

izR;{

kD

irect

1562

339

1950

975

1766

3716

6434

6359

7850

0104

9324

3810

8971

0

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

Acc

epte

d

-131

948

2276

660

021

7127

1445

3175

850

652

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

3278

9567

6592

1488

414

792

4233

7533

4152

1557

0515

3832

fuoy

pqdrk n

kos

Net

Cla

ims

paid

1102

496

1502

049

1617

5315

1642

4297

3131

0483

7774

9198

6530

tksM+sa% pky

w o"kZ

dh lekfIr

ij cd

k;k

nkos

AD

D: C

laim

s O

utst

andi

ng a

t the

end

of

Curr

ent Y

ear

izR;{

kD

irect

4281

147

3593

243

2880

5431

7693

7356

6710

3847

781

2293

8442

36

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

Acc

epte

d

1085

171

1193

163

00

3248

8827

6009

4914

43

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

1903

777

1282

626

2387

528

991

6202

3977

8288

1610

1217

9379

pky

w o"kZ

dh lekfIr

ij cd

k;k fuoy

nkos

Net

Cla

ims

Out

stan

ding

Cur

rent

Yea

r

3462

541

3503

781

2641

8028

8702

4403

1653

6199

6513

3066

6301

?kVk,a% x

r o"kZ dh lekfIr

ij cd

k;k

nkos

LESS

: Cla

ims

Out

stan

ding

at t

he e

nd o

f Pr

ev. Y

ear

izR;{

kD

irect

3593

243

3588

700

3176

9331

9502

1038

477

9857

7484

4236

8176

95

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

Acc

epte

d

1193

163

5225

070

027

6009

2243

1614

4347

03



167

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

1282

626

1379

717

2899

146

055

7782

8874

6092

1793

7914

6094

xr

o"kZ dh lekfIr

ij fuoy

cdk;k

nkos

Net

Cla

ims

Out

stan

ding

Pre

viou

s Yea

r

3503

781

2731

490

2887

0227

3446

5361

9946

3998

6663

0167

6304

fuoy

mix

r nkos

Net

Cla

ims

Incu

rred

izR;{

kD

irect

2250

242

1955

519

1469

9816

4626

3331

6755

2807

9004

9511

1625

2

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

acc

epte

d

-239

940

8983

220

026

6007

1962

23-6

3647

392

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

9490

4657

9501

9767

-227

226

5326

3663

4713

7338

1871

17

dqy m

ixr

nkos

TOTA

L CL

AIM

S IN

CURR

ED

1061

256

2274

340

1372

3116

6898

3338

4838

2684

7625

2097

6527

nkosn

kjksa dks pqdrk n

kos

Clai

ms

paid

to c

laim

ants

Hkkjr

esa

In In

dia

1446

116

1440

868

1464

9213

9581

2782

9911

6896

7739

4993

2883

Hkkjr

ls c

kgj

Out

side

Indi

a

-343

620

6118

115

261

1206

115

1432

1935

8835

4253

647

dqy p

qdrk n

kos

Tota

l Cla

ims

Paid

1102

496

1502

049

1617

5315

1642

4297

3131

0483

7774

9198

6530


(` in

'000

')

fooj.

kPa

rtic

ular

sLo

kLF;

hea

lth

nsunk

jhli

aBi

litY

vU;

fofo

/ko

theR

Mis

Cell

an

eoU

s

dqy

tota

l

o"kZ lekIr

Year

end

ed

31.0

3.15

o"kZ lekIr

Year

end

ed

31.0

3.14

o"kZ lekIr

Year

end

ed

31.0

3.15

o"kZ lekIr

Year

end

ed

31.0

3.14

o"kZ lekIr

Year

end

ed

31.0

3.15

o"kZ lekIr

Year

end

ed

31.0

3.14

o"kZ lekIr

Year

end

ed

31.0

3.15

o"kZ lekIr

Year

end

ed

31.0

3.14

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

2332

3353

1993

8772

5816

772

210

1577

500

1252

151

4728

6449

4264

3335

xr

o"kZ dh lekfIr

ij fuoy

cdk;k

nkos

Net

Cla

ims

Out

stan

ding

Pre

viou

s Yea

r

100

00

061

6265

7658

6110

4065

422

7113

9

fuoy

mix

r nkos

Net

Cla

ims

Incu

rred

1207

847

1522

252

1381

530

928

2628

2612

2778

4086

238

6818

408

izR;{

kD

irect

2211

5606

1841

6519

4435

241

282

1930

939

1895

235

4424

0866

3809

6066

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

acc

epte

d

2851

673

2272

145

1141

021

1155

786

2571

119

2852

659

7392

1750

6861

3704

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

2121

593

574

9985

4310

8269

924

3454

825

7622

2

dqy m

ixr

nkos

TOTA

L CL

AIM

S IN

CURR

ED

1482

2814

2289

9445

6298

3377

5744

1872

3313

1295

9195

1070

3585

nkosn

kjksa dks pqdrk n

kos

Clai

ms

paid

to c

laim

ants

2703

466

2129

877

1970

5217

2983

2995

243

3212

045

6339

7102

6048

6341

Hkkjr

esa

In In

dia

2272

145

1964

203

1155

786

1177

228

2852

659

2505

289

6861

3704

6314

7535

Hkkjr

ls c

kgj

Out

side

Indi

a

2121

574

8743

1082

699

3351

3025

7622

281

3534

dqy p

qdrk n

kos

Tota

l Cla

ims

Paid

1422

8919

8225

9833

7797

9837

7233

1349

4129

1070

3585

9270

362

izR;{

kD

irect

2129

877

1765

999

1729

8320

6134

3212

045

2346

291

6048

6341

5469

0707

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

Acc

epte

d

2390

2880

2024

6714

4340

250

767

1295

960

1599

521

5259

4495

4810

9504

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

100

018

-816

953

2110

1513

430

8989

8140

3382

7



169

xr

o"kZ dh lekfIr

ij fuoy

cdk;k

nkos

Net

Cla

ims

Out

stan

ding

Pre

viou

s Yea

r

1213

786

1466

316

-250

0034

468

1139

3135

1962

6341

848

8251

631

fuoy

mix

r nkos

Net

Cla

ims

Incu

rred

2268

9195

1878

0398

6842

181

3017

1413

827

6098

947

1516

2843

8917

01

izR;{

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irect

2390

2880

2024

6714

4340

250

767

1295

960

1599

521

5259

4495

4810

9504

tksM+sa% Lo

hd`r

iquchZek

Add:

Rei

nsur

ance

acc

epte

d

100

018

-816

953

2110

1513

430

8989

8140

3382

7

?kVk,a% v

H;fiZr

iquchZek

Less

: Rei

nsur

ance

Ced

ed

1213

786

1466

316

-250

0034

468

1139

3135

1962

6341

848

8251

631

dqy m

ixr

nkos

TOTA

L CL

AIM

S IN

CURR

ED

2268

9195

1878

0398

6842

181

3017

1413

827

6098

947

1516

2843

8917

01

nkosn

kjksa dks pqdrk n

kos

Clai

ms

paid

to c

laim

ants

Hkkjr

esa

In In

dia

2210

2934

1840

3172

4422

841

258

1915

686

1918

675

4402

6374

3723

6305

Hkkjr

ls c

kgj

Out

side

Indi

a

1267

213

347

124

2413

378

-234

4121

2616

8597

61

dqy p

qdrk n

kos

Tota

l Cla

ims

Paid

2211

5606

1841

6519

4435

241

282

1929

064

1895

235

4423

8991

3809

6066


vuql

wph&

3

31.0

3.20

15 d

ks l

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mix

r d

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ku (fu

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le -3

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Mis

sio

n in

CURR

ed (n

et) F

oR

the

Yea

R en

ded

31.

03.2

015

(` in

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')

fooj

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rtic

ular

sv

fXu

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ejh

uM

aRi

ne

fofo

/kM

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neo

Us

dqy ;

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d t

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l

o"kZ

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rYe

ar

ende

d

o"kZ

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rYe

ar

ende

d

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r 3

1-03

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5Ye

ar e

nded

31.

03.2

015

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1-03

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4Ye

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nded

31.

03.2

014

o"kZ

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ende

d

o"kZ

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ar

ende

d

o"kZ

lekfI

rYe

ar

ende

d

o"kZ

lekfI

rYe

ar

ende

d31

.03.

2015

31.0

3.20

14M

arin

e Ca

rgo

Mar

ine h

ull

tota

lM

arin

e Ca

rgo

Mar

ine h

ull

tota

l31

.03.

2015

31.0

3.20

1431

.03.

2015

31.0

3.20

14

pqdrk d

eh'ku

Com

mis

sion

pai

d

izR;{

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irect

7305

44

7620

25

3192

25

2915

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1348

29

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3904

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3598

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3389

088

4677

349

4541

559

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add

: Re-

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2845

27

2611

53

5003

47

816

5281

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1 54

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5467

9 13

4280

54

6384

47

1626

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2216

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less

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7527

40

8169

43

4225

0 83

974

1262

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5883

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1409

1602

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7918

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8521

71

1670

806

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356

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mis

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2623

31

2062

35

2819

78

(700

1)27

4977

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3006

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8123

)28

4883

29

4086

1 30

8330

1 34

7816

9 35

7441

9



171

31-0

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Cell

an

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MM

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on

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RRed

(net

) Fo

R th

e Ye

aR

end

ed 3

1.03

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5(`

in '0

00')

fooj.

kPa

rtic

ular

s eksV

jM

oto

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31.03.2015 dks lekIr o"kZ ds fy, chek djksckj ls lacaf/kr izpkyfud [kpZsChedUle - 4

oPeRating eXPenses Related to insURanCe BUsiness FoR the YeaR ended 31.03.2015(` in '000')

Particulars o"kZ lekfIr 31-03-2015YeaR ended 31.03.2015

o"kZ lekfIr 31-03-2014YeaR ended 31.03.2014

jkf'kaMoUnt

jkf'kaMoUnt

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deZpkjh ikfjJfed vkSj dY;k.k ykHkEmployees remuneration & Welfare Benefits

19261243 13972919

;k=k] ifjogu vkSj okgu ifjpkyu [kpZTravel, Conveyance and Vehicle Running Expenses

383448 426516

izf'k{k.kTraining

50883 53819

fdjk;k] njsa vkSj djRent, Rates & Taxes

637807 630569

ejEerRepairs

119625 115017

eqnz.k vkSj ys[ku lkexzhPrinting & Stationery

176251 190875

lapkjCommunication

159902 183951

fof/kd vkSj O;kolkf;d [kpZLegal & Professional Expenses

55685 76181

ys[kkijh{kd 'kqYd] [kpsZ vkfnAuditors' fees, expenses etc.

¼d½ ys[kk ijh{kd ds :i esa(a) as auditor

38440 35694

¼d½ lykgdj ds :i esa ;k fdlh vU; {kerk esa] fuEu ds laca/k esa(b) as adviser or in any other capacity, in respect of

i) djk/kku ekeys i) taxation matters

0 0

ii) chek ekeysii) insurance matters

119 174

iii) izca/ku lsok,aiii) management services

159 27

¼x½ fdlh vU; {kerk esa(c) in any other capacity

466 78

foKkiu vkSj izpkjAdvertisement & Publicity

123885 68229

C;kt vkSj cSad izHkkjInterest & Bank Charges

17882 16226

vU;Others



181

Particulars o"kZ lekfIr 31-03-2015YeaR ended 31.03.2015

o"kZ lekfIr 31-03-2014YeaR ended 31.03.2014

jkf'kaMoUnt

jkf'kaMoUnt

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jkf'kaMoUnt

d½ fo|qr izHkkja) Electricity Charges

135387 129411

[k½ chek vkSj dEiuh vf/kfu;e vkfn ds v/khu 'kqYdb) Fee under Insurance & Company Act etc.

51863 90305

d½ ,yih, vfHknkuc) LPA Subscription

0 0

?k½ ikWfylh LVkEi [kpsZd) Policy Stamps Expenses

32105 30538

M+½ vU;e) Others

702719 922073 573133 823386

ewY; gzklDepreciation

187309 287581

lsok dj [kkrk #Service Tax A/c #

88493 101507

vkmVlksflZax@volajpuk [kpZOutsourcing/Infrastructure Expenses

1256095 771561

chek dkjksckj ls lacaf/kr dqy izpkyfud [kpZTOTAL OPERATING EXPENSES RELATING TO INSURANCE BUSINESS

23479765 823386 17754310

#vkbZvkjMh,vkbZ ds fnukad 05/10/2012 ds ekLVj ifji= la[;k vkbZvkjMh,vkbZ@,Q,aMvkbZ@lhvkbZvkj@,Q,aM,@231@10@2012 ds vuqlkj ,d ubZ iafDr l`ftr dh xbZ gSA# A new line item created as per IRDAI Master Circular No. IRDAI/F&I/CIR/F&A/231/10/2012 dt. 05/10/2012


vuqlwph &5

31-03-2015 dks 'ks;j iwathsChedUle - 5

shaRe CaPital as at 31.03.2015(` in '000')

sl.no. Particulars 31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.20141 izkf/kd`r iwath

authorised Capital#- 10 izR;sd ds 20,00,00,000 bfDoVh 'ks;j20,00,00,000 Equity Shares of Rs 10 each

2000000 2000000

2 tkjh iwathIssued Capital#- 10 izR;sd ds 20,00,00,000 bfDoVh 'ks;j 20,00,00,000 Equity Shares of Rs 10 each

2000000 1500000

3 vfHknRr iwathSubscribed Capital#- 10 izR;sd ds 20,00,00,000 bfDoVh 'ks;j20,00,00,000 Equity Shares of Rs 10 each

2000000 1500000

4 Called and Paid-up CapitalCalled and Paid-up Capital #- 10 izR;sd ds 20,00,00,000 bfDoVh 'ks;j20,00,00,000 Equity Shares of Rs 10 each

2000000 1500000

5 ?kVk,a% vnRr ekaxsaLess: Calls Unpaid

0 0

tksM+sa% tCr bfDoVh 'ks;j ¼ewy :i ls iznRr jkf'k½Add: equity shares Forfeited (amount originally Paid up)

0 0

?kVk,a% izkjafHkd O;;Less: Preliminary expenses

0 0

tksf[ke vadu ;k 'ks;jksa ds va'knku ij deh'ku ;k czksdjstExpenses including commision or brokerage on underwriting or subscription of sharesdqyTotal

2000000 1500000

fVIi.kh% foRr o"kZ 2014&15 dh nwljh frekgh ds nkSjku #- 10 izR;sd 5,00,00,000 cksul 'ks;j ftudk dqy ;ksx #- 50 djksM+ gS] lkekU; vkjf{kfr [kkrs esa ukes Mkydj 'ks;j/kkjd ¼Hkkjr ljdkj½ dks tkjh fd, x, gSaANote: During the second quarter of FY 2014-15, 5,00,00,000 bonus shares of Rs.10 each, aggregating Rs.50 crores, have been issued to the shareholder (Govt. of India) by debiting General Reserve Account.



183

vuqlwph &5,31-03-2015 dks 'ks;j/kkfjrk dk Lo:i

¼/ku }kjk ;Fkk izekf.kr½sChedUle - 5a

PatteRn oF shaReholding as at 31.03.2015[As certified by the Management]

(` in '000')

'ks;j/kkjdshareholder

31-03-2015 dksas at 31.03.2015

31-03-2014 dksas at 31.03.2014

number of shares % of holding number of shares % of holdingizeksVjPromotersHkkjrh;Indian

200000000 100% 150000000 100%

fons'khForeign

0 0 0 0

vU;Others

0 0 0 0

dqyTotal

200000000 100% 150000000 100%

fVIi.kh% foRr o"kZ 2014&15 dh nwljh frekgh ds nkSjku #- 10 izR;sd 5,00,00,000 cksul 'ks;j ftudk dqy ;ksx #- 50 djksM+ gS] lkekU; vkjf{kfr [kkrs esa ukes Mkydj 'ks;j/kkjd ¼Hkkjr ljdkj½ dks tkjh fd, x, gSaANote: During the second quarter of FY 2014-15, 5,00,00,000 bonus shares of Rs.10 each, aggregating Rs.50 crores, have been issued to the shareholder (Govt. of India) by debiting General Reserve Account.


vuqlwph&6% 31-03-2015 dks vkjf{kfr;ksa vkSj vf/k'ks"ksChedUle - 6: ReseRves and sURPlUs as at 31.03.2015

(` in '000')

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.20141 iwath vkjf{kr

Capital Reserve2565 2565

2 iwath 'kks/ku vkjf{krCapital Redemption Reserve

3 'ks;j iwathshare Premium

4 lkekU; vkjf{krGeneral Reserves

29815782 27714802

?kVk,a% ykHk gkfu [kkrs esa ukes 'ks"kLess: debit Balance in Profit & loss account?kVk,a% iqu% Ø; ds fy, iz;qDr jkf'kLess: amount Utilised for Buy-Backvkink vkjf{krCatastrophe Reserve

5 vlekIr tksf[keksa ds fy, vkdfLed vkjf{kfrContingency Reserve for Unexpired Risks

0 0

6 ykHk gkfu [kkrs esa ykHk dk 'ks"kBalance of Profit in Profit & Loss Account

0 0

7 dqyTotal

29818347 27717367

vuqlwph&7% 31-03-2015 dks m/kkjsChedUle - 7: BoRRoWings as at 31.03.2015

(` in '000')

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.20141 fMcsapj@ca/ki=

Debentures / Bonds0 0

2 cSadBanks

0 0

3 foRrh; laLFkk,aFinancial Institutions

0 0

4 vU; ¼fofufnZ"V fd;k tkuk gS½Others (to be specified)

0 0

dqyTotal

0 0



185

vuqlwph&831-03-2015 dks fuos'k

sChedUle - 8investMents as at 31.03.2015

(` in '000')

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014nh?kkZof/kd fuos'kLong Term Investments

1 ljdkjh izfrHkwfr;ka vkSj ljdkj }kjk xkjaVhd`r ckaM ftlesa jktdks"k fcy Hkh 'kkfey gSagovernment securities and government guaranteed Bonds including treasury Bills

42462962 39214858

2 vU; vuqeksfnr izfrHkwfr;kaother approved securitiesd½ ckaM@fMcsapj tgka C;kt dsanzh;@jkT; ljdkjksa }kjk

xkjaVhd`r gSa) Bonds/Debentures where interest is guaranteed

by Central/State Govt.

17951 233885

[k½ Hkkjr ljdkj ds ikl fo'ks"k tek jkf'k;kab) Special Deposits with Government of India.

0 0

3 vU; fuos'kother investmentsd½ 'ks;ja) Shares¼dd½ bfDoVh(aa) Equity

102912793 95232858

¼[k[k½ vf/kekU; 'ks;j(bb) Preference shares

74820 69323

[k½ E;qpqvy QaMb) Mutual Funds

0 0

x½ O;qRiUu fuos'kc) Derivative Instruments

0 0

?k½ fMcsapj@ckaMd) Debentures / Bonds

22895867 17375456

M+½ vU; izfrHkwfr;kae) Other Securities

0 0

p½ vuq"kaxh dEifu;kaf ) Subsidiaries

0 0

N½ fuos'k lEifRr;ka & jh;y ,LVsVg) Investment Properties - Real Estate

0 0


Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.20144 volajpuk vkSj lkekftd {ks= esa fuos'k

investment in infrastructure & social sectord½ ckaM@fMcsapj tgka C;kt xkjaVhd`r gS a) Bonds/Debentures where interest is guaranteed

0 0

[k½ ckaM@fMcsapj ¼vU;½b) Debentures / Bonds(others)

13172198 12760143

x½ bfDoVhc) Equity

14130483 11252584

5 vuqeksfnr fuos'kksa ds vfrfjDrother than approved investmentsd½ fMcsapja) Debentures

474869 758188

[k½ ckaM@fMcsapj tgka C;kt xkjaVhd`r gSb) Bonds/Debentures where interest is guaranteed

0 3980

x½ bfDoVhc) Equity

2069601 981263

?k½ vf/kekU; 'ks;jd) Preference Shares

23769 38353

M+½ E;qpqvy QaMe) Mutual Funds

0 0


500 500

N½ m|e iwath fuf/kg) Venture Capital Fund

675857 669514

vYikf/kd fuos'kShort Term Investments

1 ljdkjh izfrHkwfr;ka vkSj ljdkj }kjk xkjaVhd`r ckaM ftuesa jktdks"k fcy Hkh 'kkfey gSagovernment securities and government guaranteed Bonds including treasury Bills

2124101 1796167

2 vU; vuqeksfnr izfrHkwfr;kaother approved securitiesd½ ckaM@fMcsapj tgka C;kt xkjaVhd`r gSa) Bonds/Debentures where interest is guaranteed

19914 0


0 0

3 vU; fuos'kother investmentsd½ 'ks;ja) Shares



187

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014¼dd½ bfDoVh(aa) Equity

0 0


0 0


787135 1360192


0 0


2398206 5207117


0 0


0 0


0 0

4 volajpuk vkSj lkekftd {ks= esa fuos'kinvestment in infrastructure & social sectord½ ckaM@fMcsapj tgka C;kt xkjaVhd`r gS a) Bonds/Debentures where interest is guaranteed

0 0


2187590 615733


165000 100000


0 0

x½ bfDoVhc) Equity

0 0


626 514


0 0


0 0


0 0


Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014vYikf/kd fuos'kShort Term Investments

206594242 187670628

fuos'kInvestments

1 Hkkjr esain india

206461085 187537470

2 Hkkjr lss ckgjoutside india

133157 133158

dqyTotal

206594242 187670628

vuqlwph&8dfuos'k & 31-03-2015 dks ikWfylh/kkjdksa ds fuos'k

sChedUle - 8a investMents - PoliCYholdeRsinvestMents as at 31.03.2015

(` in '000')

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014nh?kkZof/kd fuos'klong term investments


33087140 30642490

2 vU; vuqeksfnr izfrHkwfr;kaother approved securitiesd½ ckaM@fMcsapj tgka C;kt dsanzh;@jkT; ljdkjksa }kjk xkjaVhd`r gSa) Bonds/Debentures where interest is guaranteed by

Central/State Govt.

13987 182758


0 0


80189648 74414955


58300 54169



189

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014[k½ E;qpqvy QaMb) Mutual Funds

0 0


0 0


17840460 13577181


0 0


0 0


0 0


0 0


10263777 9970776

x½ bfDoVhc) Equity

11010472 8792769


370018 592448


0 3110

x½ bfDoVhc) Equity

1612633 766759


18521 29969


0 0


390 391


526628 523158


Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014vYikf/kd fuos'kShort Term Investments

1 ljdkjh izfrHkwfr;ka vkSj ljdkj }kjk xkjaVhd`r ckaM ftuesa jktdks"k fcy Hkh 'kkfey gSagovernment securities and government guaranteed Bonds including treasury Bills

1655099 1403525

2 vU; vuqeksfnr izfrHkwfr;kaother approved securitiesd½ ckaM@fMcsapj tgka C;kt xkjaVhd`r gSa) Bonds/Debentures where interest is guaranteed

15517 0


0 0


0 0


0 0


613336 1062854


0 0


1868682 4068841


0 0


0 0


0


0 0


1704570 481134

5 vuqeksfnr fuos'kksa ds vfrfjDrother than approved investments



191

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014d½ fMcsapja) Debentures

128568 78140


0 0

x½ bfDoVhc) Equity

0 0


488 402


0 0


0 0


0 0

dqy fuos'ktotal investments

160978233 146645829

fuos'kInvestments

1 Hkkjr esaIn India

160874477 146541779

2 Hkkjr ls ckgjOutside India

103756 104050

dqytotal

160978233 146645829

Notes:i Aggregate amount of company's Investments

other than listed Equity Shares/Mutual Funds is Rs 680245.55/- lacs and Market Value thereof is Rs 676461.05/- lacs.

ii Provision of Rs.1260.99/- lacs against Investment in debenture is grouped under Provision for Bad & Doubtful Debts in Schedule 14.

iii Provision of Rs 1281.61/- lacs against Investment in debenture is grouped under Provisions on Standard Assets in Schedule 14.

iv Provision of Rs. nil/- lacs against Investment in debenture/bond where intt is guaranteed is grouped under Provision for Bad & Doubtful Debts in Schedule 14.

v Provision of Rs. 0.69/- lacs against Investment in debenture/bond where intt is guaranteed

fVIif.k;ka%i lwphc) bfDoVh 'ks;jksa@E;qpqvyQaMksa ds vfrfjDr

dEiuh ds fuos'k dh dqyjkf'k #- 680245-55@& yk[k gS vkSj rRlaca/kh cktkj ewY; #- 676461-05@& yk[k gSA

ii fMcsapjksa esa fuos'k ds lkis{k #- 1260-99@& yk[k ds izko/kku dks vuqlwph 14 esa v'kks/; ,oa lafnX/k _.kksa ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

iii fMcsapjksa esa fuos'k ds lkis{k #- 1281-61@& yk[k ds izko/kku dks vuqlwph 14 esa ekud ifjlEifRr;ksa ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

iv xkjaVhd`r C;kt okys fMcsapjksa esa fuos'k ds lkis{k #- 'kwU; yk[k ds izko/kku dks vuqlwph 14 esa v'kks/; ,oa lafnX/k _.kksa ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA


v xkjaVhd`r C;kt okys fMcsapjksa esa fuos'k ds lkis{k #- 0-69@& yk[k ds izko/kkudks vuqlwph 14 esa ekud ifjlEifRr;ksa ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

vi bfDoVh esa fuos'k ds lkis{k #- 476-56@& yk[k ds izko/kku dks vuqlwph 14 esa 'ks;jksa ds ewY;gzkl ds fy, izko/kku ds rgr lewgc) fd;k x; kgSA

vii m|e iwath esa fuos'k ds lkis{k #- 699-54@& yk[k ds izko/kku dks vuqlwph 14 esa 'ks;jksa ds ewY;gzkl ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

viii vu"kaxh dEifu;ksa esa fuos'k ds lkis{k #- 3-90@& yk[k ds izko/kkudksvuqlwph 14 esa 'ks;jksa ds ewY;gzkl ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

ix vf/kekU; 'ks;jksa esa fuos'k ds lkis{k #- 61-23@& yk[k ds izko/kku dks vuqlwph 14 esa 'ks;jksa ds ewY;gzkl ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

x viuh lg;ksxh dEifu;ksa uker% bafM;k baVjus'kuy ba';ksjsal ihVhbZ fyfeVsM vkSj gSYFk ba';ksjsal Vhih, vkWQ bafM;k esa dEiuhdk fuos'k Øe'k% #- 304-74 yk[k vkSj #- 370-12 yk[k gS vkSj bls nh?kkZof/kd fuos'k bfDoVh 'ks;jksa ds rgr lewgc) fd;k x;k gSA

grouped under Provision on Standard Assets in Schedule 14.

vi Provision of Rs.476.56/- lacs against investment in equity is grouped under Provision for Diminution in value of shares in Schedule 14.

vii Provision of Rs 699.54/- lacs against investment in Venture Capital is grouped under Provisions for Diminution in value of shares in Schedule 14.

viii Provision of Rs.3.90/- lacs against investment in subsidiaries is grouped under Provisions for Diminution in value of shares in Schedule 14.

ix Provision of Rs.61.23/- lacs against investment in Pref. Shares is grouped under Provisions for Diminution in value of shares in Schedule 14.

x Amount of company's Investment in Associate viz India International Insurance PTE Ltd is 304.74 lacs and Health Insurance TPA of india is 370.12 lacs and is grouped under Long Term Investments Shares - Equity



193

vuqlwph&8dfuos'k & 31-03-2015 dks ikWfylh/kkjdksa ds fuos'k

sChedUle - 8B investMents - shaReholdeRsinvestMents as at 31.03.2015

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014(Rs. '000) (Rs. '000)

nh?kkZof/kd fuos'klong term investments


9375822 8572368


Central/State Govt.

3964 51127


0 0


22723145 20817903


16520 15154


0 0


0 0


5055407 3798275


0 0


0 0


0 0


0 0


Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014[k½ ckaM@fMcsapj ¼vU;½b) Debentures / Bonds(others)

2908421 2789367

x½ bfDoVhc) Equity

3120011 2459815


104851 165740


0 870

x½ bfDoVhc) Equity

456968 214504


5248 8384


0 0


110 109


149229 146356



469002 392642


Central/State Govt.

4397 0


0 0


0 0


0 0



195

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014[k½ E;qpqvy QaMb) Mutual Funds

173799 297338


0 0


529524 1138276


0 0


0 0

N½ fuos'k lEifRr;ka – jh;y ,LVsVg) Investment Properties - Real Estate

0


0 0


483020 134599


36432 21860


0 0

x½ bfDoVhc) Equity

0 0


138 112


0 0


0 0


0 0

dqy fuos'ktotal investments

45616009 41024799

fuos'kInvestments

1 Hkkjr esaIn India

45586608 40995691


Notes:i Aggregate amount of company's Investments

other than listed Equity Shares/Mutual Funds is Rs 192759.52/- lacs and Market Value thereof is Rs 191687.11/- lacs.

ii Provision of Rs.357.32/- lacs against Investment in debenture is grouped under Provision for Bad & Doubtful Debts in Schedule 14.

iii Provision of Rs 363.17/- lacs against Investment in debenture is grouped under Provisions on Standard Assets in Schedule 14.

iv Provision of Rs. nil/- lacs against Investment in debenture/bond where intt is guaranteed is grouped under Provision for Bad & Doubtful Debts in Schedule 14.

v Provision of Rs. 0.19/- lacs against Investment in debenture/bond where intt is guaranteed grouped under Provision on Standard Assets in Schedule 14.

vi Provision of Rs.135.04/- lacs against investment in equity is grouped under Provision for Diminution in value of shares in Schedule 14.

vii Provision of Rs 198.23/- lacs against investment in Venture Capital is grouped under Provisions for Diminution in value of shares in Schedule 14.

viii Provision of Rs.1.10/- lacs against investment in subsidiaries is grouped under Provisions for Diminution in value of shares in Schedule 14.

ix Provision of Rs.17.35/- lacs against investment in Pref. Shares is grouped under Provisions for Diminution in value of shares in Schedule 14.

X Amount of company's Investment in Associate viz India International Insurance PTE Ltd is 86.36 lacs and Health Insurance TPA of india is 104.88 lacs and is grouped under Long Term Investments Shares - Equity

fVIif.k;ka%i lwphc) bfDoVh 'ks;jksa@E;qpqvy QaMksa ds vfrfjDr dEiuh

ds fuos'k dh dqy jkf'k #- 192759-52@& yk[k gS vkSj rRlaca/kh cktkj ewY; #- 191687-11@& yk[k gSA

ii fMcsapjksa esa fuos'k ds lkis{k #- 357-32@& yk[k ds izko/kku dks vuqlwph 14 esa v'kks/; ,oa lafnX/k _.kksa ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

iii fMcsapjksa esa fuos'k ds lkis{k #- 363-17@& yk[k ds izko/kku dks vuqlwph 14 esa ekud ifjlEifRr;ksa ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

iv xkjaVhdr C;kt okys fMcsapjksa esa fuos'k ds lkis{k #- 'kwU; yk[k ds izko/kku dks vuqlwph 14 esa v'kks/; ,oa lafnX/k _.kksa ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

v xkjaVhdr C;kt okys fMcsapjksa esa fuos'k ds lkis{k #- 0-19@& yk[k ds izko/kku dks vuqlwph 14 esa ekud ifjlEifRr;ksa ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

vi bfDoVh esa fuos'k ds lkis{k #- 135-04@& yk[k ds izko/kku dks vuqlwph 14 esa 'ks;jksa ds ewY;gzkl ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

vii m|e iwath esa fuos'k ds lkis{k #- 198-23@& yk[k ds izko/kku dks vuqlwph 14 esa 'ks;jksa ds ewY;gzkl ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

viii vuq"kaxh dEifu;ksa esa fuos'k ds lkis{k #- 1-10@& yk[k ds izko/kku dks vuqlwph 14 esa 'ks;jksa ds ewY;gzkl ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

ix vf/kekU; 'ks;jksa esa fuos'k ds lkis{k #- 17-35@& yk[k ds izko/kku dks vuqlwph 14 esa 'ks;jksa ds ewY;gzkl ds fy, izko/kku ds rgr lewgc) fd;k x;k gSA

x viuh lg;ksxh dEifu;ksa uker% bafM;k baVjus'kuy ba';ksjsal ihVhbZ fyfeVsM vkSj gSYFk ba';ksjsal Vhih, vkWQ bafM;k esa dEiuh dk fuos'k Øe'k% #- 86-36yk[k vkSj #- 104-88yk[k gS vkSj bls nh?kkZof/kd fuos'k bfDoVh 'ks;jksa ds rgr lewgc) fd;k x;k gSA

Ø- la-sl.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.20142 Hkkjr ls ckgj

Outside India29401 29108

dqytotal

45616009 41024799



197

vuqlwph&9 31-03-2015 dks _.k

sChedUle - 9loans as at 31.03.2015

(` in '000')fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014izfrHkwfr&okj oxhZdj.kSecurity-Wise ClassificationizR;kHkwrSecured¼d½ lEifRrca/kd j[kusij(a) On Mortgage of Property

(i) Hkkjresa(i) In India

0 0

(ii) Hkkjr ls ckgj(ii) Outside India

0 0

¼[k½ 'ks;jksa] ckaMksa] ljdkjhizfrHkwfr;ksaij(b) On Shares, Bonds, Government Securities

0 0

¼x½ vU; (i) deZpkfj;ksadksvkolh; _.k(c) Others (i) Housing Loans to Staff

1015448 927012

(ii) jkT; ljdkjksadksvkoklO;oLFkkvkSj ,Q,QbZ ds fy, lkof/k _.k vkSj _.k] jkT; ljdkjksa }kjkxkjaVhd`r

(ii) Term Loans and loans to state govts for housing & FFEs, guaranteed by State Govts.

816179 1051479

vizR;kHkwr ¼lkof/k _.k] varfje _.k] tekjkf'k izek.ki=] okf.kfT;dnLrkost½Unsecured (Term loans, Bridge loans, Certificateof deposit, Commercial paper )

64499 64499

dqytotal

1896127 2042990

m/kkjdrkZ&okjoxhZdj.kBorrower-Wise Classification¼d½ dsanzh; vkSj jkT; ljdkjsa(a) Central and State Governments

474906 566122

¼[k½ cSadvkSjfoRrh; laLFkku(b) Banks and Financial Institutions

0 0

¼x½ vuq"kaxhdEifu;ka(c) Subsidiaries

0 0

¼?k½ dEifu;ka(d) Companies

405772 425389

¼M+½ ikWfyfl;ksa ds lkis{k _.k(e) Loan against policies

0 0

¼p½ vU; (i) deZpkjh(f ) Others (i) Staff

1015448 1051479


fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014(ii) okf.kfT;enLrkost(ii) Commercial Papers

0 0

dqytotal

1896127 2042990

fu"iknu&okjoxhZdj.kPerformance-Wise Classification¼d½ ekud ds :iesaoxhZd`r _.k(a) Loans classified as standard¼d½ Hkkjresas(a) In India

1503685 1624344

¼[k½ Hkkjrlsckgj(b) Outside India

0 0

¼[k½ izko/kku ?kVkrsgq, xSj&fu"iknu _.k(b) Non-Performing loans less provisions ¼d½ Hkkjr esas(a) In India

90577 64930

¼[k½ Hkkjr ls ckgj(b) Outside India

0 0

izko/kkuProvision

301864 353716

dqytotal

1896127 2042990

ifjiDork&okj oxhZdj.kMaturity-Wise Classification¼d½ vYikof/kd(a) Short-Term

60013 68999

¼[k½ nh?kkZof/kd(b) Long-Term

1836113 1973991

dqytotal

1896127 2042990

Notes: 1. Provision for Rs.2373.64 Lacs against hypothecation

of assets is grouped under Provision for bad and doubtful debts in Schedule-14

2. Provision for Rs 644.99 Lacs against unsecured loans is grouped under Provision for bad and doubtful debts in Schedule-14

3. Provision for Rs 19.97 Lacs against standard assets is grouped under Provision on standard assets in Schedule-14

fVIif.k;ka%1- ifjlEifRr;ksa dks fxjoh j[kus ds lkis{k #- 2373-64

yk[k ds izko/kku dks vuqlwph-14 esa v'kks/; ,oa lafnX/k _.kksa ls lacaf/kr izko/kku ds rgr lewgc) fd;k x;kgSA

2- vizR;kHkwr _.kksa ds lkis{k #- 644-99 yk[k ds izko/kku dks vuqlwph-14 esa v'kks/; ,oa lafnX/k _.kksa ls lacaf/kr izko/kku ds rgr lewgc) fd;k x;k gSA

3- ekud ifjlEifRr;ksa ds lkis{k #- 19-97 yk[k ds izko/kkudks vuqlwph-14 esa v'kks/; ,oalafnX/k _.kksa ls lacaf/kr izko/kku ds rgr lewgc) fd;k x;k gSA



199

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136

1837

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112

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6701

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4069

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3663

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2423

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l41

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226

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201

vuqlwph &1131-03-2015 dks udn vkSj cSad 'ks"k

sChedUle - 11Cash & BanK BalanCes as at 31.03.2015


31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014udn ¼pSdksa] MzkQ~Vksa vkSj LVkEiksa lfgr½Cash (including cheques, drafts and stamps)

890850 1410117

cSad 'ks"kBank Balances¼d½ tek [kkrs(a) Deposit Accounts¼dd½ vYikof/kd ¼12 eghus ds Hkhrj ns;½(aa) Short-term (due within 12 months)

18061509 15566941

¼[k[k½ vU;(bb) others

0 0

¼[k½ pkyw [kkrs(b) Current Accounts

5317616 5292831

¼x½ vU;(c) Others

0 0

ekax vkSj vYikof/kd lwpuk ij /kujkf'kMoney at Call and short notice¼d½ cSadksa ds lkFk(a) With Banks

0 0

¼[k½ vU; laLFkkuksa ds lkFk(b) With other Institutions

0 0

vU;others

0 0

dqy TOTAL

24269975 22269889

mi;qZDr 2 vkSj 3 esa 'kkfey fd, x, xSj vuqlwfpr cSadksa esa 'ks"kBalance with non-scheduled banks included in 2 and 3 above

0 0

udn vkSj cSad 'ks"kCash & Bank BalancesHkkjr esain india

21898203 20194040

Hkkjr ls ckgjoutside india

2371772 2075849

dqyTOTAL

24269975 22269889


vuqlwph&1231-03-2015 dks vfxze vkSj vU; ifjlEifRr;ka

sChedUle - 12advanCes and otheR assets as at 31.03.2015


31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014vfxzeAdvancesvH;fiZr dEifu;ksa ds ikl tek jkf'k;kaReserve deposits with ceding companies

157625 190459

fuos'kksa ds fy, vkosnu jkf'kApplication money for investments

0 0

iwoZ&HkqxrkuPrepayments

42996 4365

funs'kdksa@vf/kdkfj;ksa dks vfxzeAdvances to Directors/Officers

467711 455867

pqdrk vfxze dj vkSj lzksr ij dj dh dVkZrh ¼djk/kku laca/kh izko/kku dks ?kVkrs gq,½@dj foHkkx ls olwyh ;ksX; jkf'kAdvance tax paid and taxes deducted at source, (Net of Provision for Taxation)/Amount Recoverable from Tax Deptt.

3057626 1849154

vU;Others

209055 149068

dqy ¼d½Total (A)

3935013 2648913

fuos'kksa ij mifpr vk;Income accrued on investments

3829027 3344607

cdk;k izhfe;eOutstanding Premiums

568087 1152690

,tsVksa ds 'ks"kAgents' Balances

0 0

fons'kh ,tsafl;ksa ds 'ks"kForeign Agencies' Balances

153588 138898

chek dkjksckj djus okys vU; fudk;ksa ¼iquchZekdrkZvksa lfgr½ ls ns;Due from other entities carrying on insurance business (including reinsurers)

15451938 14106902

vuq"kaxh dEifu;ksa@/kkjd dEiuh ls ns;Due from subsidiaries/holding company

583 544

Hkkjrh; fjtoZ cSad esa tek jkf'k] [chek vf/kfu;e] 1938 dh /kkjk 7 ds vuqlj.k esa]*Deposit with Reserve Bank of India, [Pursuant to section 7 of Insurance Act, 1938]*

171107 171192

vU; #Others #

4398660 4231204



203

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014dqy ¼[k½Total (B)

24572990 23146037

dqy ¼d + [k½Total (A + B)

28508003 25794950

* chek vf/kfu;e, 1938 dh /kkjk 7 vuqlkj dsnzh; ljdkj dh 6-01% izfrHkwfr 2028 ,pMh,Qlh cSad esa tek gSaA # vU; esa ^lsok dj viz;qDr ØsfMV* 'kkfey gS* 6.01% Central Government Security 2028 deposited with HDFC Bank in accordance with Sec. 7 of Insurance Act, 1938.# Others include "Service Tax Unutilized Credit"

vuqlwph &13% 31-03-2015 dks pkyw ns;rk,asChedUle - 13: CURRent liaBilities as at 31.03.2015

(` in lacs)fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014(Rs. '000) (Rs. '000)

,tsVksa ds 'ks"k ¼fuoy½Agents Balances (Net)

362390 319251

vU; chek dEifu;ksa dks ns; 'ks"kBalances due to other insurance companies

205343 79321

vH;fiZr iquchZek ij /kkfjr tek jkf'k;kaDeposits held on reinsurance ceded

1155668 460846

vfxze :i ls izkIr izhfe;ePremium received in advance

1612940 831667

vukoafVr izhfe;eUnallocated Premium

0 0

NksVs ysunkjSundry Creditors

11095926 8256464

vuq"kaxh dEifu;ksa@/kkjd dEiuh dks ns;Due to subsidiaries/holding company

0 0

cdk;k nkosClaims Outstanding

72646137 70829480

vf/kdkfj;ksa@funs'kdksa dks ns;Due to Officers / Directors

0 0

ikWfylh/kkjdksa dks ns;Due to Policy Holders

496969 471962

ubZ isa'ku ;kstuk ij ns;rkLiability on New Pension Scheme

320050 202615

vU;Others

224173 76712

dqyTotal

88119596 81528318


vuqlwph&14

31-03-2015 dks izko/kkusChedUle - 14

PRovisions as at 31.03.2015(` in '000')

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.2014vlekIr tksf[ke ds fy, vkjf{kfrReserve for Unexpired Risk

32751739 32279521

djk/kku ds fy, ¼pqdrk vfxze dj vkSj lzksr ij dj dks ?kVkrs gq,½For taxation (less advance tax paid and tax deducted at source)

0 0

izLrkfor ykHkka'kksa ds fy,For proposed dividends

1100000 1080000

ykHkka'k forj.k dj ds fy,For dividend distribution tax

219982 183546

vU;Others ¼d½ NqV~Vh udnhdj.k@,yVhlh@chekjh vodk'k gsrq izko/kku(a) Provision for Leave Encashment/ LTS/Sick Leave

5375075 4893859

¼[k½ ifjyfC/k la'kks/ku ds fy, izko/kku(b) Provision for Wage revision

3814306 1464306

¼x½ v'kks/; vkSj lafnX/k _.kksa ds fy, izko/kku(c) Provision for Bad & Doubtful Debts

2032364 2693115

¼?k½ ekud ifjlEifRr;ksa ds fy, izko/kku(d) Provision for Standard Assets

166561 149632

¼M+½ 'ks;jksa ds ewY; esa gzkl ds fy, izko/kku(e) Provision for Diminution in Value of Shares

159294 182388

¼p½ C;kt mpar(f ) Interest Suspense

0 4406

izhfe;e esa deh ds fy, vkjf{kfrReserve for Premium Deficiency

0 0

dqyTotal

45619321 42930773



205

vuqlwph&1531-03-2015 dks fofo/k O;;

¼ftUgas cV~Vs [kkrs ugha Mkyk x;k ;k lek;ksftr ugha fd;k x;k gS½sChedUle - 15

MisCellaneoUs eXPenditURe as at 31.03.2015(TO THE EXTENT NOT WRITTEN OFF OR ADJUSTED)

(` in '000')

Ø- la-s.no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.20141 'ks;jksa@fMcsapjksa dks tkjh djus esa vuqeRr NwV

Discount Allowed in issue of shares/debentures0 0

2 vU;Othersd½ minku dk ifj'kks/kua) Amortisation of Gratuity

0 297135

dqyTotal

0 297135


a. signiFiCant aCCoUnting PoliCies1. accounting Convention:

The Balance Sheet, the Profit and Loss Account and the Revenue Accounts are drawn up in accordance with the provisions of Section 11(1) of the Insurance Act, 1938 read with the provisions of sub-sections (1) and (1)(a) of the Section 129 of the Companies Act, 2013, and as per the provisions of Insurance Regulatory and Development Authority Act, 1999. The said statements are prepared on historical cost convention as a going concern and on accrual basis of accounting. They comply with the accounting standards referred to in section 133 of The Companies Act, 2013 and The Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002 and Master Circular 2012 issued by IRDAI, to the extent applicable and conform to practices prevailing in the General Insurance Industry in India except as otherwise stated.

2. shareholders’ and Policyholders’ Fund: The Shareholders’ Fund comprises of Share Capital, General Reserve and Capital Reserve. The Policyholders’ Fund comprises of Technical Reserves and Provision for Outstanding Claims.

3. Foreign Currency transactions / Conversion:3.1 As per Accounting Standard 11 “the

effects of changes in foreign exchange rates (revised 2003), Foreign branches/agencies are classified as “Integral Foreign Operations”.

3.2 Value of fixed assets and investments acquired in foreign currencies, is converted/ translated at the exchange rates on the date of acquisition.

3.3 Value of all other assets and liabilities

the oRiental insURanCe CoMPanY liMitedanneXURe-i aCCoUnting PoliCies and notes

vuqca/k-i ys[kkdj.k uhfr;ka vkSj fVIif.k;ka

d- egRoiw.kZ ys[kkdj.k uhfr;ka1- ys[kkdj.k vfHkle;% rqyu i=] ykHk gkfu ys[kk vkSj jktLo ys[ks

dEiuh vf/kfu;e] 2013 dh /kkjk 129 dh mi /kkjkvksa ¼1½ vkSj ¼1½¼d½ ds izko/kkuksa ds lkFk ifBr chek vf/kfu;e] 1938 dh /kkjk 11¼1½ ds izko/kkuksa ds vuqlkj] vkSj chek fofu;ked ,oa fodkl izkf/kdj.k vf/kfu;e] 1999 ds izko/kkuksa ds vuqlkj rS;kj fd, x, gSaA mDr foojf.kdk,a ,d lquke izfr"Bku ds :i esa ,sfrgkfld ykxr vfHkle; ij vkSj ys[kkdj.k ij mipf;d vk/kkj ij rS;kj dh xbZ gSaA bl dEiuh vf/kfu;e] 2013 dh /kkjk 133 vkSj chek fofu;ked ,oa fodkl izkf/kdj.k ¼foRrh; foojf.kdkvksa vkSj chek dEifu;ksa ds ys[kk ijh{kdksa ds izfrosnu dh rS;kjh½ fofu;e] 2002 vkSj vkbZvkjMh,vkbZ }kjk tkjh ekLVj ifji= esa lanfHkZr ys[kkdj.k ekudksa dk] Hkkjr esa lkekU; chek m|ksx esa izpfyr ifjikfV;ksa ds vuq:i vkSj iz;ksT; lhek rd] vU;Fkk vU;= fd, x, mYys[k dks NksM+dj] vuqikyu djrh gSaA

2- 'ks;j/kkjdksa vkSj ikWfylh/kkjdksa dh fuf/k;ka% 'ks;j/kkjdksa dh fuf/k esa 'ks;j iwath] lkekU; vkjf{kfr

vkSj iwath vkjf{kfr lfEefyr gSaA ikWfylh/kkjdksa dh fuf/k esa rduhdh vkjf{kfr;ka vkSj cdk;k nkoksa ds fy, izko/kku 'kkfey gSA

3- fons'kh eqnzk laO;ogkj@ifjorZu%3-1 ys[kkdj.k ekud 11 fons'kh eqnzk njksa esa

ifjorZuksa ds izHkko ¼la'kksf/kr 2003½ ds vuqlkj] fons'kh 'kk[kkvksa@,tsafl;ksa dks ^,dhd`r fons'kh izpkyuksa^^ ds :i esa oxhZd`r fd;k x;k gSA

3-2 fons'kh eqnzkvksa esa vftZr fuos'kksa vkSj LFkk;h ifjlEifRr;ksa ds ewY; dks vtZu dh rkjh[k dks eqnzk njksa ij ifjofrZr@LFkkukarfjr fd;k tkrk gSA

3-3 fons'kh eqnzkvksa O;Dr nsunkfj;ksa vkSj vU; lHkh ifjlEifRr;ksa ds ewY; dks o"kZ ds var esa Ø; cksyh nj ij ifjofrZr@LFkkukarfjr fd;k



207

expressed in foreign currencies, is converted/translated at the year-end closing purchase bid rate.

3.4 Items of income and expenditure of foreign branches and agencies expressed in foreign currencies are converted/ translated at the mean exchange rate of four quarterly rates during the financial year, which are the average of daily closing purchase bid rates.

3.5 Revenue transactions relating to reinsurance business and investments are converted/ translated at the average exchange rate of daily closing purchase bid rates for all the trading days in that particular quarter of the financial year.

3.6 Exchange Gain/Loss on conversion of foreign currency transactions is recognized as income/expense.

4. Revenue Recognition:

4.1 Premiums are recorded, net of reinsurances, based on assumption of risks in each related Revenue account. Reserve for Unexpired Risks is based on a percentage thereof, being 50 % in case of Fire, Marine Cargo and Miscellaneous business and 100% in case of Marine Hull business.

4.2 The reinsurance returns from Foreign Insurance companies to the extent received upto 31st March (subject to Accounting Policy 5.1a(ii) in respect of Estimated liability for outstanding claims) and returns from Indian Insurers and Government Bodies received upto finalisation of accounts of the relevant accounting year are incorporated in the accounts of the year. Reinsurance cessions are made on the basis of advices/returns as received from the Operating Offices. Wherever full particulars are not available, reinsurance acceptances/ cessions are made on estimates based

tkrk gSA

3-4 fons'kh eqnzkvksa esa O;Dr fons'kh 'kk[kkvksa vkSj ,tsafl;ksa dh vk; vkSj O;; enksa dks foRr o"kZ ds nkSjku pkj frekgh njksa ds vkSlr fofue; nj ij ifjofrZr@LFkkukarfjr fd;k tkrk gS] tks nSfud lekfIr [kjhn cksyh njksa dh vkSlr nj gSaA

3-5 iquchZek dkjksckj vkSj fuos'kksa ls lacaf/kr jktLo laO;ogkjksa dks foRr o"kZ dh ml frekgh fo'ks"k esa lHkh dkjksckjh fnuksa ds fy, nSfud lekfIr [kjhn cksyh njksa dh vkSlr nj ij ifjofrZr@LFkkukarfjr fd;k tkrk gSA

3-6 fons'kh eqnzk laO;ogkjksa ds ifjorZu ij fofue; ykHk@gkfu dks vk;@O;; ds :i esa Lohd`r fd;k tkrk gSA

4- jktLo Lohd`fr%

4-1 iquchZek ds fuoy izhfe;eksa dks] izR;sd lacaf/kr jktLo ys[ks esa tksf[keksa dh vo/kkj.kk ds vk/kkj ij vfHkys[kc) fd;k tkrk gSA vlekIr tksf[keksa ds fy, vkjf{kfr mlds izfr'kr ij vk/kkfjr gS] tks vfXu] ejhu dkxksZ vkSj fofo/k dkjksckj ds ekeys esa 50% vkSj ejhu gy dkjksckj ds ekeys esa 100% gSA

4-2 31 ekpZ rd izkIr lhek rd chek dEifu;ksa ls izkIr iquchZek foojf.k;ksa ¼cdk;k nkoksa ds fy, vuqekfur nsunkjh ds laca/k esa ys[kkdj.k uhfr 5-1d¼ii½ ds v/;/khu½ vkSj lacaf/kr ys[kkdj.k o"kZ ds ys[kksa dks vafre :i fn, tkus rd izkIr ljdkjh fudk;ksa vkSj Hkkjrh; chekdrkZvksa ls izkIr foojf.k;ksa dks o"kZ ds ys[kksa esa lekfo"V fd;k tkrk gSA iquchZek ?kVko izpkyfud dk;kZy;ksa ls izkIr fd, vuqlkj ijke'[email protected];ksa ds vk/kkj ij fd, tkrs gSaA tgka dgha iw.kZ C;kSjk miyC/k ugha gksrk] iquchZek Lohd`fr;ka@?kVko miyC/k lwpuk ij vk/kkfjr vuqekuksa ij fd, tkrs gSaA

4-3 ykHkka'k dks ?kks"k.kk ds o"kZ esa vk; ds :i esa ys[kkafdr fd;k tkrk gSA ykHkka'k@'ks;jksa


on available information.

4.3 Dividend is accounted for as income in the year of declaration. Dividend/interest on shares/ debentures under objection/ pending delivery is accounted for on realization. Interim dividend is accounted where the warrants are dated 31st March or earlier.

4.4 Profit/Loss on sale/redemption of investments is computed by taking the average cost as at the close of the preceding day of sale/redemption.

4.5 Profit/loss on sale/redemption of investments, provisions for non performing assets, provision for diminution in value of shares, amortization of premium on debt securities and income by way of Interest, Dividend and Rent are allocated between Revenue accounts and Profit & Loss account on the basis of Policyholders’ Fund and Shareholders’ Fund as at the beginning of the year.

4.6 Interest income in respect of loans, bonds and debentures is recognized as per the prudential norms for income recognition, asset classification and provisioning issued by IRDAI vide circular no. 32/2/F&A/circular/169/Jan/2006-07 dated 24th January 2007.

4.7The acquisition cost relating to acquisition of new/renewal of insurance contracts is charged in the year in which they are incurred.

5. outstanding Claims:

5.1. a Estimated liability for outstanding claims at the year end are based on survey reports, information provided by clients, advices of Leaders and other sources upto the date of finalization, past experience and other applicable laws. The estimates are continually reviewed

ij C;kt@vkifRr ds v/khu fMcsapjksa@yafcr fMyhojh dks mxkgs tkus ij ys[kkafdr fd;k tkrk gSA varfje ykHkka'k dks ogka ys[kkafdr fd;k tkrk gS tgka vuqKk&i= fnukad 31 ekpZ ;k blls igys ds gksrs gSaA

4-4 fuos'kkssa dh fcØh@'kks/ku ij ykHk@gkfu dh x.kuk fcØh@'kks/ku ls igys ds fnu dh lekfIr ij vkSlr ykxr dks ysrs gq, dh tkrh gSA

4-5 fuos'kkssa dh fcØh@'kks/ku ij ykHk@gkfu] fuf"Ø; ifjlEifRr;ksa ds fy, izko/kku] 'ks;jksa ds ewY; esa deh ds fy, izko/kku] _.k izfrHkwfr;ksa dk _.k'kks/ku vkSj C;kt ds tfj, vk;] ykHkka'k vkSj fdjk, dks o"kZ ds 'kq#vkr ds vuqlkj ikWfylh/kkjdksa dh fuf/k vkSj 'ks;j/kkjdksa dh fuf/k ds vk/kkj ij jktLo ys[kksa vkSj ykHk gkfu ys[ks ds chp vkoafVr fd;k tkrk gSA

4-6 _.kksa] ca/ki=ksa vkSj fMcsapjksa ds laca/k esa C;kt dh vk; dks vkbZvkjMh,vkbZ }kjk fnukad tkjh 24 tuojh 2007 ds ifji= la[;k 32@2@,Q,aM,@ifji=@169@tu- 2006&07 }kjk fd, x, vk; Lohd`fr] ifjlEifRr oxhZdj.k vkSj izko/kku izfØ;k ds fy, foosdiw.kZ ekunaMksa ds vuqlkj Lohd`r fd;k tkrk gSA

4-7 chek lafonkvksa ds uohdj.k@ubZ lafonkvksa ds vtZu ls lacaf/kr vtZu vk; dks ml o"kZ esa izHkkfjr fd;k tkrk gS ftlesaa ;s mixr gqbZ gksaA

5- cdk;k nkos%5-1-d o"kZ esa cdk;k nkoksa ds fy, vuqekfur

nsunkjh] vafre :i fn, tkus dh rkjh[k rd izkIr losZ fjiksVksZa] xzkgdksa }kjk eqgS;k djkbZ xbZ lwpuk] yhMjksa dh lykgksa vkSj vU; lzksrksa] xr vuqHko vkSj vU; iz;ksT; fof/k;ksa ij vk/kkfjr gksrh gSaA izkDdyuksa dh fujarj leh{kk dh tkrh gS vkSj rnuqlkj izko/kku fd, tkrs gSaA rFkkfi] vafre



209

and provisions made accordingly. However, the final liability may be in excess of, or less than, the amount provided, for which any adjustments will be reflected in the periods in which they become known. Estimated liability for outstanding claims include:

(i) In respect of direct business, claims intimations received up to the year end.

(ii) In respect of reinsurance acceptances, advices received as of different dates of subsequent year upto the date of finalization of accounts and on estimation basis wherever advices are not received.

5.1. b Provision for outstanding Motor TP claims is made at the Operating Offices on a case-to-case basis. Trends in actual settlement are also considered and based on Actuarial Certification, consequent shortfall, if any, is provided at Head Office.

5.1. c In respect of Motor Third Party claims where court summons have been served on the company without adequate policy particulars to establish liability of the company, provision is made as under:

i) 100% of estimated liability where such claims are outstanding for more than 1 year

ii) 1/3rd of the estimated liability for all such claims where court summons have been served in the company during the year.

5.1. d Provisions for claims incurred but not reported (IBNR) and provisions for claims incurred but not enough reported (IBNER) are made as per actuarial valuation.

nsunkjh] izko/kku dh xbZ jkf'k ls vf/kd ;k de gks ldrh gS] ftlds fy, fd, x, fdlh Hkh lek;kstu dks mu vof/k;ksa esa ifjyf{kr fd;k tk,xk ftleas os Kkr gqbZ gksaA cdk;k nkoksa ds fy, vuqekfur nsunkjh esa 'kkfey gSa%

(i) izR;{k dkjksckj ds laca/k esa] o"kZ ds var rd izkIr nkoksa dh lwpuk,a

(ii) iquchZek Lohd`fr;ksa ds laca/k esa] ys[kksa dks vafre :i fn, tkus dh rkjh[k rd vuqorhZ o"kZ dh fofHkUu rkjh[kksa dks izkIr ijke'kZ ds vk/kkj ij] vkSj tgka ijke'kZ izkIr u gq, gksa] ogka vuqekfur vk/kkj ijA

5-1-[k eksVj Vhih nkoksa ds cdk;k nkoksa ds fy, izko/kku ekeyk&nj&ekeyk vk/kkj ij fd;k tkrk gSA okLrfod lek'kks/kuksa esa izo`fRr;ksa ij Hkh fopkj fd;k tkrk gS vkSj chekafdd ds izek.khdj.k ds vk/kkj ij] ifj.kkeh deh] ;fn dksbZ gks] ds fy, eq[;ky; esaa izko/kku fd;k tkrk gSA

5-1-x eksVj r`rh; i{k nkoksa ds laca/k eass tgka dEiuh dh nsunkjh LFkkfir djus ds fy, ikWfylh fooj.kksa ds fcuk U;k;ky; ds lEeu ns fn, tkrs gSa] ,sls ekeyksa esa fuEukuqlkj izko/kku fd;k tkrk gS%

i) tgka ,sls nkos 1 o"kZ ls vf/kd le; ls cdk;k gksa] ogka vuqekfur nsunkjh dk 100%

ii) tgka o"kZ ds nkSjku U;;k;ky; ds lEeu dEiuh esa ns fn, tkrs gSa] vuqekfurn nsunkjh dk 1@3 Hkkx

5-1-?k mixr exj lwfpr u fd, x, nkoksa ¼vkbZch,uvkj½ ds fy, izko/kku vkSj mixr exj i;kZIr :i ls lwfpr u fd, x, nkoksa ¼vkbZch,ubZvkj½ ds fy, izko/kku chekafdd ds ewY;kadu ds vuqlkj fd, tkrs gSa A

5-1-M+ dEiuh }kjk ifjR;kxs x, fdarq nkosnkjksa }kjk U;k;ky;ksa@yksdiky@ek/;LFk vkfn


5.1. e Provisions for claims repudiated by the company but contested by the claimants in courts/ombudsman/ arbitration etc. have been made where the management is of the opinion that the awards are likely to go against the company.

6. salvage and claim Recoveries

Disposal of salvage / recoveries under claims, are accounted for on realization and credited to claims.

7. expenses of Management-apportionment:

Expenses of Management other than policy stamps are apportioned to the Revenue Accounts on the basis of the gross direct premium plus reinsurance premium accepted giving weightage of 100% each for Fire and Miscellaneous business and 75% for Marine business. Expenses relating to Policy Stamps are directly taken to respective Revenue Accounts. Expenses relating to investments such as, safe custody, bank charges on collection of interest and dividend etc. are apportioned between Revenue Accounts and Profit and Loss Account on the basis of Policy Holders’ Fund and Shareholders’ Fund as at the beginning of the year.

8. Fixed assets:

8.1 House Properties (inclusive of cost of shares in Co-operative societies for property rights acquired) are included under the head "Leasehold property/Freehold Buildings".

8.2 Fixed assets are valued at cost less depreciation. Cost includes cost of acquisition and other direct expenditure incurred for acquisition of assets.

8.3 Assets acquired but not put to use are classified under “Capital Work in Progress”.

9. depreciation/amortization on Fixed

ds le{k ifjokfnr nkoksa ds fy, izko/kku mu ekeyksa esa fd, x, gSa ftueas izca/ku dk er gks fd QSlys dEiuh ds fo#) tkus dh laHkkouk gSA

6- izfrQy@nkok olwfy;ka

nkokxr izfrQy@olwfy;ksa ds fuiVku dks mxkgh gksus ij ys[ks esa Mkyk tkrk gS vkSj nkoksa ds ukes Mky fn;k tkrk gSA

7- izca/ku ds [kpsZ & izHkktu%

ikWfylh LVkEiksa ls vU; izca/ku ds [kpksZa dks] vfXu vkSj fofo/k dkjksckj nksuksa esa ls izR;sd dks 100% vkSj ejhu dkjksckj dks 75% Hkkfjrk nsrs gq,] ldy izR;{k izhfe;e tek Lohd`r iquchZek izhfe;e ds vk/kkj ij jktLo ys[kksa esa izHkkftr fd;k tkrk gSA ikWfylh LVkEiksa ls lacaf/kr [kpksZa dks lh/ks lacaf/kr jktLo [kkrksa esa ys tk;k tkrk gSA fuos'kksa ;Fkk lqjf{kr dLVMh] C;kt vkSj ykHkka'k vkfn ds ,dr=.k ij cSad izHkkjksa ls lacaf/k [kpksZa dks o"kZ dh 'kq#vkr esa ikWfylh/kkjdksa dh fuf/k vkSj 'ks;j/kkjdksa dh fuf/k ds vk/kkj ij jktLo ys[kksa vkSj ykHk gkfu ys[ks ds chp izHkkftr fd;k tkrk gSA

8- LFkk;h ifjlEifRr;ka%

8-1 Hkou lEifRr;ksa ¼vftZr lEifRr vf/kdkjksa ds fy, dksvkWijsfVo lkslk;fV;ksa esa 'ks;jksa dh ykxr lfgr½ dks ^îV~Vk/kkfjr [email protected] okys Hkou^^ 'kh"kZ ds v/khu 'kkfey fd;k tkrk gSA

8-2 LFkk;h ifjlEifRr;ksa dk ewY;kadu ykxr esa ls ewY;gzkl ?kVkdj fd;k tkrk gSA ykxr esa vtZu dh ykxr vkSj ifjlEifRr;ksa ds vtZu ds fy, fd, x, vU; izR;{k O;; dks 'kkfey fd;k tkrk gSA

8-3 vftZr fdarq iz;ksx esa u ykbZZ xbZ ifjlEifRr dks ^^py jgs iwathxr dk;Z^^ ds v/khu izekf.kr fd;k tkrk gSA

9- fu;r ifjlEifRr;ksa@vewrZ ifjlEifRr;ksa ij ewY;gzkl@_.k'kks/ku%



211

assets/intangible assets:

9.1 Depreciation is provided on the basis of useful life as prescribed in Schedule II under section 123 of The Companies Act, 2013.The carrying cost of existing assets on 01.04.2014 and of subsequent purchases thereafter is depreciated over the useful life of the assets leaving a residual value by Straight Line method as per The Companies Act 2013.

9.2 Intangible Assets are accounted for at their cost of acquisition and amortized over the estimated useful life of 3 financial years in accordance with The Companies Act, 2013 with reference to AS 26.

9a. 1 Where the Company is the lessee:

Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased term, are classified as operating leases. Operating lease payments are recognized as an expense in the Profit & Loss Account on a straight line basis over the lease term.

9a.2 Where the Company is the lessor:

Assets subject to operating leases are included in fixed assets. Lease income is recognized in the P & L Account as per the terms specified in the agreement. Costs, including depreciation are recognized as an expense in the Profit & Loss Account.

10. investments:

10.1 The cost includes premium on acquisition, expenses like brokerage, transfer stamps, transfer charges etc., and is net of incentive/fee, if any, received thereon.

10.2 Short Term Money Market instruments such as certificates of

9-1 ewY;gzkl dk izko/kku dEiuh vf/kfu;e, 2013 dh /kkjk 123 ds varxZr vuqlwph II esa ;Fkk fu/kkZfjr mi;ksxh thou ds vk/kkj ij fd;k tkrk gSA fnukad dks ekStwnk ifjlEifRr;ksa dh ogu ykxr vkSj blds ckn vuqorhZ Ø;ksa dh ykxr dk ewY;g`kl ifjlEifRr;ksa ds mi;ksxh thoudky ij fd;k tkrk gS ftlesa dEiuh vf/kfu;e 2013 ds vuqlkj ljy js[kk i)fr }kjk vof'k"V ewY; dks NksM+ fn;k tkrk gSA

9-2 vewrZ ifjlEifRr;ksa dks muds vtZu dh ykxr ij ys[kkafdr fd;k tkrk gS vkSj ys[kkdj.k ekud ,,l 26 ds lanHkZ lfgr dEiuh vf/kfu;e] 2013 ds vuqlkj 3 foRr o"kksZa ds vuqekfur mi;ksxh thoudky ij ifj'kksf/kr fd;k tkrk gSA

9d- 1 tgka dEiuh iV~Vk/kkjh gks%

os iV~Vs tgk¡ iV~Vk/kkjh izHkkoh :i ls iV~Vs dh 'krZ ij LokfeRo ds lHkh tksf[keksa vkSj ykHkksa dks mYys[kuh; :i ls /kkfjr djrk gS] izpkyfud iV~Vksa ds :i esa oxhZd`r fd, tkrs gSaA izpkyfud iV~Vk Hkqxrkuksa dks iV~Vs dh vof/k ds nkSjku ljy js[kk vk/kkj ij ykHk gkfu ys[ks esa [kpZ ds :i esa Lohd`r fd;k tkrk gSA

9d- 2 tgka dEiuh iV~Vkdkj gks%

izpkyfud iV~Vksa ds v/;/khu ifjlEifRr;ksa dks LFkk;h ifjlEifRr;ksa esa 'kkfey fd;k tkrk gSA iV~Vk vk; dks djkj esa fofufnZ"V 'krksZa ds vuqlkj ykHk gkfu ys[ks esa Lohd`r fd;k tkrk gSA ewY;g`kl lfgr ykxrksa dks ykHk gkfu ys[kks esa [kpZ ds :i esa Lohd`r fd;k tkrk gSA

10- fuos'k%

10-1 ykxr esa vtZu ij izhfe;e] nykyh tSls [kpsZ] varj.k LVkEisa] varj.k izHkkj vkfn 'kkfey gksrs gSa] vkSj ;g bu ij izkIr izksRlkgu jkf'k@'kqYd] ;fn dksbZ gks] ls fuoy gksrh gSA


deposit and commercial papers, which are discounted at the time of contract at the agreed rates, are accounted at the discounted value.

10.3 Investments in debt securities including Government securities and redeemable preference shares are considered as “held to maturity” and are valued at cost and the premium paid on securities is amortized over the residual period of maturity.

10.4 Investment Portfolio in respect of Equity Shares is segregated into actively traded, thinly traded and unlisted.

10.4.1 Actively traded equity shares in India, are valued at the last quoted closing price at NSE in the month of March which is selected as the Primary Exchange and in case such security is not listed/not traded on the Primary Exchange, the same will be valued at the last quoted closing price at BSE in the month of March which is selected as the Secondary Exchange. The unrealized gain/losses are accounted in Fair Value Change Account.”

10.4.2 Investment in thinly traded/unlisted equity shares including held in Companies incorporated outside India are valued at cost. However, provision is made for diminution in value of such investments when the break-up value falls below the cost. In case the break-up value is negative, provision is made for an amount equivalent to the book value.

10.5 In case of Preference Shares, where redemption proceeds are due for

10-2 tek jkf'k ds izek.ki=ksa vkSj okf.kfT;d nLrkostksa tSls vYikof/kd jkf'k cktkj foys[k] ftu ij lafonk ds le; lger njksa ij NwV nh tkrh gS] dks NwVizkIr ewY; ij ys[kkafdr fd;k tkrk gSA

10-3 ljdkjh izfrHkwfr;ksa vkSj izfrns; vf/kekU; 'ks;jksa lfgr _.k izfrHkwfr;ksa esa fuos'k dks ^îfjiDork ij /kkfj^^ ekuk tkrk gS vkSj bldk ewY;kadu ykxr ij fd;k tkrk gS vkSj izfrHkwfr;ksa ij iznRr izhfe;e dks ifjiDork dh vof'k"V vof/k ij ifj'kksf/kr fd;k tkrk gSA

10-4 bfDoV 'ks;jksa ds laca/k esa fuos'k iksVZQksfy;ks dks lfØ; :i ls dkjksckj fd, tkus okys] de dkjksckj fd, tkus okys vkSj vlwphc) ds :i esa i`Fkd&i`Fkd fd;k tkrk gSA

10-4-1 Hkkjr esa lfØ; :i ls dkjksckj fd, x, bfDoVh 'ks;jksa dk ewY; fu/kkZj.k ekpZ eghus esa ,u,lbZ esa O;Dr vafre ewY; ij fd;k x;k gS ftldk p;u izeq[k ,Dlpsat ds rkSj ij fd;k x;k gS vkSj ;fn ,slh izfrHkwfr izeq[k ,Dlpsat esa lwphc) ugha gS@dkjksckj ugha fd;k tkrk gS] rks bldk ewY;&fu/kkZj.k ekpZ eghus esa ch,lbZ esa O;Dr vafre ewY; ij fd;k x;k gS ftldk p;u f}rh;d ,Dlpsat ds rkSj ij fd;k x;kA vrÌr ykHk@gkfu dks mfpr ewY; ifjorZu ys[ks esa ys[kkafdr fd;k tkrk gSA

10-4-2 Hkkjr ls ckgj fuxfer dEifu;ksa esa /kkfjr bfDoVh 'ks;jksa lfgr de dkjksckj fd, tkus okys@vlwphc) bfDoVh 'ks;jksa dk ewY;kadu ykxr ij fd;k tkrk gSA rFkkfi] ,sls fuos'kksa ds ewY; esa deh ds fy, izko/kku fd;k tkrk gS tc fo'ysf"kr ewY; ykxr ls de iM+rk gksA fo'ysf"kr ewY; ds udkjkRed gksus dh fLFkfr esa] cgh ewY; ds lerqY; jkf'k ds fy, izko/kku fd;k tkrk gSA

10-5 vf/kekU; 'ks;jksa ds ekeys esa] tgka _.k



213

'kks/ku vkxe rhu o"kZ ls vf/kd le; ls ns; gSa] ns; jkf'k ds fy, izko/kku fd;k tkrk gSA

10-6 {kfr

bfDoVh vkSj vf/kekU; 'ks;jksa esa {kfr dh Lohd`fr rc dh tkrh gS] tgka dEifu;ksa dks fcYdqy fiNys rhu o"kZ ls fujarj gkfu gks jgh gks vkSj ftudh iwath va'kr%@iw.kZr% {kfrxzLr gks xbZ gks ;k tgka fcYdqy fiNys rhu o"kksZa ds fy, okf"kZd ys[ks miyC/k u gksaA ,slh dEifu;ksa esa 'ks;jksa ds fuos'k dk ewY;kadu fuEukuqlkj fd;k tkrk gSA

10-6-1 bfDoVh 'ks;j%

lfØ; :i ls dkjksckj fd, tkus okys 'ks;jksa ds ekeys esa] vafre mn~/k`r vafre ewY; ij ¼mi;qZDr ys[kkdj.k uhfr 10-4-1 ds vuqlkj½] ;k cgh ewY; ij] tks Hkh de gksA

[k½ de dkjksckj fd, tkus okys@vlwphc) bfDoVh 'ks;jksa ds ekeys esa] tgka fo'ysf"kr ewY; udkjkRed gks ;k fiNys rhu o"kksZa ds fy, okf"kZd ys[ks miyC/k u gksa] vf/kdre fiNys rhu o"kksZa ls ds vafre okf"kZd ys[kksa ds vuqlkj fo'ysf"kr ewY; ij] izfr dEiuh #-1@& ds lkadsfrd ewY; ij ewY;kadu fd;k tkrk gSA

10-6-2 vf/kekU; 'ks;j%

d½ ;fn fdlh dEiuh ds bfDoVh 'ks;jksa esa lfØ; :i ls dkjksckj gks jgk gks] rks blds vf/kekU; 'ks;jksa dks ml ewY; rd vafdr fd;k tkrk gS tks blds cgh ewY; okys bfDoVh 'ks;j ds cktkj ewY; ds leku vuqikr esa gksA

[k½ ;fn dEiuh ds bfDoVh 'ks;jksa esa de dkjksckj gks jgk gks@vlwphc) gksa] rks blds vf/kekU; 'ks;jksa dks ml ewY;

more than three years, provision is made for the amount due.

10.6 impairment

Impairment is recognized in equity and preference shares, where the companies have been making losses continuously for the three immediately preceding years and whose capital is impaired partially/ fully or where the annual accounts for the three immediately preceding years are not available. Investments in shares of such companies are valued as under:

10.6.1 Equity Shares:

In the case of actively traded equity shares, at the last quoted closing price( as per Accounting Policy 10.4.1 above),or book value whichever is lower.

b) In case of thinly traded/unlisted equity shares, at the break-up value as per latest annual accounts of the company not earlier than the three immediately preceding years.- Where the break-up value is negative or where the annual accounts are not available for the three immediately preceding years, to a nominal value of Re 1/- per company.

10.6.2 Preference shares:

a) If the equity shares of a company are actively traded, its preference shares are written down to a value which is in the same proportion as the market value of the equity share bears to its face value.

b) If the equity shares of a Company are unlisted/thinly


rd vafdr fd;k tkrk gS tks blds cgh ewY; okys bfDoVh 'ks;j ds cktkj ewY; ds leku vuqikr esa gks( tgka fo'ysf"kr ewY; udkjkRed gks ;k fiNys rhu o"kksZa ds fy, okf"kZd ys[ks miyC/k u gksa] vf/kdre fiNys rhu o"kksZa ls ds vafre okf"kZd ys[kksa ds vuqlkj fo'ysf"kr ewY; ij] izfr dEiuh #-1@& ds lkadsfrd ewY; ij ewY;kadu fd;k tkrk gSA

10-6-3 {kfr gkfu] ftldk izko/kku ys[kkdj.k uhfr la[;k 10-6 ds :i esa fd;k x;k gS] fnukad 01@04@2000 ds ckn] dsoy rHkh fyf[kr vkSj jktLo@ykHk&gkfu ys[ks esa dsoy rHkh Lohd`r dh tkrh gS tc lafpr gkfu;ka iwjh rjg lekIr gks pqdh gksa vkSj iwath uohure miyC/k izdkf'kr [kkrksa ds vuqlkj iwjh rjg cgky gks pqdh gksA rFkkfi] tgka vf/kekU; 'ks;jksa ds ifj'kks/ku vkxe rhu o"kZ ls vf/kd le; ls ns; gksa] ,sls ekeyksa esa {kfr gkfu dk O;qRØe.k bfDoVh vkSj vf/kekU; nksuks 'ks;jksa esa ugha fd;k tkrkA

10-7 E;qpqvy fuf/k;ksa esa fuos'k dk ewY;kadu fuoy ifjlEifRr ewY; ¼,u,oh½ ij fd;k tkrk gS vkSj vizkIr ykHkksa@gkfu;ksa dks ^^vfpr ewY; ifjorZu ys[ks^^ esa ys[kkafdr fd;k tkrk gSA

10-8 m|e iwath fuf/k dh ;wfuVksa esa fuos'kksa dk ewY;kadu ykxr ij fd;k tkrk gSA rFkkfi ;fn vafre fuoy ifjlEifRr ewY; ¼fiNys 18 eghuksa ds nkSjku miyC/k½ ykxr ls de gks] rks ewY; esa deh ds fy, izko/kku ykxr vkSj fuoy ifjlEifRr ewY; ds chp ds varj dh lhek rd fd;k tkrk gSA igys ls Lohd`r gkfu dh lhek rd ,u,oh esa dksbZ Hkh fofu;kstu jktLo esa ys tk;k tkrk gSA

10-9 ekud@fuf"Ø; _.kksa@tek jkf'k;ksa@fMcsapjksa ds fy, izko/kku vkbZvkjMh,vkbZ }kjk tkjh vk; Lohd`fr] ifjlEifRr

traded, its preference shares are written down to a value, which is in the same proportion as the break-up value of equity share bears to its face value; where the break up value of equity share is negative or where the annual accounts are not available for the three immediately preceding years, to a nominal value of Re 1/- per company.

10.6.3 Impairment loss, provided in terms of accounting policy NO 10.6, after 01/04/2000, is written back and recognized in Revenue / Profit and Loss Account only in case the accumulated losses are fully wiped out and capital fully restored as per the latest available published accounts. However, reversal of impairment loss is not recognized for both equity and preference shares in cases where the redemption proceeds of preference shares are due for more than three years.

10.7 Investments in units of Mutual Funds are valued at Net Asset Value (NAV) and the unrealized gains/losses are accounted in “Fair Value Change Account”.

10.8 Investments in units of Venture Capital Fund is valued at cost. However in case the latest Net Asset Value (available during last 18 months) is below Cost, the provision is made for diminution in the Value of Investment to the extent of difference between Cost and Net Asset Value. Any appreciation in the NAV to the extent of loss earlier recognized is taken to revenue.

10.9 Provisions for standard/non-



215

performing loans/deposits/ debentures are made on the basis of prudential norms for income recognition, asset classification and provisioning issued by IRDAI /related RBI Guidelines

11.1 employees’ Benefits:11.1 The liability for gratuity and pension

benefits to employees is determined on accrual basis as per the actuarial valuation at the year end and is administered through an approved fund.

11.2 Provisions for leave encashment and other defined employee benefits are made on the basis of actuarial valuation at the year end.

11.3 The Company pays fixed contribution to Provident Fund at predetermined rates to a separate trust, which invests the funds in permitted securities. The contribution to the fund for the period is recognized as expense and is charged to the Profit & Loss Account. The obligation of the Company is limited to such fixed contribution.

12. taxation:

Tax expense (tax saving) is the aggregate of current year tax, earlier year tax and deferred tax. These are charged (or credited) to the Profit and Loss Account.

12.1 Current year charge: The provision for taxation includes:

a) Provision for taxation on assessable profits of the company as determined under Income Tax Act 1961.

b) Provision of Wealth Tax as determined under the Wealth Tax Act, 1957.

1.2 earlier year charge: Provisions are recorded,

oxhZdj.k vkSj izko/kku izfØ;k ls lacaf/kr foosdiw.kZ ekunaMksa@vkjchvkbZ ds lacaf/kr fn'kkfunsZ'kksa ds vk/kkj ij fd;k tkrk gSA

11- deZpkjh ykHk%

11-1 deZpkfj;ksa dks xzsP;qfV vkSj isa'ku ykHkksa ds fy, nsunkjh dk fu/kkZj.k o"kkZar esa chekafdd ds ewY;kadu ds vuqlkj mip; vk/kkj ij fd;k tkrk gS vkSj bls ,d vuqeksfnr fuf/k }kjk 'kkflr fd;k tkrk gSA

11-2 NqV~Vh udnhdj.k vkSj vU; ifjHkkf"kr deZpkjh ykHkksa ds fy, izko/kku o"kkZar esa chekafdd ds ewY;kadu ds vk/kkj ij fd;k tkrk gSA

11-3 dEiuh iwoZfu/kkZfjr njksa ij Hkfo"; fuf/k esa fu;r va'knku ,d i`Fkd VªLV esa djrh gS] tks fuf/k;ksa dks vuqes; izfrHkwfr;ksa esa fufo"V djrk gSA vof/k ds fy, fuf/k esa va'knku dks [kpZ ds :i esa Lohdr fd;k tkrk gS vkSj ykHk gkfu ys[ks esa ys[kkafdr fd;k tkrk gS dEiuh dh nsunkjh ,sls fu;r va'knku rd lhfer gSA

12- djk/kku%

dj [kpsZ ¼dj cpr½ pkyw o"kZ] iwoorhZ o"kZ ds dj vkSj vkLFkfxr dj dk ldy gksrs gSaA budks ykHk gkfu ys[ks esa izHkkfjr ¼;k ukes Mkyk½ fd;k tkrk gSA

12-1 pkyw o"kZ izHkkj% djk/kku ds fy, izko/kku esa 'kkfey gS%

d½ vk;dj vf/kfu;e 1961 ds v/khu ;Fkk fu/kkZfjr dEiuh ds vkdyuh; ykHkksa ij djk/kku ds fy, izko/kku

[k½ lEifRr dj vf/kfu;e 1957 ds v/khu ;Fkk fu/kkZfjr lEifRr dj dk izko/kku

1-2 iwoZorhZ o"kZ izHkkj% izko/kkuksa dks] vLohd`fr ;k fdlh vU; dkj.k ls vihy ds v/khu ekeyksa ds fy,] lehphu


as considered appropriate, for matters under appeal due to disallowances or for other reasons.

1.3 deferred tax: The Company provides for deferred tax using the liability method, based on the tax effect of timing differences resulting from the recognition of items in the financial statements and in estimating its current income tax provision. Deferred Tax Assets arising from temporary timing differences are recognized to the extent there is reasonable certainty that the assets can be realised in future.-

13. Unclaimed Credit Balances:

Stale cheques unclaimed for more than 3 years from the date of issue, except those related to Statutory Payments, MACT Claims or issued to policyholders towards refund of premium, claims payment or other dues, are written back. Other old credit balances unclaimed for more than 3 years are written back on case to case basis. Unclaimed Cheques related to policyholders’ dues are transferred to “Policyholders’ dues account”.

le>s x, vuqlkj vfHkys[kc) fd;k tkrk gSA

1-3 vkLFkfxr dj% dEiuh foRrh; foojf.kdkvksa esa enksa dh Lohd`fr vkSj vius pkyw vk; dj izko/kkuksa dk izkDdyu djus ds ifj.kkeLo:i gksus okys dkykarksa ds dj izHkko ds vk/kkj ij nsunkjh dh i)fr dk mi;ksx djrs gq, vkLFkfxr dj ds fy, izko/kku djrh gSA vLFkk;h dkykarjksa ls mRiUu gksus okyh vkLFkfxr dj ifjlEifRr;ksa dks ml lhek rd Lohd`r fd;k tkrk gS tgka rd ;g vkSfpR;iw.kZ fuf'prrk gks fd ifjlEifRr;kssa dks Hkfo"; esa izkIr fd;k tk ldrk gSA

13- vnkoh tek 'ks"k%

,sls psdksa dks NksM+dj tks lkafof/kd Hkqxrkuksa] ,e,lhVh nkoksa ;k izhfe;e ds fjQaM] nkoksa ds Hkqxrku ;k vU; ns;rkvksa ds fy, ikWfylh/kkjdksa dks tkjh fd, x, gksa] tkjh djus dh rkjh[k ls 3 o"kksZa ls vf/kd le; ls nkok u fd, x, xrkof/k psdksa dks izfrysf[kr fd;k tkrk gSA vU; iqjkus tek 'ks"kksa] tks 3 o"kksZa ls vf/kd le; ls vnkoh gksa] ekeyk nj ekeyk vk/kkj ij izfrysf[kr fd;k tkrk gSA ikWfylh/kkjdksa ls lacaf/kr vnkoh psdksa dks ^îkWfylh/kkjdksa ds ns;rk [kkrs^^ esa varfjr dj fn;k tkrk gSA



217

[k- [kkrksa dk Hkkx cukus okyh fVIif.k;kavkbZvkjMh,vkbZ }kjk visf{kr fooj.kksa dk izdVuB. notes FoRMing PaRt oF aCCoUntsdisclosures of particulars as required by iRdai.

(` in lacs)

Ø-la-sl. no.

fooj.kParticulars

31-03-2015 dksas at

31.03.2015

31-03-2014 dksas at

31.03.20141. vkdfLed ns;rk,a

Contingent Liabilitiesda.

vkaf'kd pqdrk fuos'kPartly Paid Investments

2292.67 1912.69

[kb

Tkksf[ke vadu izfrc)rk cdk;kUnderwriting Commitment Outstanding

NIL NIL

x

c

,sls nkoksa ds vfrfjDr vU; nkos ftUgsa ikWfyfl;ksa ds varxZr _.k ugha ekuk x;kClaims, other than those under policies, not acknowledged as Debt

175.15 153.40

?kd

daiuh }kjk ;k mldh vksj ls nh xbZ xkjaVhGuarantee given by or on behalf of the Company

NIL NIL

M+

e

fooknkLin lkafof/kd ekax@nsunkjh] ftuds fy, izko/kku ugha fd;k x;k gSStatutory demands/ liabilities, in dispute, not provided for

5671.12# 35554.48*

p

f

ml lhek rd iquchZek nkf;Ro ftlds fy, ys[kk esa izko/kku ugha fd;k x;kReinsurance obligations to the extent not provided for in Accounts

NIL NIL

Ng

vU;Others

118.01 132.15

* 35554-48 yk[k #i, esa ubZ fnYYkh esa vk;dj izkf/kdkfj;ksa }kjk naM ds :i esa yxk, x, 17388-50 yk[k #i, vkSj 18128-94 yk[k #i, ¼Øe'k% vkdyu o"kZ 2005&06 vkSj 2010&11 ds fy,½ tEew esa lsok dj izkf/kdj.k }kjk lsok dj ds fy, olwys x, C;kt ds 4-90 yk[k #i,] gSnjkckn esa vk;dj izkf/kdkfj;ksa }kjk ,e,lhVh C;kt ij VhMh,l ds fy, olwys x, 23-14 yk[k #i, vkSj mPp U;k;ky;] gSnjkckn esa iwoZ deZpkjh }kjk nk;j eqdnesa ¼2013&14½ ds fy, 9 yk[k #i, 'kkfey gSaA* Rs.35554.48 lacs comprises of Rs. 17388.50lacs and Rs. 18128.94 lacs, being Penalty (for the AYs 2005-06 and 2004-05 respectively) imposed by Income Tax Authorities in New Delhi ,Rs.4.90 lacs being interest on Service tax 2007-08 levied by Service tax Authority in Jammu, Rs.23.14 lacs towards TDS on MACT interest levied by Income tax Authorities in Hyderabad and Rs.9 lacs towards case filed by ex-employee in the High Court,Hyderabad (2013-14).

# 5671-12 yk[k #i, esa ubZ fnYyh esa vk;dj izkf/kdkfj;ksa }kjk naM ds :i esa yxk, x, 5628-48 yk[k #i, vkSj 5-60 yk[k #i, ¼Øe'k% vkdyu o"kZ 2005&06 vkSj 2010&11 ds fy,½ tEew esa lsok dj izkf/kdj.k }kjk lsok dj ds fy, olwys x, C;kt ds 4-90 yk[k #i,] gSnjkckn esa vk;dj izkf/kdkfj;ksa }kjk ,e,lhVh C;kt ij VhMh,l ds fy, olwys x, 23-14 yk[k #i, vkSj mPp U;k;ky;] gSnjkckn esa iwoZ deZpkjh }kjk nk;j eqdnesa ¼2013&14½ ds fy, 9 yk[k #i, 'kkfey gSaA


# Rs.5671.12 lacs comprises of Rs.5628.48 lacs and Rs.5.60 lacs,being Penalty (for A.Ys 2005-06 and 2010-11 respectively) imposed by Income Tax Authorities in New Delhi, Rs.4.90 lacs being interest on Service tax 2007-08 levied by Service tax Authority in Jammu, Rs.23.14 lacs towards TDS on MACT interest levied by Income tax Authorities in Hyderabad and Rs.9 lacs towards case filed by ex-employee in the High Court,Hyderabad (2013-14).

(` in lacs)2. Hkkjr esa rFkk Hkkjr ls ckgj daiuh dh ifjlaifRr;ksa ij _.k Hkkj

encumbrances to assets of the Company in and outside india31-03-2015 dks

as at 31.03.2015

31-03-2014 dksas at

31.03.2014d- U;k;ky; ds vkns'kksa ls lhy gq, cSad [kkrsa. Bank Accounts frozen as per Court Orders

60.78lacs 49.36 lacs

[k- ljdkj dh vksj ls i;kZoj.k jkgr dks"k ds varxZr jksdh xbZ tek jkf'k;kab. Deposits held under Environment Relief fund on behalf of the Government

NIL

NIL

(` in lacs)3. _.kksa] fuos'kksa ,oa LFkk;h ifjlaifRr;ksa ds opuc)rk,a ,oa cdk;k ¼yk[k #i, esa½

Commitments made and outstanding for loans, investments and Fixed assets(Rs. in lacs)31-03-2015 dks

as at 31.03.2015

31-03-2014 dksas at

31.03.2014d- _.ka. Loans

1.80 1.80

[k- vkaf'kd pqdrk 'ks;jb. Partly Paid Shares

15.13 15.13

x- vfxze ?kVkrs gq, iwath izfrc)rk,ac. Capital Commitments Net of Advances

25388.10 5408.30

(` in lacs)4. iquchZek ?kVkrs gq, pqdrk nkos

Claims less Reinsurance, paid to31-03-2015 dks

as at 31.03.2015¼yk[k #i, esa½

31-03-2014 dksas at

31.03.2014¼yk[k #i, esa½

d- Hkkjr esa nkosnkja. Claimants in India

498875.11 429833.99

[k- Hkkjr ls ckgj nkosnkjb. Claimants outside India

9108.70 18202.85

x- dqyc. Total

507983.81 448036.84



219

5- ftu nkoksa ds Hkqxrku dks pkj o"kZ ls vf/kd dk le; gks x;k gS mu nkoksa ds ekeys esa nkok nsunkfj;ksa ds fu/kkZj.k ds fy, chekafdd vuqeku

tgka nkok Hkqxrku dh vof/k pkj o"kZ ls vf/kd gks xbZ gS ogka daiuh us dksbZ ikWfylh tkjh ugha dh gSA5. actuarial assumptions for the determination of claim liabilities in the case of claims where the

claim payment period exceed four years. The Company has not issued any policy where claim payment period exceeds four years.

6- nkoksa dh vof/k ¼vkbZch,uvkj dks NksM+dj izR;{k½d½ Hkkjr ds Hkhrj6. ageing of claims (direct excluding iBnR)a) Within india

(` in lacs)

O;olk; dk oxZClass of Business

o"kZYear

cdk;k nkosClaims outstanding for

Ng ekg ls T;knkMore than six months

Ng ekg ls deless than six months

dqytotal

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

vfXuFire

As at 31.3.2015 1983 137813.20 1628 53217.45 3611 191030.65As at 31.3.2014 1936 124529.42 1478 36147.65 3414 160677.07

ejhuMarine

As at 31.3.2015 1878 30487.59 2327 31898.89 4205 62386.48As at 31.3.2014 1942 51687.22 1966 9179.76 3908 60866.98

fofo/kMisc

As at 31.3.2015 164263 319195.79 86959 150620.80 251222 469816.59As at 31.3.2014 220383 343384.35 103039 96481.74 323422 439866.09

dqyTotal

As at 31.3.2015 168124 487496.58 90914 235737.14 259038 723233.72As at 31.3.2014 224261 519600.99 106483 141809.15 330744 661410.15

[k½ Hkkjr ls ckgjb) outside india

(` in lacs)


o"kZYear




dqytotal

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

vfXuFire

As at 31.3.2015 42 2013.67 40 325.27 82 2338.94As at 31.3.2014 67 292.53 52 2126.85 119 2419.38

ejhuMarine

As at 31.3.2015 57 318.07 75 218.54 132 536.61As at 31.3.2014 79 212.97 60 228.82 139 441.79

fofo/kMisc

As at 31.3.2015 2488 4503.80 1339 1776.63 3827 6280.43As at 31.3.2014 1566 1736.58 2774 6298.04 4340 8034.62

dqyTotal

As at 31.3.2015 2587 6835.54 1454 2320.44 4041 9155.98As at 31.3.2014 1712 2242.08 2886 8653.71 4598 10895.79


x½ dqyc) total

(` in lacs)


o"kZYear




dqytotal

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

vfXuFire

As at 31.3.2015 2025 139826.87 1668 53542.72 3693 193369.59As at 31.3.2014 2003 124821.95 1530 38274.50 3533 163096.45

ejhuMarine

As at 31.3.2015 1935 30805.66 2402 32117.43 4337 62923.09As at 31.3.2014 2021 51900.19 2026 9408.58 4047 61308.78

fofo/kMisc

As at 31.3.2015 166751 323699.59 88298 152397.43 255049 476097.02As at 31.3.2014 221949 345120.93 105813 102779.78 327762 447900.71

dqyTotal

As at 31.3.2015 170711 494332.12 92368 238057.58 263079 732359.70As at 31.3.2014 225973 521843.07 109369 150462.86 335342 672305.94

(` in lacs)7. iquchZek tksf[ke vadu ?kVkrs gq, izhfe;e

Premium less Reinsurance underwritten from 31-03-2015

¼yk[k #i, esa½as at 31.03.2015

(Rs. in lacs)

31-03-2014 ¼yk[k #i, esa½

as at 31.03.2014(Rs. in lacs)

d- Hkkjr esa dkjksckja. Business in India

631078.21 617810.43

[k- Hkkjr ls ckgj dkjksckjb. Business outside India

16160.50 20336.45

x- dqyc. Total

647238.71 638146.88

8- D;k Ckkg~; izek.kksa ij fo'okl fd;k x;k gS vFkok ugha] bl rF; lfgr vk/kkj vkSj mlds izek.ku ds lkFk Js.khokj fofHkUu tksf[ke iz.kkyh ds vk/kkj ij izhfe;e vk; dh ek=k Lohd`r dh tkrh gS%

izR;sd lacaf/kr jktLo ys[kk esa tksf[keksa ds vuqeku ds vk/kkj ij iquchZek dks ?kVkrs gq, izhfe;eksa dks Lohdr fd;k tkrk gS vkSj vlekIr tksf[keksa ds fy, jktLo mldh izfr'krrk ij vk/kkfjr gksrk gS] tks fd chek vf/kfu;e] 1938 ds vuqlkj vfXu] eSjhu dkxksZ vkSj fofo/k O;olk; ds ekeys esa 50 izfr'kr vkSj eSjhu gy O;olk; ds ekeys esa 100 izfr'kr gksrk gSA

8. Extent of premium income recognized, based on varying risk pattern, category wise, with basis and certification thereof, including whether reliance has been placed on external evidence:

Premiums are recognized, net of reinsurance, based on assumption of risks in each related Revenue account and Reserve for Unexpired Risks is based on a percentage thereof, being 50% in case of Fire, Marine Cargo and Miscellaneous business and 100% in case of Marine Hull business as per Insurance Act,1938.



221

(` in lacs)9. fuos'kksa ds laca/k esa vuqca/kksa dk ewY;

Value of contracts in relation to investments for 31-03-2015

¼yk[k #i, esa½as at 31.03.2015

31-03-2014 ¼yk[k #i, esa½

as at 31.03.2014d- [kjhn tgka vkiwfrZ yafcr gSa. Purchases where deliveries are pending

'kwU;NIL

'kwU;NIL

[k- fcØh] tgka Hkqxrku vfrns; gSb. Sales where payments are overdue

'kwU;NIL

'kwU;NIL

(` in lacs)

31-03-2015 ¼yk[k #i, esa½

as at 31.03.2015

31-03-2014 ¼yk[k #i, esa½

as at 31.03.201410. mfpr ewY; vk/kkj ij ewY;kafdr bfDoVh 'ks;jksa@E;wpqvy

QaMksa dh bdkb;ksa dh ,sfrgkfld ykxrHistorical cost of Equity Shares/ Units of Mutual Funds valued on Fair Value Basis

218379.10 223086.92

11- izca/kdh; ikfjJfed dh x.kuk daiuh vf/kfu;e] 2013 dh /kkjk 197 ds izko/kkuksa ds vuqlkj] izeq[k izca/kdh; dkfeZdksa vkSj funs'kdksa dks vnk fd,

tkus okys ikfjJfed dh x.kuk /kkjk 198 esa fu/kkZfjr rjhds ls dh tkrh gS vkSj ;g daiuh ds fuoy ykHkksa ds 11 izfr'kr ls vf/kd ugha gksrhA xr o"kZ rd] daiuh dks ljdkjh daiuh gksus dh otg ls daiuh vf/kfu;e dh /kkjk 620 ds varxZr fnukad 31 tuojh 1978 dh vf/klwpuk th,lvkj 235 ds }kjk NwV izkIr FkhA

11. Computation of managerial remuneration As per provisions of section 197 of the Companies Act,2013, remuneration paid to Key Managerial

Personnel and directors has been computed in the manner laid down in Section 198 and does not exceed 11% of the net profits of the Company. Till previous year, the company being a Government Company was exempted vide notification GSR 235 dated 31st January 1978 under section 620 of the Companies Act, 1956.

12 _.k izfrHkwfr;ksa ds ifj'kks/ku ds vk/kkj ij%& _.k izfrHkwfr;ksa dk ifj'kks/ku ifjiDork ds rkjh[k rd vof'k"V fnuksa dh la[;k ds vk/kkj ij fd;k tkrk gSA ifj'kks/ku

dh x.kuk djrs le; iqV@dkWy ds fodYi ij fopkj ugha fd;k tkrkA cgjgky] vkaf'kd 'kks/ku] ;fn dksbZ gks] ij fopkj fd;k tkrk gSA

12. Basis of amortization of debt securities:- Debt Securities are amortized on the basis of residual number of days up to the date of maturity. While

working out amortization put/call option is not considered. However, partial redemption, if any, is taken into account.

13 miktZu ds yafcr jgrs] ^mfpr ewY; ifjorZu [kkrk* esa _.k 'ks"k forj.k ds fy, miyC/k ugha gSA 13. Pending realization, the credit balance in the ' Fair value change account' is not available for

distribution.


14- fuos'k laink dk mfpr ewY; ,oa mldk vk/kkj vkbZvkjMh,vkbZ ¼chek daifu;ksa dk foRrh; fooj.k ,oa ys[kkijh{kdksa dh fjiksVZ rS;kj djuk½] fofu;eu] 2002 ds varxZr

vko';d fuos'k laink ¼jh;y ,LVsV½ dk ewY; ,sfrgkfld ykxr esa ls lap;h ewY;ákl ,oa gkfu] ;fn dksbZ gks] ij vkadk x;k gSA

14. Fair value of investment Property and basis thereof As required under the IRDAI (Preparation of Financial Statements and Auditor"s Report of Insurance

Companies) Regulations, 2002, the value of Investment Property (Real Estate) has been valued at historical cost less accumulated depreciation and impairment loss, if any.

(` in lacs)

31-03-2015 ¼yk[k #i, esa½

as at 31.03.2015

31-03-2014 ¼yk[k #i, esa½

as at 31.03.201415. rqyu i= dh frfFk dks fuLrkfjr nkos rFkk 6 ekg ls vf/

kd le; ls xSj pqdrk 'ks"kClaims settled and remaining unpaid for more than 6 months as on the Balance Sheet date

5.30

6.18

(` in lacs)16. lkafof/kd vis{kkvksa ds vuq:i fd, x, fuos'k

Investments made in accordance with statutory requirements 31-03-2015

¼yk[k #i, esa½as at 31.03.2015

31-03-2014 ¼yk[k #i, esa½

as at 31.03.2014d- chek vf/kfu;e] 1938 dh /kkjk 7 ds vuq:i dsanz ljdkj dh 6-01 izfr'kr izfrHkwfr;ka 2028 ,pMh,Qlh cSad ds ikl teka. 6.01% Central Government Securities 2028 deposited with HDFC Bank in accordance with Section 7 of Insurance Act, 1938

1711.07 F.V.1700.00

1711.92F.V.1700.00

[k- LFkkuh; dkuwuksa ds varxZr lkafof/kd tek ds :i esa Hkkjr ls ckgj fd, x, fuos'kb. Investments made outside India by way of Statutory Deposits under local laws

10470.54 9044.64

x- lsch ds funZs'kksa ds vuq:i laLFkkxr O;kikj ds fy, ekftZu ds :i esa lkof/k tekc. Fixed Deposits as margins for Institutional Trades as per SEBI directives

500.00 500.00



223

(` in lacs)17. ys[kkdj.k uhfr la[;k 10-8 ds vuq:i vk; dh Lohd`fr ds mn~ns'; ls _.k lfgr lfØ;* ,oa xSj lfØ;*

fuos'k dk fooj.k uhps fn, x, fooj.k ds vuqlkj gS%Performing* and non-performing* investments including loans for the purpose of income recognition as per Accounting Policy No. 10.8 are as under:

31-03-2015 ¼yk[k #i, esa½

as at 31.03.2015

31-03-2014 ¼yk[k #i, esa½

as at 31.03.2014d- lfØ; fuos'ka. Performing Investments

863873.32 786713.15

[k- xSj&lfØ; fuos'kb. Non-Performing Investments

6775.01 5405.24

x- dqyc. Total

869540.00 792118.39

*E;wpqvy QaM] osapj QaM] bfDoVh ,oa vf/kekuh 'ks;jksa dks NksM+dj* Excluding mutual fund, venture fund, equity and preference shares.

18- fiNys ikap o"kksZa ds fy, foRrh; fooj.kksa dk lkj% fiNys ikap o"kksZa ds fy, foRrh; fooj.kksa dk lkj fuEukuqlkj gS%18. summary of financial statements for the last 5 years: The summary of financial statements of the Company for the last five years are as under:

(` in lacs)

foRrh; fooj.kksa dk lkjsummary of Financial statements

Ø- la-sl.no.

fooj.k izpkyu ifj.kkeParticularsoPeRating ResUlts

2014-15 2013-14 2012-13 2011-12 2010-11

1 ldy izR;{k izhfe;eGross Direct Premium

756193 728254 673766 619460 556988

2 fuoy izhfe;eNet Premium

647238 638147 554524 523665 461158

3 fuos'k ls vk; ¼fuoy½ Income from Investment (net)

210054 191740 185032 161920 178772

4 vU; vk;Other Income

4894 3325 357 2453 967

5 dqy vk;Total Income

862186 833212 739913 688038 640897

6 deh'ku ¼fuoy½ ¼nykyh lfgr½Commission(Net)(Including Brokerage)

34782 35744 30467 32453 28590



Ø- la-sl.no.


2014-15 2013-14 2012-13 2011-12 2010-11

7 izpkyu O;;Operating Expenses

234798 177543 174870 135446 157254

8 fuoy mixr nkosNet Incurred Claims

526150 511102 439285 489306 406536

9 fuoy vlekIr tksf[ke fjtoZ esa ifjorZuChange in Unexpired Risk Reserve

4722 42750 15817 -5801 30476

10 izpkyu ykHk@gkfuOperating Profit/Loss

61734 66073 79474 36634 18041

xSj&izpkyu ifj.kkenon oPeRating ResUlt

11 'ks;j/kkjd ys[kk ds rgr dqy vk;Total Income under Shareholder"s account

12 Dj iwoZ ykHk@¼gkfu½ ¼?kVk,a% iwokZof/k ensa½Profit/(loss) before tax(less: Prior period items)

62035 65381 79520 36241 17939

13 dj ds fy, izko/kku ¼iwoZorhZ o"kksZa rFkk MhVh,@MhVh,y ds fy, izko/kku lfgr½Provision for tax (including provision for earlier years and DTA/DTL)

22825 19352 26131 10902 12477

14 dj i'pkr ykHk@¼gkfu½Profit/(loss) after tax

39210 46029 53389 25339 5462

15 ikWfylh /kkjd dk ys[kk%Policyholder"s Account:

dqy fuf/kTotal funds

1053979 1031090 925275 831309 716955

dqy fuos'kTotal Investments

1609782 899955 827144 726184 643420

fuos'k ij vk;Yield on Investments

9.12% 8.92% 8.95% 9.24% 8.95%



225


Ø- la-sl.no.


2014-15 2013-14 2012-13 2011-12 2010-11

16 'ks;j /kkjdksa dh ys[kkShareholder"s Account


318183 292174 258780 217852 198402


456160 251766 231335 190303 178053


9.12% 8.92% 8.95% 9.24% 8.95%

17 iznRr bfDoVh iwathPaid up Equity Capital

20000 15000 15000 10000 10000

18 fuoy ewY;Net Worth

318183 289202 252838 217852 198402

19 dqy ifjlaifRr;kaTotal Assets

2628486 2390805 2187937 1997121 1938831

20 dqy fuos'k ij ykHkYield on total investments

9.12% 8.92% 8.95% 9.24% 8.95%

21 izfr 'ks;j miktZu ¼#i,½Earning per share (Rs.)

19.60 30.69 35.59 25.34 5.46

22 izfr 'ks;j cgh ewY; ¼#i,½Book Value per share (Rs.)

159.09 192.80 168.56 217.85 198.40

23 dqy ykHkka'kTotal Dividend

11000.00 10800.00 10650.00 5067.00 0.00

24 izfr 'ks;j ykHkka'k ¼#i,½Dividend per share (Rs.)

5.50 7.20 7.10 5.07 0.00

19- ys[kkdj.k vuqikr% foRr o"kZ 2014&15 ds fy, egRoiw.kZ ys[kkdj.k vuqikr uhps fn, x, vuqlkj gSa%19. accounting Ratios:

The important accounting ratios for the FY 2014-15 are as under:

xSj&thou chek dEifu;ksa ds fy, fo'ys"k.kkRed vuqikr %analytical Ratios for non-life companies %

Ø- la-sl. no.

fooj.kParticulars

31.03.2015 31.03.2014

1 ldy ewY; izhfe;e o`f) nj ¼izfr'kr½Gross Direct Premium Growth Rate

3.84 8.09

2 fuoy ewY; ds laca/k esa ldy izR;{k izhfe;e vuqikr ¼izfr'kr½Gross Direct Premium to Net Worth ratio

237.65 251.81


xSj&thou chek dEifu;ksa ds fy, fo'ys"k.kkRed vuqikr %analytical Ratios for non-life companies %

Ø- la-sl. no.

fooj.kParticulars

31.03.2015 31.03.2014

3 fuoy ewY; dh o`f) njGrowth rate of Net Worth

10.02 14.38

4 fuoy izfr/kkj.k vuqikrNet Retention Ratio

82.19 82.48

5 fuoy deh'ku vuqikrNet Commission Ratio

5.37 5.60

6 ldy izR;{k izhfe;e ds laca/k esa izca/ku O;; vuqikrExpense of Management to Gross Direct Premium Ratio

37.24 30.62

7 fuoy fyf[kr izhfe;e ds laca/k esa izca/ku O;; vuqikrExpenses of Management to Net Written Premium Ratio

43.50 34.94

8 fuoy vftZr izhfe;e ds laca/k esa fuoy mixr nkosNet Incurred Claims to Net Earned Premium

81.89 85.84

9 la;qDr vuqikrCombined Ratio

123.54 119.26

10 fuoy izhfe;e ds laca/k esa rduhdh vkjf{kr vuqikrTechnical Reserves to Net Premium Ratio

1.63 1.62

11 tksf[ke vadu 'ks"k vuqikrUnderwriting balance ratio

(-)0.24 (-)0.22

12 izpkyu ykHk vuqikrOperating profit ratio

8.56 10.54

13 ns;rkvksa ds laca/k esa vFkZlqyHk ifjlaifRr;ksa dk vuqikrLiquid Assets to liabilities ratio

0.30 0.30

14 fuoy miktZu vuqikrNet Earnings ratio

6.05 7.21

15 fuoy ewY; ij ykHk vuqikrReturn on net worth ratio

12.32 15.92

16 visf{kr _.k 'kks/ku {kerk ds varj ¼vkj,l,e½ ds laca/k esa miyC/k _.k 'kks/ku {kerk ds varj ¼,,l,e½ dk vuqikrAvailable Solvency Margin(ASM) to Required Solvency Margin(RSM) ratio

1.68 1.64

17 ldy ,uih, vuqikr&ikWfylh /kkjdksa dk QaM% 'ks;j/kkjd QaMGross NPA Ratio-Policy holders funds ; Shareholder fundsldy ,uih, vuqikrNet NPA Ratio

0.35 : 0.100 : 0

0.42 : 0.12 0 : 0

20- jktLo ys[kk rFkk ykHk ,oa gkfu ys[kk ds chp C;kt] ykHkka'k ,oa fdjk, ds vkoaVu dk vk/kkj daiuh dh ys[kkdj.k uhfr;ksa dh Øe la[;k ,4¼5½ ds vuq:i c;kt] ykHkka'k rFkk fdjk, ds :i esa izkIr vk; dks o"kZ ds

vkjaHk esa ikWfylh/kkjd fuf/k ,oa 'ks;j/kkjd uhf/k ds vk/kkj ij jktLo ys[kk rFkk ykHk ,oa gkfu ys[kk ds chp vkoafVr fd;k tkrk gSA



227

20. Basis of allocation of interest, dividends and rent between Revenue accounts and Profit & loss account.As per sl. no. A 4 (5) of Accounting policies of the Company, income by way of Interest, Dividend and Rent are allocated between Revenue accounts and Profit & Loss account on the basis of Policyholders" Fund and Shareholders" Fund as at the beginning of the year.

(` in lacs)21. Hkkjrh; izR;{k izhfe;e dk {ks=okj C;kSjk

Sector-wise break-up of Indian Direct Premium as at

31.03.2015as at

31.03.2014d- xzkeh.k {ks=a. Rural Sector

100990.51 82877.93

[k- lkekftd {ks=b. Social Sector

161319.85 74191.86

Xk- vU;c. Others

478485.34 555714.21

?k- dqyd. Total

740795.70 712784.00

22- iqu%lajpuk ds v/khu fuos'kksa dk C;kSjk% fofHkUu Jsf.k;ksa ds varxZr iqu% lajfpr dqy ifjlaifRr;ksa ds vkadM+ksa dks ladfyr fd;k tk jgk gSA lacaf/kr Jsf.k;ksa ds

varxZr o"kZ ds nkSjku rFkk fiNys o"kZ esa iqu% lajfpr ,oa fØ;kfUor dh xbZ ifjlaifRr;ksa dks uhps n'kkZ;k x;k gS%22. Break-up of investments subjected to restructuring

The figures of total assets restructured under various categories are being compiled. The assets restructured and implemented during the year and during previous year, under respective categories, are given below:

(` in lacs)

Ø-la-sr. no.

ifjlaifRr dh Js.khCategory of asset

iqu%lajpuk ds v/;/khu rFkk dk;kZfUor dh xbZ ¼o"kZ ds nkSjku½ ifjlaifRr;ka

assets subjected to Restructuring and implemented (during the year)

2014-15 2013-20141 ekud

Standard 0.00 0.00

2 ekud ls fuEurjSub Standard

0.00 0.00

3 lafnX/kDoubtful

554.11 924.16

4 gkfuLoss

0.00 0.00

dqyTotal

554.11 924.16


23- O;olk; vf/kxzg.k ykxr dk C;kSjk Hkkjrh; izR;{k O;olk; ds laca/k esa o"kZ 2014&15 ds nkSjku mixr deh'ku@nykyh dk fooj.k uhps fn;k x;k gS% 23. Break up of Business acquisition Cost

The Commission/Brokerage incurred during the year 2014-15 in respect of Indian Direct Business is given below:

(` in lacs)

Ø-la-sr. no.

Js.khCategory

2014-15 2013-14

1 vfHkdrkZAgents

34094.45 33344.40

2 nykyBrokers

9698.67 9304.73

3 dkjiksjsV ,tsalhCorporate Agency

2980.37 2766.46

4 jsQjy O;oLFkkReferral Arrangement

0 0

dqyTotal

46773.49 45415.59

24. investments 24.1 Shares of the book value (fair value )of

Rs 29.39 lacs (Previous year Rs20.27lacs) having purchase value of Rs.4.23 lacs (Previous year Rs.4.23 lacs )have not been registered in the name of the company, as the transfers are under objection for the period prior to 1998.

24.2 There are discrepancies in investments as per company"s books with the certificates issued by Stock Holding Corporation of India (custodian) of book value (fair value) of Rs0.09 lacs (Short) in SHCIL books) and Rs.3.06 lacs (Excess) in SHCIL books (Previous year Rs. 1.31lacs and Rs6.18lacs respectively). The differences are under reconciliation.

24.3 There is a net release in provisions for bad & doubtful debts of Rs 540.28 lacs (Previous year net release Rs11.25lacs) on account of One Time Settlements/ Restructuring/ Redemption of debts.

24.4 Loans/investments under non-performing assets as on the date of Balance Sheet have

24- fuos'k

24-1 4-23 yk[k #i, ds Ø; ewY; ¼xr o"kZ 4-23 yk[k #i,½ okys 29-39 yk[k #i, ds cgh ewY; ¼mfpr ewY;½ ¼xr o"kZ 20-27 yk[k #i,½ ds 'ks;jksa dks daiuh ds uke iathd`r ugha fd;k x;k gS D;ksafd bldk varj.k 1998 ls igys dh vof/k ds fy, vkifRr ds v/khu gSA

24-2 daiuh ds cgh[kkrksa ds vuqlkj Hkkjrh; LVkWd gksfYMax dkjiksjs'ku ¼dLVksfM;u½ }kjk tkjh izek.ki=ksa dh nf"V ls fuos'k esa folaxfr ikbZ xbZ gSA cgh ewY; esa ;g varj 0-09 yk[k #i, ,l,plhvkbZ,y dh cgh esa de rFkk 3-06 yk[k #i, ,l,plhvkbZ,y dh cgh esa T;knk ¼fiNys o"kZ Øe'k% 1-31 yk[k #i, vkSj 6-18 yk[k #i,½ gSA bl varj dk lek/kku fd;k tk jgk gSA

24-3 _.kksa ds ,deq'r lek/kku@iqu%lajpuk 'kks/ku ds laca/k esa 540-28 yk[k #i, ¼xr o"kZ 11-25 yk[k #i, dh fuoy fuxZr jkf'k½ ds v'kks/; ,oa lafnX/k _.kksa ds fy, izko/kkuksa esa fuoy fuxZe jkf'k lekfgr dh xbZ gSA

24-4 rqyu i= dh frfFk dks xSj fØ;k'khy ifjlaifRr;ksa



229

been classified under long term category as their realisibility is not certain.

24.5 In accordance with IRDAI norms on investments, unrealized gains/ loss of Rs 972913.78 lacs (Previous year Rs. 857011.36 lacs) arising due to change in fair value of listed equities and mutual funds are taken to investment and corresponding equal reserve created for the same as ' Fair Value Change Account'. There is no effect on Profit and Loss account and such reserve is not available for distribution.

24.6 Profit on sale of long term investments amounted to Rs.87937.75 lacs (Previous year Rs. 85995.45lacs) during the financial year ended 31.03.2015.

25. immovable PropertiesFixed assets include certain properties costing Rs. 2432.59lacs (previous year Rs2432.59 lacs) for which either title deeds are not on record or registration is pending. The registration/stamp duty charges, to the extent not accounted, will be accounted for at the time of registration.

26. Balances under the following heads are pending reconciliation / confirmation yy Agents" Balances (Net) yy Premium Deposits and Agents" Premium,

included in Current Liabilities. yy Reserve Deposits with ceding companies.yy Amounts due to /from other persons or

bodies carrying on Insurance Business.yy Amounts due to/ from employees.yy Sundry Debtors yy Sundry Creditorsyy Advances

The adjustments, if any, in respect of above will be made upon confirmation/analysis/ reconciliation.

27. depreciation/amortization(i) There is a change in Accounting Policy of the

Company for providing depreciation on tangible Fixed Assets. The Company was earlier charging the depreciation on WDV method at higher of

ds varxZr _.k@fuos'k dks nh?kZdkyhu Js.kh ds rgr oxhZd`r fd;k x;k gS D;ksafd budh olwyh fuf'pr ugha gSA

24-5 fuos'kksa ij vkbZvkjMh,vkbZ ds ekudksa ds vuq:i lwphc) bfDoVh@E;qpqvy QaM ds mfpr ewY; esa ifjorZu ds dkj.k mRiUu 972913-78 yk[k #i, ¼xr o"kZ 857011-36 yk[k #i,½ ds vizkIr ykHk@gkfu dks fuos'k esa yk;k x;k gS vkSj mlds fy, ^mfpr ewY; ifjorZu ys[kk* esa rnuq:i leku vkjf{kr jkf'k dh O;oLFkk dh xbZ gSA ykHk ,oa gkfu ij bldk dksbZ izHkko ugha iM+k gS vkSj bl rjg dh vkjf{kr jkf'k forj.k ds fy, miyC/k ugha gSA

24-6 nh?kZdkyhu fuos'kksa dh fcØh ij dks 31-03-2015 lekIr foRr o"kZ ds nkSjku 87937-75 yk[k #i, ¼xr o"kZ 85995-45 yk[k #i,½ dk ykHk gqvkA

25 vpy laifRr;ka vpy ifjlaifRr;ksa esa 2432-59 yk[k #i, ¼xr o"kZ

2432-59 yk[k #i,½ dh ykxr dh dfri; laifRr;ka 'kkfey gSa ftuds fy, ;k rks LokfeRo foys[k fjdkWMZ esa ugha gS ;k iathdj.k yafcr gSA buds iathdj.k@LVkai 'kqYd izHkkjksa dks vc rd ys[kkc) ugha fd;k x;k gS vkSj mldks iathdj.k ds le; ifjdfyr fd;k tk,xkA

26- fuEufyf[kr 'kh"kksZa ds v/khu 'ks"k lek/kku@vfHkiqf"V ds fy, yafcr gSa y ,tsaVksa dh 'ks"k jkf'k fuoy y izhfe;e tekjkf'k ,oa ,tsaVksa ds izhfe;e dks

orZeku nsunkfj;ksa esa lfEefyr fd;k x;k gSA y can daifu;ksa ds ikl vkjf{kr tek y chek O;olk; djus okys vU; O;fDr;ksa vFkok

fudk;ksa ij@dks cdk;k jkf'k y deZpkfj;ksa ij@dks cdk;k jkf'k y QqVdj nsunkj y QqVdj ysunkj y vfxze

mi;qZDr ds laca/k esa ;fn dksbZ lek;kstu gksuk gS rks mls vfHkiqf"V@fo'ys"k.k@lek/kku ds ckn gh fd;k tk,xkA

27- ewY;gzkl@_.k ifj'kks/ku(i) ewrZ LFkk;h ifjlaifRr;ksa ij ewY;gzkl dk izko/kku djus


the rates mentioned in the Companies Act,1956 and Income Tax Act, 1961. Due to change in the Companies Act, the Company has decided to charge depreciation on tangible Fixed Assets in accordance with the methodology provided in Part C of Schedule II to the Companies Act,2013, on Straight Line basis. Due to this change in Accounting Policy, the depreciation charge for the F.Y.2014-15 is less by Rs.136.44 lacs as compared to the charge which would have been arrived by using the previous accounting policy .The profit for the current year has increased by an equivalent amount.

28. Reserve for Unexpired Risk Direct Premium written in India during the year

attributable to and to be allocated to succeeding accounting periods is less than the percentages laid down in Sec 64V(1)(ii)(b) of the Insurance Act, 1938 and hence Reserve for Unexpired Risks on Premium net of Reinsurance is created at the percentages laid down in Sec 64V(1)(ii)(b) in accordance with IRDAI Regulations in all segments (Refer Accounting Policy No. 4.1, as per IRDAI Master Circular on preparation of Financial Statements-General Insurance- issued in October"2012 and as per Insurance Ordinance 2014.

29. status of income tax and service tax assess-ments

(i) The income tax assessment for and up to the assessment year 2012-13 and service tax assessment for and up to financial year 2002-03 and for the financial years 2008-09 to 2010-11 have been completed. Certain appeals pertaining to Income Tax and Service Tax are pending for the earlier years. The necessary adjustments shall be carried out after completion of assessments/appeals.

(ii) Demands raised by Income Tax authorities have been fully provided for, wherever considered appropriate, in cases where the company has filed or is in the process of filing an appeal with the appropriate authority.

ds fy, daiuh dh ys[kkdj.k Ukhfr esa cnyko vk;k gSA igys daiuh] daiuh vf/kfu;e] 1956 vkSj vk;dj vf/kfu;e] 1961 esa mfYyf[kr njksa esa ls mPprj njksa ij MCY;wMhoh rjhds ls ewY;gzkl izHkkfjr dj jgh FkhA daiuh vf/kfu;e esa ifjorZu dh otg ls] daiuh us daiuh vf/kfu;e] 2013 dh vuqlwph AA ds Hkkx x esas fn, x, rjhds ds vuqlkj ljy js[kk vk/kkj ewrZ LFkk;h ifjlaifRr;ksa ij ewY;gzkl izHkkfjr djus dk fu.kZ; fd;k gSA ys[kkdj.k uhfr esa ifjorZu ds dkj.k] foRr o"kZ 2014&15 dk ewY;gzkl izHkkj ml izHkkj dh rqyuk esa 136-44 yk[k #i, de gS tks fiNyh ys[kkdj.k uhfr dk mi;ksx djds izkIr gksrkA pkyw o"kZ ds fy, ykHk esa lerqY; jkf'k ftruh o`f) gqbZ gSA

28- vlekIr tksf[ke ds fy, vkjf{kr jkf'k o"kZ ds nkSjku Hkkjr esa vftZr izR;{k izhfe;e tks

vkxkeh ys[kkdj.k vof/k esa ;ksxnku nsus okyk rFkk mlesa vkoafVr gksus okyk gS og chek vf/kfu;e] dh /kkjk 64oh (1)(ii) ([k) esa of.kZr izfr'kr Lrj ls de gS vkSj blfy, iquchZek ds ldy izhfe;e ij vlekIr tksf[keksa ds fy, fjtoZ dk fuekZ.k dsoy fofo/k O;olk; dks NksM+dj lHkh laoxksZa esa vkbZvkjMh,vkbZ ds fofu;eksa ds vuq:i /kkjk esa of.kZr izfr'kr Lrj ij rFkk vkbZvkjMh,vkbZ ds fofu;eksa ds vuqlkj /kkjk 64 oh(1)(ii) ([k) esa of.kZr izfr'kr Lrj ij rFkk vkbZvkjMh,vkbZ ds foRrh; fooj.k rS;kj djuk & lkekU; chek ds laca/k esa vDVwcj] 2012 esa tkjh ekLVj ifji= ds vuqlkj vkSj chek v/;kns'k 2014 ds vuqlkj fd;k x;k gSA ¼ns[ksa ys[kkdj.k uhfr 4-1½

29- vk; dj ,oa lsok dj vkdyu dh fLFkfr

(i) vkdyu o"kZ 2012&13 gsrq ,oa ml o"kZ rd vk; dj rFkk foRrh; o"kZ 2002&03 ds fy,@rd ,oa foRrh; o"kZ 2008&09 ls 2010&11 rd ds fy, lsok dj dk vkdyu iwjk dj fy;k x;k gSA iwoZorhZ o"kksZa ds fy, vk; dj rFkk lssok dj ls lacaf/kr dfri; vihysa yafcr gSaA vkdyu@vihy ds iwjk gksus ds ckn vko';d lek;kstu fd, tk,A

(ii) ,sls ekeyksa esa] tgka daiuh us l{ke izkf/kdj.k ds ikl vihy dj j[kh gS ;k bldh izfØ;k esa gS] ogka tgka dgha mi;qDr le>k x;k] vk; dj vf/kdkfj;ksa }kjk



231

(iii) Based upon Hon"ble Delhi High Court Order, Income Tax refund and interest thereon of Rs.2461 lacs and Rs. 8283 lacs respectively were accounted for on an estimated basis in the FY 2004-05. However in view of the appeal filed by the I.T. Department in Hon"ble Supreme Court and clearance given by COD, a provision of Rs. 6518 lacs towards unrealised interest relating to assessment years 1974-75, 1976-77,1977-78 and 1979-80 was created in 2005-06. Though the appeal has been decided by Hon"ble Supreme Court in our favour, the Company has not yet recognized the effect of Supreme Court order, as intimation from IT department for refund of interest is still awaited.

(iv) An interest income of Rs.19.14 crores has been booked during the year on the basis of intimation of refund order of Rs.61.74 crores received from the Income Tax Department for the Assessment Year 1978-79.

(v) Provision for tax includes Rs.22820 lacs for the current year 2014-15 and Rs 5 lacs for the previous year 2013-14 .

30. Provisions For outstanding Claims: In pursuance to IRDAI Master Circular issued

in October" 2012 ,the Appointed Actuary has valued the provision for Free Look Period under the Health Segment as Rs.0.71 lacs for the current year 2014-15 (Previous year Rs.0.51 lacs)

31. Premium deficiency Overall there is no Premium Deficiency in Fire,

Marine and Miscellaneous Revenue Accounts put together and hence no premium deficiency has been provided in the current financial year. However, under the 8 segments falling under Miscellaneous, there is Premium Deficiency of Rs. 362 lacs (Previous year Rs543 lacs) in Aviation. In addition, in Health segment (a reportable segment which contributes to more than 10% of the Premium underwritten), the Premium Deficiency works out to Rs.15873 lacs (previous year Rs. 4096 lacs).

The Premium deficiency is recognized if the sum of expected claims cost, related expenses and

mBkbZ xbZ ekaxksa dk iwjh rjg fuiVkjk dj fn;k x;k gSA

(iii) ekuuh; fnYyh mPp U;k;ky; ds vkns'k ij vk/kkfjr vk; dj okilh dh jde 2461 yk[k #i, rFkk ml ij C;kt dh jkf'k 8283 yk[k #i, dk ys[kk tks[kk foRr o"kZ 2004&05 ds vuqekfur vk/kkj ij fd;k x;k gSA ysfdu vk; dj foHkkx }kjk ekuuh; loksZPp U;k;ky; esa nkf[ky dh xbZ vihy dks /;ku esa j[k dj rFkk lhvksMh }kjk Lohd`fr fn, tkus ds ckn vkdyu o"kZ 1974&75] 1976&77] 1977&78 vkSj 1979&80 ls lacaf/kr vizkIr C;kt ds fy, 6518 yk[k #i, dk izko/kku o"kZ 2005&06 esa l`ftr fd;k x;k FkkA ;|fi ekuuh; loksZPp U;k;ky; us vihy dk QSlyk gekjs i{k esa fn;k gS ysfdu fQj Hkh daiuh us vHkh rd loksZPp U;k;ky; ds vkns'k ds izHkko dks ekU;rk ugha nh gS] D;ksafd C;kt dh okilh ds fy, vk; dj foHkkx ls feyus okyh lwpuk vHkh izrhf{kr gSA

(iv) vk; dj foHkkx dh vksj ls vkdyu o"kZ 1978&79 ds fy, 61-74 djksM+ #i, ds fjQaM vkns'k ds vk/kkj ij o"kZ ds nkSjku 19-14 djksM+ #i, dh C;kt dh vk; cgh esa Mkyh xbZ gSA

(v) dj gsrq izko/kku esa pkyw o"kZ 2014&15 ds fy, 22820 yk[k #i, vkSj xr o"kZ 2013&14 ds fy, 5 yk[k #i, 'kkfey gSA

30- cdk;k nkoksa ds fy, izko/kku% vDVwcj 2012 esa tkjh vkbZvkjMh,vkbZ ds ekLVj

ifji= ds vuqlj.k esa] fu;qDr chekafdd@eqgjZj us pkyw o"kZ 2014&15 ds fy, LokLF; lsxesaV ds v/khu Qzh yqd vof/k ds izko/kku dk ewY;kadu 0-71 yk[k #i, ¼xr o"kZ 0-51 yk[k #i,½ ds :i esa fd;k gSA

31- izhfe;e esa deh vfXu] eSjhu ,oa fofo/k jktLo ys[kk esa izhfe;e esa dksbZ

deh ugha gS vkSj blfy, orZeku foRrh; o"kZ esa fdlh izhfe;e dh deh ds fy, izko/kku ugha fd;k x;k gSA rFkkfi] fofo/k ds varxZr vkus okys vkB laoxksZa esa ls foekuu esa yk[k #i, xr 362 o"kZ yk[k #i, ¼xr o"kZ 543 yk[k #i,½ dh izhfe;e dh deh ntZ dh xbZA blds vfrfDjr LokLF; laoxZ ¼izhfe;e tksf[ke vadu esa 10 izfr'kr ls vf/kd dk ;ksxnku djus okyk ,d


maintenance costs related to claims handling exceeds the unearned premium for the related class of business.

32. expenses incurred Under Following heads

i. Outsourcing Expenses Rs.12560.95 lacs

ii. Marketing Support Rs. NIL

33. Sundry debtors of Rs5558.84 lacs includes Rs. 289.40 lacs paid to income tax(appeals) on account of income tax demand for failure to deduct tax at source in MACT cases, which remains outstanding and so has been provided fully.

34. There is non reconciliation of amount of facultative premium ceded and facultative claims paid recoveries between the accounts maintained by the reinsurance accounts and the group underwriting cells (GUC) of technical departments.

As on 31.03.2015 the net difference for facultative premium ceded comes to Rs 11937.70 lacs (previous year Rs. 6749.67 lacs) and for recoveries it comes to Rs 1330.68 lacs (previous year Rs 4676.26 lacs).

35. Accounting Standard 3: Cash Flow Statement

The Cash Flow statement of the Company has been prepared under the direct method

36. Accounting Standard 5: Prior Period items :-

a) Prior period items consist of the following:

(Rs. in lacs)Ø-la-sr. no.

fooj.kParticulars

2014-15 2013-14

1 iwokZof/k vk;Prior Period Income

12.08 29.48

2 iwokZof/k O;;Prior period expenses

289.26 (-)721.27

fuoy vk;Net Income

301.34 (-)691.79

egRoiw.kZ laoxZ gS½ esa 15873 yk[k #i, ¼xr o"kZ 4096 yk[k #i,½ dh izhfe;e dh deh ntZ dh xbZ gSA

;fn izR;kf'kr nkoksa dh jkf'k] lacaf/kr O;; vkSj nkoksa d fuiVku ls lacaf/kr j[k&j[kko ykxr O;olk; ds lacaf/kr oxZ ds fy, vizkIr izhfe;e ls vf/kd gksrh gS] rks izhfe;e deh dks Lohd`r fd;k tkrk gSA

32- fuEufyf[kr 'kh"kksZa ds v/khu fd;k x;k O;;i. vkmVlksflZax O;;% #i, 12560-95 yk[k #i,i. foi.ku lg;ksx% 'kwU; #i,

33- ,e,lhVh ekeyksa esa lzksr ij dj dVkSrh esa foQyrk gsrq vk; dj dh ekax ds en esa vk; dj ¼vihyksa½ ds fy, pqdk, x, 289-40 yk[k #i, lfgr 5558-84 yk[k #i, dh QqVdj nsunkjh] tks vc rd cdk;k gS vkSj blfy, mls iwjh jkf'k iznku dh xbZ gSA

34- rduhdh foHkkxksa ds lewg tksf[ke vadu izdks"Bksa ¼th;wlh½ ,oa iquchZek [kkrksa }kjk vuqjf{kr [kkrksa ds chp lkSais x, laHkkxh; izhfe;e rFkk laHkkxh; nkos dh pqdrk okilh dh jkf'k dk iqufeZyku ugha gqvk gSA

31-03-2015 dks laHkkxh; izhfe;e ds fy, fuoy varj 11937-70 yk[k #i, ¼xr o"kZ 6749-67 yk[k #i,½ rFkk Hkqxrku ds lkis{k okilh dk varj 1330-68 yk[k #i, ¼xr o"kZ 4676-26 yk[k #i,½ cSBrk gSA

35- ys[kkdj.k ekud 3% udn izokg fooj.k Daiuh dk udn izokg fooj.k izR;{k fof/k ds rgr

rS;kj fd;k x;k gSA

36- ys[kkdj.k ekud 5% iwokZof/k ensa%& d½ iwokZof/k vof/k enksa esa fuEufyf[kr 'kkfey gSa%



233

The amounts are shown separately in profit and loss account after ‘profit before tax"

b) Changes in accounting estimatesAttention is drawn to Accounting Policy 5.1.a, wherein it has been specifically stated that 'Estimated liability for outstanding claims at the year end are based on survey reports, information provided by clients, advices of the leader and other sources upto the date of finalization, past experience and other applicable laws. The estimates are continuously reviewed and provisions made accordingly. However, the final liability may be in excess of, or less than, the amount provided, for which any adjustments will be reflected in the periods in which they become known.' It has also been clarified by the Insurance Regulatory and Development Authority vide letter dated 25th May 2004 that impact of such changes in estimates, do not call for disclosure so long as there is no change in the method of provisioning for outstanding claims. As there has been no change in the method of provisioning for outstanding claims in the current year, no disclosure has been separately made.

c) litigation settlements The settlements made on account of litigations

for the financial year ended on 31.03.2015 amounted to Rs.132854.07 lacs (previous year Rs 129939.41 lacs).

d) disposal of Fixed assets The net proceeds on sale of fixed assets during

the year amounted to Rs.297.77 lacs (previous year Rs. 468.99 lacs) and the net loss on sale of fixed assets amounted to Rs.32.78 lacs (previous year Rs. 94.51 lacs).

37. accounting standard 15 (Revised) The Company has adopted Accounting

Standard, AS-15 (Revised 2005) ‘Employee Benefits" during the financial year 2007-2008.

The defined Employees benefits schemes are as under:

^^dj iwoZ ykHk** ds ckn ykHk gkfu ys[kk esa jkf'k;ka vyx ls n'kkZbZ xbZ gSaA

[k½ ys[kkdj.k vuqekuksa esa ifjorZu ys[kkdj.k uhfr 5-1d dh vksj /;ku vkdf"kZr fd;k tkrk

gS ftlesa fo'ks"k :i ls dgk x;k gS fd o"kZ ds var esa cdk;k nkoksa ds fy, vuqekfur nkf;Ro ¼nsunkfj;ka½ losZ{k.k dh fjiksVZ] xzkgdksa }kjk miyC/k djokbZ xbZ lwpuk] usrkvksa ds ijke'kZ rFkk vafre :i nsus dh rkjh[k rd ds vU; lzksrksa] fiNys vuqHko rFkk ykxw gksus okys vU; dkuwuksa ij vk/kkfjr gksrk gSA vuqekuksa dh fujarj leh{kk dh tkrh gS vkSj rnuqlkj izko/kku fd, tkrs gSaA ysfdu fQj Hkh vafre ns;rk ¼nsunkjh½ miyC/k jkf'k ls vf/kd ;k de gks ldrh gS ftlds fy, fdlh izdkj ds lek;kstu dks ml vof/k esa fn[kk;k tk,xk ftlesa mldh igpku dh xbZ gSA ^chek fofu;ked ,oa fodkl izkf/kdj.k }kjk fnukad 25 ebZ] 2004 ds vius i= ds ek/;e ls ;g Hkh Li"V fd;k x;k gS fd vuqekuksa esa bl rjg ds ifjorZuksa ds izHkko dks rc rd izdV djus dh t:jr ugha iM+rh gS] tc rd cdk;k nkoksa ds fy, izko/kku fuekZ.k dh fof/k esa dksbZ cnyko u fd;k tk,A pwafd pkyw o"kZ esa cdk;k nkoksa ds fy, izko/kku fuekZ.k ds rjhds esa dksbZ ifjorZu ugha fd;k x;k gS blfy, vyx ls dksbZ izdVu ugha fd;k x;k gSA

x½ eqdnesckth dk fuiVku 31-03-2015 fnukad dks lekIr foRrh; o"kZ ds fy, eqdnesckth

ds en esa 132854-07 yk[k #i, ¼xr o"kZ 129939-41 yk[k #i,½ dh jkf'k dk fuiVku fd;k x;k gSA

?k½ LFkk;h ifjlaifRr;ksa dk fuiVku o"kZ ds nkSjku LFkk;h ifjlaifRr;ksa dh fcØh ij fuoy :i

ls 297-77 yk[k #i, ¼xr o"kZ 468-99 yk[k #i,½ dh jkf'k vftZr dh xbZ vkSj vpy ifjlaifRr;ksa dh fcØh ij fuoy ykHk dh jkf'k 32-78 yk[k #i, ¼xr o"kZ 94-51 yk[k #i,½ jghA

37- ys[kkdj.k ekud 15 ¼la'kksf/kr½ daiuh us foRRkh; o"kZ 2007&2008 ds nkSjku ys[kkdj.k ekud

,,l&15 ¼la'kksf/kr 2005½ deZpkfj;ksa ds fy, ykHk dks viuk;k gSA

ifjHkkf"kr deZpkjh ;kstuk,a fuEukuqlkj gSa%


1. eMPloYees BeneFits dURing seRviCe PeRiod

The liability for Sick Leave and LTS is recognized based on Actuarial Valuation.

(a) LTS Liability has decreased by Rs.339 lacs during the year (previous year decreased by Rs. 25.81 lacs) and has been credited/debited to Profit & Loss Account respectively. Total liability for LTS as on 31.03.2015 is Rs. 745.32 lacs (previous year Rs. 1084.20 lacs).

(b) Liability for sick leave for the current year has increased by Rs. 610.13 lacs (previous year increased by Rs2356.99 lacs) and has been debited to Profit and Loss Account. Total liability for sick leave as on 31-03-2015 is Rs. 17588.87 lacs ( previous year Rs.16978.75 lacs).

Assumption:- Availment of 70 % of outstanding sick leave ( previous year 75%). The assumption is based on un-availed sick leave to the credit of employees at the time of retirement, which, being not vesting, lapses on retirement.

2. eMPloYees RetiReMent BeneFits ; This includes Pension, Gratuity and Leave Encashment.

Pension:Company has a Defined Pension Scheme. Under this scheme, Pension is payable to Employees who have opted for Pension Scheme. Company has created separate Fund for the Scheme which is funded by the Company and managed by separate Trust. The liability for the same is recognized on the basis of actuarial valuation.

However, in case of employees who joined service from 1st January 2004 onwards, Pension is Contributory benefit scheme wherein Company"s obligation is restricted only to the periodic contributions. Total funds accumulated under this scheme as on 31.03.15 amounting to Rs.3200.50 lacs including interest of Rs. 572.55lacs since

lsokdky ds nkSjku deZpkfj;ksa ds ykHk chekjh vodk'k ,oa ,yVh,l ds fy, nkf;Ro dh igpku

chekafdd ewY;kadu ds vk/kkj ij dh tkrh gSA

¼d½ o"kZ ds nkSjku ,yVh,l nsunkjh esa 339 yk[k #i, dh deh ¼xr o"kZ 25-81 yk[k #i,½ dh deh gqbZ gS vkSj bls ykHk ,oa gkfu [kkrk esa ØsfMV@MsfcV dj fn;k x;k gSA 31-03-2015 dks ,yVh,l dh dqy ns;rk 745-32 yk[k #i, ¼xr o"kZ 1084-20 yk[k #i,½ gSA

¼[k½ pkyw o"kZ ds fy, chekjh vodk'k gsrq nkf;Ro esa 610-13 yk[k #i, ¼xr o"kZ 2356-99 yk[k #i,½ dh of) gqbZ gS vkSj bls ykHk ,oa gkfu [kkrk esa MsfcV fd;k x;k gSA 31-03-2015 dks chekjh vodk'k ds fy, dqy nkf;Ro 17588-87 yk[k #i, ¼xr o"kZ 16978-75 yk[k #i,½ gSA

vuqeku%& cdk;k chekjh vodk'k ds 70% izfr'kr ¼xr o"kZ 75%½ dk ykHk mBk;k x;kA ;g vuqeku lsok fuofRr ds le; deZpkfj;ksa ds [kkrs esa vizkIr chekjh vodk'k ij vk/kkfjr gS ftls izkIr ugha djus ij lsok fuofRr ij lekIr ekuk tkrk gSA

2- deZpkjh lsokfuofRr ykHk% blesa isa'ku] minku ,oa vodk'k udnhdj.k 'kkfey gSaA

isa'ku% daiuh dh ,d ifjHkkf"kr isa'ku ;kstuk gSA bl ;kstuk

ds varxZr mu deZpkfj;ksa dks isa'ku nh tkrh gS ftUgksaus isa'ku ;kstuk dk fodYi pquk gSA daiuh us bl ;sktuk ds fy, vyx fuf/k cukbZ gS ftldk foRriks"k.k daiuh }kjk fd;k tkrk gSA blds fy, nkf;Ro dh igpku chekafdd ewY;kadu ds vk/kkj ij dh tkrh gSA

rFkkfi] ,sls deZpkfj;ksa ds ekeys esa] ftugksaus 1 tuojh 2004 ds ckn ls daiuh esa ukSdjh dh 'kq#vkr dh gS] isa'ku va'knk;h ykHk ;kstuk gS] ftlesa daiuh dk nkf;Ro dsoy vkof/kd va'knkuksa rd gh lhfer gSA 31-03-15 rd bl ;kstuk ds varxZr lap;h dks"k dh dqy jkf'k 3200-50 yk[k #i, gS ftlesa bldh LFkkiuk ls vc rd dk 572-55 yk[k #i, dk C;kt ¼foRr o"kZ 2014&15 ds fy, 227-94 yk[k #i, dk C;kt½ 'kkfey gS ftldh x.kuk fuos'k iksVZQksfy;ks ij vkSlr izkfIr ds vk/kkj ij dh xbZ gS vkSj tks isa'ku fu;ked ,oa fodkl



235

inception (Rs. 227.94 lacs interest for the FY 2014-15), calculated on the basis of average yield on Investment portfolio, are pending remittance to Pension Regulatory and Development Authority.

gratuity:Company has Defined Benefit Gratuity Plan for all categories of employees. Gratuity is payable after 5 years of continuous service. Company has created separate Fund which is funded by the Company and managed by separate trust. The liability for same is recognized on the basis of actuarial valuation.

amortization of gratuity liability:During the year 2010-11, pay revision of the officers and employees have been carried out by the Company. Further, Government of India , vide Gazette Notification dated May 24th 2010, has revised upward maximum limit for Gratuity under 'Payment of Gratuity Act 1972' from Rs. 3.50 lacs to Rs. 10.00 lacs which resulted in increase in Gratuity Liability by Rs 17122.76 lacs.

In terms of the requirements of Accounting Standard 15 (Revised) on employees" benefits, entire liability of Rs 17122.76 lacs was required to be charged to profit and loss account in the FY 2010-11.

IRDAI, vide Circular No IRDAI/F&A/CIR/ACT/069/04/2011 dated 18th April 2011, has permitted insurers to amortize the additional liability on account of Gratuity over a period of five years. In pursuance of IRDAI Circular, the additional liability on account of Gratuity relating to employees in service amounting to Rs 14856.73 lacs, is being amortized over a period of five years commencing from 2010-11. During the year 2014-15, 1/5th of the liability of Rs. 14856.73 lacs amounting to Rs. 2971.35 lacs has been charged to Revenue / Profit and Loss Account. The balance unamortized liability as on 31.03.2015 is NIL.

izkf/kdj.k dks Hksts tkus ds fy, yafcr gSA

minku% daiuh dh lHkh Jsf.k;ksa ds deZpkfj;ksa ds fy, viuh

ifjHkkf"kr ykHk minku ;kstuk ekStwn gSA ikap o"kZ dh fujarj lsok ds ckn minku dk Hkqxrku fd;k tkrk gSA blds fy, daiuh us iFkd dks"k dk fuekZ.k fd;k gS ftlds fy, /ku dh O;oLFkk daiuh }kjk vkSj bldh ns[k js[k ,d iFkd U;kl }kjk dh tkrh gSA chekafdd ewY;kadu ds vk/kkj ij blds nkf;Ro dh igpku dh tkrh gSA

minku nkf;Ro dk _.k 'kks/ku% o"kZ 2010&11 ds nkSjku daiuh }kjk vius vf/kdkfj;ksa

,oa deZpkfj;ksa ds osru dh leh{kk dh xbZ gSA blds vykok Hkkjr ljdkj us fnukad 24 ebZ] 2010 dks tkjh jkti= vf/klwpuk ds ek/;e ls ^^minku Hkqxrku vf/kfu;e 1972^^ ds varxZr minku ds fy, mPpre lhek dh m/oZeq[kh leh{kk djds bls 3-50 yk[k #i, ls c<+kdj 10-00 yk[k #i, fu/kkZfjr fd;k gSA blds ifj.kkeLo:i minku nkf;Ro esa 17122-76 yk[k #i, dh c<+ksrjh gks xbZ gSA

deZpkjh ykHk ij ys[kkdj.k ekud 15 ¼la'kksf/kr½ dh vis{kkvksa ds nf"Vdks.k ls foRr foRr o"kZ 2010&11 esa 17122-76 yk[k #i, ds laiw.kZ nkf;Ro dks ykHk ,oa gkfu [kkrk esa izHkkfjr djuk visf{kr FkkA

vkbZvkjMh, us fnukad 18 vizSy] 2011 ds vius ifji= la[;k vkbZvkjMh,@,Q,aM,@lhvkbZvkj@,lhVh@069@04@2011 ds ek/;e ls chekdrkZvksa dks minku ds ekeys esa ikap o"kZ dh vof/k rd vfrfjDr nkf;Ro ds 'kks/ku dh vuqefr iznku dh xbZ gSA vkbZvkjMh, ds ifji= ds vkyksd esa lsokjr deZpkfj;ksa ls lacaf/kr minku dh en esa vfrfjDr nkf;Ro dh jkf'k 14856-73 yk[k #i, cSBrh gS ftls ikap o"kZ dh vof/k esa 'kksf/kr fd;k tk jgk gS ftldh 'kq#vkr 2010&11 ls gks pqdh gSA o"kZ 2013&14 ds nkSjku dqy 14856-73 yk[k #i, dh ns;rk ls 1@5 Hkkx dh jkf'k 2971-35 yk[k #i, dks jktLo@ykHk ,oa gkfu ys[kk esa izHkkfjr dj fn;k x;k gSA fnukad 31-03-2015 dh fLFkfr ds vuqlkj 'ks"k vifj'kksf/kr ns;rk 'kwU; gSA


leave encashment:Encashment of Privilege Leave (PL) is allowed to all class of employees, both during service period and on retirement. During service period, encashment is allowed for 15 days PL once in 2 years and on retirement, it is restricted to 240 days PL. This is unfunded and recognized on the basis of actuarial valuation.

The summarized position of the above Employees benefits recognized in the Profit and Loss Account and Balance Sheet are as under:

Change in the PResent valUe oF the deFined BeneFit oBligations

NqV~Vh udnhdj.k%

lsokdky ds nkSjku ,oa lsok fuofRr ij] nksuksa vof/k esa deZpkfj;ksa ds lHkh oxksZa ds fy, izhfoyst yho ¼ih,y½ ds udnhdj.k dh vuqefr nh xbZ gSA lsok dky ds nkSjku 2 o"kZ esa ,d ckj 15 fnu ds fy, udnhdj.k dh vuqefr gksrh gS vkSj lsokfuofRr ij ih,y dh lhek 240 fnuksa rd fu;r j[kh gSA blds fy, dks"k ugha gksrk gS vkSj bldh igpku chekafdd ewY;kadu ds vk/kkj ij dh tkrh gSA

ykHk ,oa gkfu ys[kk rFkk rqyui= esa Lohdr deZpkfj;ksa ds mi;qZDr ykHk dh laf{kIr fLFkfr uhps fn, x, vuqlkj gS%

of.kZr ykHk nkf;Roksa ds orZeku ewY; esa ifjorZu

(` in lacs)fooj.kPARTICULARS

isa'kuPENSION

xzsP;qVhGRATUITY

vodk'k udnhdj.kLEAVE ENCASHMENT

14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-121 vizSy 2014 dks of.kZr ykHk nkf;RoDefined benefit obligations as at 1st April,2014

171743 128098 117693 62082 60693 54464* 50835 30619 26474 22119 19914

orZeku lsok ykxrCurrent Service Cost

11838 21380 11036 9799 3843 3322 2799 2642 5510 4754 4593 3480

C;kt ykxrInterest Cost

12651 12875 9519 9454 4723 5315 4310 4233 2275 2222 1699 1615

nkf;Ro ij okLrfod ¼ykHk½@gkfuActuarial (gain) / loss on obligation

35001 8618 26520 2782 2521 (3962) 2521 (1275) 394 738 606 (1073)

iznRr ykHkBenefits paid

(23190) (23689) (22614) (11630) (4593) (3286) (3392) (2067) (3647) (3569) (2543) (1817)

31 ekpZ 2014 dks of.kZr ykHk nkf;RoDefined benefitobligation as at 31st March, 2015

208043 171743 152559 128098 8576 62082 60693 54368 35151 30619 26474 22119



237

;kstuk ifjlaifRr;ksa ds mfpr ewY; esa ifjorZu Change in FaiR valUe oF Plan assets


isa'kuPENSION

xzsP;qVhGRATUITY

14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12

1 vizSy 2014 dks ;kstuk ifjlaifRr;ksa dk mfpr ewY;Fair value of plan assets as at 1st April,2014

44680 119166 116651 117693 62906 56277 52524* 50835

;kstuk ifjlaifRr ij okLrfod ykHkActual return on plan assets

3123 11123 10063 7083 5332 5025 4689 3682

deZpkfj;ksa dk ;ksxnkuEmployer"s contribution

2871 3270 3250 3505 - - - -

vfrfjDr ;ksxnkuAdditional contribution

27179 33170 11447 0 43 4415 2456 0


(23190) (23689) (22614) (11630) (4593) (3286) (3392) (2067)

okLrfod ykHk@gkfuActuarial Gain/Loss

244 1640 369 - 443 475 - -

31 ekpZ] 2015 dks ;kstuk ifjlaifRr;ksa dk mfpr ewY;Fair value of plan assets as at 31st March, 2015

164906 144680 119166 116651 64131 62906 56277 52450

ykHk ,oa gkfu [kkrk esa Lohd`r O;; eXPenses ReCognised in PRoFit and loss aCCoUnt


isa'kuPENSION

xzsP;qVhGRATUITY

14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12

orZeku lsok ykxrCurrent service Cost

11838 21380 11036 9799 3843 3322 2799 2642


12652 12875 9518 9454 4723 5315 4301 4233

;kstuk ifjlaifRr;ksa ij okLrfod ykHkActual return on plan assets

(13123) (11123) (10063) (8032) (5333) (5498) (4689) (3682)


fuoy okLrfod ¼ykHk½@gkfuNet Actuarial (Gain)/Loss

34757 6978 26152 (3721) (2079) (4435) 2006 (1275)

fuoy vkof/kd ykxrvLohd`r _.k 'ks"korZeku o"kZ esa Lohd`rNet Periodic CostUnrecognized credit balance Recognized in current year

46124 30110 36643 14952 4430 -

2972

13792972

2972

44165942

2972

1918 -

-

v'kksf/kr 'ks"kUnamortized balance

jkf'k rqyu i= esa ekU;rk aMoUnt ReCognised in BalanCe sheet


isa'kuPENSION

xzsP;qVhGRATUITY


14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12

31 ekpZ 2015 dks of.kZr ykHk nkf;Ro dk orZeku ewY;Present value of defined benefit obligations as at 31st March, 2015

208043 163864 152559 128098 68576 62082 60694 54368 35151 30619 26474 22119

31 ekpZ 2015 dks ;kstuk ifjlaifRr;ksa dk mfpr ewY; ¼orZeku o"kZ esa daiuh dks ;ksxnku lfgr½Fair value of plan assets as at 31st March, 2015 (including current year Company"s contribution)

164906 144680 119166 128098 64131 62906 56278 52450 - - - -

rqyu i= esa Lohd`r ns;rkLiability recognized in Balance Sheet

43137 19184 33393 NIL 5302 (824) 4416 1918 35151 30619 26474 2205

uksV% mi;qZDr rkfydkvksa esa vkadM+ksa dks fudVre yk[k #i, esa j[kk x;k gSA Note: The figures in the above tables are rounded off to nearest Rupees in Lacs.



239

chekafdd vuqekuchekafdd ewY;kadu ds fy, bLrseky gksus okys izeq[k vuqeku bl izdkj gSa%

aCtUaRial assUMPtion the Principal assumptions used for actuarial valuation are:


isa'kuPENSION

xzsP;qVhGRATUITY


(i) iz;qDr fof/k(i) Method used

vuqekfur bdkbZ _.k fof/kProjected Unit Credit Method



14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12

(ii) NwV nj %(ii) Discount rate %

7.90 9.15 8.45 8.45 9.00 8.15 8.5 7.90 9.00 8.15 8.5

(iii) ifjlaifRr;ksa ij ykHk dh laHkkfor nj* %(iii) Expected rate of return on assets* %

8.86 8..86 8.43 8.44 8.84 9.05 8.5

(iv) Hkfo"; esa osru o`f)# %(iv)Future Salary Increase # %

7 7 5 5 5 5 5 7 7 5 5

(v) e`R;qnj(v) Mortality

..LIC (1996-98).. ..LIC (1994-96).. ..IAL(2006-08).. ..LIC (1994-96).. ..IAL(2006-08).. ..LIC (1994-96)..

vi) deZpkfj;ksa dk dkjksckjvi) Employees Turnover

2 2 2 2 2 2 2 2 2 2 2 2

vii) lsok ds 'ks"k o"kZvii) Remaining working life years

11.69 9.57 10.27 11.00 10.71 11.42 11.21 11.39 10.71 11.42 11.21 11.39

* ;kstuk ifjlaifRr;ksa ij okilh dh vuqekfur nj cktkj dh laHkkouk ij vk/kkfjr gS tks o"kZ ds vkjaHk esa lacaf/kr nkf;Ro dh laiw.kZ thoukof/k gsrq izfrQy ds fy, gSA

# chekafdd us nkf;Ro dk vuqeku yxkus ds Øe esa eqnzkLQhfr] ofj"Brk] inksUufr ,oa vU; lacaf/kr ?kVdksa dk /;ku j[kk gSA

* Expected rate of return on plan assets is based on market expectation, at the beginning of the year, for return over the entire life of the related obligation.

# Actuary, while estimating liability has taken into consideration inflation, seniority, promotion and other relevant factors.


31 ekpZ] 2015 dks U;kl }kjk vuqjf{kr ;kstuk ifjlaifRr;ksa dk C;kSjk fuEukuqlkj gS%Details of Plan Assets maintained by the trust as on 31st March, 2015 are as follows:

¼izfr'kr esa½@(In Percentage)fooj.kPARTICULARS

isa'kuPENSION

xzsP;qVhGRATUITY

14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12

(i) fo'ks"k tek jkf'k;ka(i) special deposits

0.00 4.42 10.01 10.23 6.66 6.92 7.43 8.01

(ii) ljdkjh izfrHkwfr;ka(ii) Government Securities

54.54 51.38 47.01 44.70 35.76 36.18 37.86 38.45

(iii) ca/ki=@fMcsapj(iii) Bonds/debentures

39.69 37.33 38.66 39.00 35.76 36.18 37.86 38.45

(iv) cSad esa tek jkf'k;ka(iv) Deposits in Banks

0.79 2.20 - 0.38 0.48 0.68 - 0.90

(v) vU;(v) Others

4.98 4.67 4.32 5.79 1.13 1.39 1.65 2.60

*xSj&ys[kkijhf{kr*unaudited

Post Retirement Medical Benefits: Company does not have any Post Retirement Medical Benefit Scheme. However medical expenses (both hospitalization and OP expenses) incurred by full time directors of the Company (who are full time employees of the company) for self and family are met by the Company even after the directors cease to be directors/employees of the Company, provided the Company is the Parent Company of such ex-employees. No premium is being charged from the ex-executives concerned for this benefit.

The Company shall bear 75% of the mediclaim premium payable computed on the basis of eligible Sum Insured applicable for the employee based on his notionally adjusted Basic Pay in respect of retired employee and spouse as per clause 09.2.1 and 09.2.2 of the New Group Mediclaim policy which is effective from 2014

Provision for wage revision:Provision for wage revision due to employees w.e.f 1st August 2012 stood at Rs.38143.06 lacs as at 31.03.2015 and it includes Rs.235 crores additional amount provided in the year 2014-15

lsokfuo`fRr i'pkr fpfdRlk ykHk%daiuh ls lsokfuo`fRr ds i'pkr fpfdRlk ykHk dh dksbZ ;kstuk ugha gSA rFkkfi] daiuh ds iw.kZdkfyd funs'kdksa ¼tks fd daiuh ds iw.kZdkfyd deZpkjh gksrs gSa½ }kjk Lo;a vkSj ifjokj ds fy, fpfdRlk O;; ¼vLirky esa HkrhZ ,oa vksihMh O;; nksuksa½ dks daiuh }kjk ml le; Hkh ogu fd;k tkrk gS tc funs'kd daiuh ds funs'kdksa@dkfeZdksa dh Js.kh ls gV tkrs gSa c'krsZ daiuh ,sls iwoZ dkfeZdksa dh ewy daiuh jgh gksA bl ykHk ds fy, lacaf/kr iwoZ vf/kdkfj;ksa ls dksbZ izhfe;e izHkkfjr ugha fd;k tk jgk gSA

daiuh o"kZ 2014 ls ykxw ubZ lkewfgd fpfdRlk nkok uhfr ds mica/k 09-2-1 vkSj 09-2-2 ds vuqlkj lsokfuo`Rr deZpkjh vkSj mldh iRuh@ifr ds laca/k esa mlds vuqekur% lek;ksftr ewy osru ds vk/kkj ij deZpkfj;ksa ds fy, ykxw ik= chfer jkf'k ds vk/kkj ij x.kuk fd, x, ns; fpfdRlk nkok izhfe;e ds 75 izfr'kr fgLls dk ogu djsxhA

ikfjJfed la'kks/ku ds fy, izko/kku%31-03-2015 dh fLFkfr ds vuqlkj deZpkfj;ksa dks 1 vxLr 2012 ls ns; ikfjJfed la'kks/ku laca/kh izko/kku 38143-06 yk[k #i, gS vkSj blesa o"kZ 2014&15 ds fy, izko/kku dh xbZ 235 djksM+ #i, dh vfrfjDr /kujkf'k 'kkfey gSA



241

38. accounting standard 17 segment Reporting:Segmental information has been given in the following format prescribed by IRDAI (Preparation of Financial Statements and Auditor"s Report of Insurance Companies) Regulations, 2002 on Segmental Reporting, as per Schedules 1, 2 and 3 of Balance Sheet.

38- ys[kkdj.k ekud 17 laoxZ fjiksfVZax% rqyui= dh vuqlwph 1]2 vkSj 3 ds vuq:i laoxhZ;

fjiksfVZax ij vkbZvkjMh,vkbZ ¼chek daifu;ksa ds foRrh; fooj.k ,oa ys[kk ijh{kdksa dh fjiksVZ rS;kj djuk½ fofu;e 2002 }kjk fu/kkZfjr fuEufyf[kr izk:i esa laoxhZ; lwpuk miyC/k djkbZ xbZ gS%

(` in lacs)

laoxZsegment

ldy izR;{k izhfe;e foRr o"kZ

2014&15gross direct Premium FY

2014-15

dqy O;olk; dk izfr'kr

Percentage to total Business

ldy izR;{k izhfe;e

foRr o"kZ 2013-14

gross direct Premium FY

2013-14



vfXuFire

101277.67 13.39 103977.09 14.28

eSjhu dkxksZMarine Cargo

24757.89 3.27 27257.21 3.74

eSjhu gyMarine Hull

17389.04 2.30 21032.98 2.89

eksVj vksMhMotor OD

126133.83 16.68 119819.94 16.45

eksVj Vhih ¼ukWu&iwy½Motor TP(Non- Pool)

160572.25 21.23 138363.26 19.00

eksVj Vhih ¼iwy½ ,oa Mhvkj iwyMotor TP(Pool) & D.R. Pool

4739.28 0.63 10628.01 1.46

vfHk;kaf=dhEngineering

35597.77 4.71 37477.16 5.15

mM~M;uAviation

10093.90 1.33 11161.04 1.53

dkexkj {kfriwfrZWorkmen Compensation

8024.56 1.06 8164.60 1.12

O;fDrxr nq?kZVukPersonal Accident

14936.71 1.98 14241.27 1.96

LokLF;Health

205385.25 27.16 189875.15 26.07

nkf;RoLiability

5089.26 0.67 4513.80 0.62

vU; fofo/kOther Miscellaneous

42195.38 5.58 41742.41 5.73

dqy ldy izhfe;eTotal Gross Premium

756192.79 100 728253.93 100


39. accounting standard 18: Related Party disclosure:1. Related party disclosures as per accounting

standard 18a. subsidiaries The Industrial Credit Company Limited.

b. associates India International Insurance Pvt. Ltd., Singapore

Health Insurance TPA of India

c. entities over which control existsi. OICL Staff Provident Fundii. OICL Pension Fundiii. OICL Employees Gratuity Fund

Key Management Personnel: 1. Dr. A.K. Saxena, Chairman-cum-Managing

Director (from 12.06.2012)2. Ms.Rashmi Bajpai,Company Secretary (from

20.08.2007)3. Ms.K.Ramadevi,General Manager & CFO (from

23.06.2014)

transactions with related parties :(` in lacs)

39- ys[kkdj.k ekud 18% lacaf/kr i{k izdVu%1- ys[kkdj.k ekud 18 ds vuqlkj lacaf/kr i{k izdVu

d- lgk;d daifu;ka fn baMfLVª;y ØsfMV daiuh fyfeVsM

[k- lg;ksxh daifu;ka bafM;k baVjus'kuy ba';ksjsal izkbosV fyfeVsM] flaxkiqj

gsYFk ba';ksjsal Vhih, vkWQ bafM;k

x- fudk;] ftu ij fu;a=.k cjdjkj gSi. vksvkbZlh,y deZpkjh Hkfo"; fuf/k ii. vksvkbZlh,y isa'ku fuf/kiii. vksvkbZlh,y deZpkjh minku fuf/k

izeq[k izca/ku dkfeZd%1- MkW- ,-ds- lDlsuk] v/;{k&lg&izca/k funs'kd ¼12-06-

2012 ls½2- lqJh jf'e cktis;h] daiuh lfpo ¼20-08-2007 ls½3- lqJh ds jeknsoh] egkizca/kd ,oa lh,Qvks ¼23-06-2014 ls½

lacaf/kr i{kks ds lkFk laO;ogkj%

Ø-la-sr. no.

laca/k dh izd`frnature of Relationship

dkjksckj dh izd`frnature of transaction

2014-15 2013-14

i) lgk;d daifu;kaSubsidiary

vU; ns; jkf'kOther Amount Due

5.83 5.44

ii) lg;ksxh daifu;kaAssociates

d½ bafM;k baVjus'kuy ba';ksjsal izkbosV fyfeVsM] flaxkiqj%&izkIr ykHkka'k vk; 'ks;jksa esa fuos'ka)India International Insurance Pvt. Ltd., Singapore :- Dividend Income received Investment in shares[k½ gsYFk ba';ksjsal Vhih, vkWQ bafM;k%&b) health insurance tPa of india :-'ks;jksa esa fuos'kInvestment in shares

356.80

391.10

475.00

233.64

391.10

237.50



243

40. leases The company"s office premises and residential

flats for employees are obtained on lease and are renewable/ cancellable at mutual consent. There are no restrictions imposed by lease agreements. Lease terms are based on individual agreements. Significant leasing arrangements are in respect of lease for premises. Aggregate lease rentals amounting to Rs.6214.21 lacs in the current year (previous year Rs.5991.44 lacs) in respect of obligation under lease are charged to Revenue Account in the current year.

41.accounting standard 20 – earnings Per share':

(` in lacs)as at

31.03.2015as at

31.03.2014Net Profit attributable to Shareholders (Rs. in Lacs)

39209.52 46028.73

Weighted Average Number of Equity Shares issued

20,00,00,000 15,00,00,000

Basic & Diluted Earnings per Share of Rs. 10/- each

19.60 30.69

42. accounting standard 22 In view of brought forward Losses, the Deferred Tax Assets is emerging which has not been considered by the company due to uncertainty of future profits.

43. accounting standard 28 In accordance with Accounting Standard-28,

the Management has assessed the possibility of impairment of assets and there is no impairment in the value of fixed assets.

44. In respect of outstanding claim provisions relating to reinsurance acceptances (Refer Accounting Policy no.5.1.a.ii), the following dates were adopted during the year:

1. In respect on Indian business up to the date of finalization of financial statement (Accounting Policy 4.2.)

40- iV~Vs daiuh ds dk;kZy; ifjlj ,oa deZpkfj;ksa ds fy,

vkoklh; Q~ySV iV~Vs ij fy, x, gSa vkSj vkilh lgefr ls [email protected] fd;k tk ldrk gSA iV~Vk djkjksa }kjk dksbZ cafn'k ugha yxkbZ xbZ gSA iV~Vs ds fu;e vyx&vyx djkjksa ij vk/kkfjr gSaA egRoiw.kZ iV~VktU; le>kSrs ifjljksa ds fy, iV~Vs ds laca/k esa gSaA iV~Vs ds varxZr nkf;Ro ds laca/k esa dqy iV~Vk fdjk;k dh jkf'k 6214-21 yk[k #i, ¼xr o"kZ 5991-44 yk[k #i,½ dks pkyw o"kZ esa jktLo ys[kk esa izHkkfjr fd;k x;k gSA

41- ys[kkdj.k ekud 20 & izfr 'ks;j vk;%

31-03-2015 dks 31-03-2014 dks'ks;j/kkjdksa ls lac) fuoy ykHk ¼yk[k #i, esa½

39209.52 46028.73

tkjh bfDoVh 'ks;jksa dh Hkkfjr vkSlr la[;k

20,00,00,000 15,00,00,000

#i, izR;sd okys 'ks;jksa dh izfr 'ks;j ewy vkSj fojfyr vk;

19.60 30.69

42- ys[kkdj.k ekud 22 fiNyh gkfu;ksa dks vkxs yk, tkus ds dkj.k vkLFkfxr

dj ifjlaifRr c<+ jgh gS ftl ij Hkkoh ykHk dh vfuf'prrk ds dkj.k daiuh }kjk fopkj ugha fd;k x;k gSA

43- ys[kkdj.k ekud 28 ys[kkdj.k ekud&28 ds vuqlkj] izca/ku us ifjlEifRr;ksa

dh gkfu dh laHkkouk dk vkdyu fd;k gS vkSj fefJr ifjlEifRr;ksa ds ewY; esa dksbZ gkfu ugha gqbZ gSA

44- iquchZek Lohd`fr ls lacaf/kr cdk;k nkok izko/kkuksa ¼ns[ksa ys[kkdj.k uhfr la[;k 5-1-d-ii½ ds laca/k esa o"kZ ds nkSjku fuEufyf[kr frfFk;ksa dks viuk;k x;k%

1- Hkkjrh; O;olk; ds laca/k esa foRrh; fooj.kksa dks vafre :i nsus dh rkjh[k ¼ys[kkdj.k uhfr 4-2½

2- fons'kh dkjksckj ds lac/k esa%

(i) o"kZ ds var rd gq, leLr uqdlku ,oa mlds


2. In respect on Foreign business:

(i) All losses incurred up to the year-end and communications received up to 30th April of the immediately succeeding year.

(ii) In the case of cancelled treaties, claims paid by the foreign companies as reported in reinsurance returns received up to 15th May or finalization of accounts which ever is earlier, was considered as outstanding claims.

45. The Company has complied with the provisions of Section 3 read with Section 3A of the Insurance Act, 1938, and the notification dated 23 rd March, 2015 under the Insurance Laws (Amendment) Act, 2015.

46. The information as to amount due to suppliers under the Micro, Small and Medium Enterprises Development Act 2006 is not readily available with the company and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/ payable as required under the said Act have not been given.

47. Details of penal actions taken by the various Government Authorities during the year are as under:

rRdky ckn vkus okys o"kZ esa 30 vizSy rd izkIr lwpukA

(ii) fujLr laf/k;ksa ds ekeys esa] 15 ebZ vFkok ys[kkvksa dks vafre :i nsus dh frfFk tks Hkh igys gks] rd izkIr iquchZek okilh esa ;Fkk lwfpr fons'kh dEifu;ksa }kjk fuiVk, x, nkoksa dks cdk;k nkos ekuk x;kA

45- daiuh us chek vf/kfu;e dh /kkjk 3 d ds lkFk ifBr /kkjk 3 vkSj chek dkuwu ¼la'kks/ku½ vf/kfu;e] 2015 ds v/khu 23 ekpZ 2015 dh vf/klwpuk ds izko/kkuksa dk vuqikyu fd;k gSA

46- lw{e] y?kq vkSj e/;e m|e fodkl vf/kfu;e] 2006 ds varxZr vkiwfrZdrkZvksa dks ns; jkf'k ls lacaf/kr lwpuk daiuh ds ikl rS;kj :i ls miyc/k ugha gS vksj blfy, mDr vf/kfu;e ds rgr vko';d Hkqxrs;@Hkqxrku ;ksX; C;kt ds lkFk&lkFk o"kZ ds var esa xSj pqdrk jkf'k] ;fn dksbZ gks] ds laca/k esa dksbZ izdVu ugha fd;k x;k gSA

47- o"kZ ds nkSjku fofHkUu ljdkjh izkf/kdj.kksa }kjk dh xbZ naMkRed dkjZokbZ dk fooj.k uhps fn;k x;k gS%

(` in lacs)

Ø-la-sl.no.

izkf/kdj.kauthority

xSj&vuqikyu@ mYya?kunon Compliance/violation

yxk;k x;k naMPenalty awarded2014-15 2013-14

pqdrk naMPenalty Paid2014-15 2013-14

naM ekQh@dehPenalty waived/reduced2014-15 2013-14

1 vkbZvkjMh,vkbZIRDAI

xSj&vuqikyuNon Compliance

NIL 5 NIL 5 NIL NIL

2 lsok dj izkf/kdj.kService Tax Authorities

lsok dj foHkkx dh ys[kk ijh{kk fjiksVZ ij vk/kkfjr foHkkx }kjk dh xbZ lsok dj dh ekaxService Tax demand raised by Dept based on Audit Report of Service Tax Dept

NIL NIL NIL NIL NIL NIL



245

Ø-la-sl.no.

izkf/kdj.kauthority





3 vk;dj izkf/kdj.kIncome Tax Authorities

vk;dj vf/kfu;e] 1961 dh /kkjk 271¼1½¼x½ ds rgr tqekZukPenalty under Section 271(1)(c) of I.. Tax Act, 1961

19.60 17396.03 9289.30# 6304.62* NIL NIL

4 dksbZ vU; dj izkf/kdj.kAny other Tax Authorities


5 izorZu funs'kky;@ vf/kfu.kZ; izkf/kdj.k@ vFkok ,QbZ,e, vFkkZr Qsek ds varxZr dksbZ izkf/kdj.kEnforcement Directorate/Adjudicating Authority/Tribunal or any Authority under FEMA


6 vkjvkslh@lh,ych@ ,elh,ROC/CLB/MCA

oS/kkfud lhek esa Hkqxrku ;ksX; iwath ugha c<+kbZ xbZNot raising Paid up Capital to Statutory limit


7 nkok fuiVku lfgr ysfdu {kfriwfrZ dks NksM+rs gq, fdlh ekeys ds laca/k esa fdlh U;k;ky;@vf/kdj.k }kjk yx;k x;k naMPenalty awarded by any Court/Tribunal for any matter including claim settlement but excluding compensation

NIL 9 NIL 9 NIL NIL


Ø-la-sl.no.

izkf/kdj.kauthority





8 Hkkjrh; izfrHkwfr ,oa fofue; cksMZSecurities and Exchange Board of India


9 Hkkjrh; izfrLi/kkZ vk;ksxCompetition Commission of India


10 dksbZ vU; dsanzh;@jkT;@LFkkuh; ljdkj@lkafof/kd izkf/kdj.kAny other Central/State/LocalGovernment/Statutory Authority


* 6304-62 yk[k #i, esa vk; dj izkf/kdj.k] ubZ fnYyh }kjk ns; dj okilh ls olwy fd, x, 5099 yk[k #i, 'kkfey gSa vkSj daiuh us bldk fojks/k fd;k gSA blesa daiuh }kjk vkbZVh,Vh ds LFkxukns'k ds laca/k esa Hkqxrku fd, x, 12 djksM+ #i, Hkh 'kkfey gSaA

# 9289-30 yk[k #i, esa fiNys o"kZ 2013&14 esa yxk, x, tqekZus ds 9281-31 yk[k #i, 'kkfey gSa tks vkdyu o"kZ 2005&06 ds fy, 8916-28 yk[k #i, vkSj vkdyu o"kZ 2004&05 ds fy, 365-03 yk[k #i, curk gSA

* Rs.6304.62 lacs includes Rs.5099 lacs recovered by the Income Tax Authority,New Delhi,from tax refunds due and has been protested by the Company. It also includes Rs.12 crores paid by the Company against stay order by ITAT.

# Rs.9289.30 lacs includes Rs.9281.31 lacs penalty awarded in the previous year 2013-14 amounting to Rs,8916.28 lacs for the A.Y. 2005-06 and Rs.365.03 lacs for the A.Y 2004-05.



247

48- ikWfylh/kkjdksa dk cdk;k%ikWfylh /kkjdksa dk mez&okj fo'ys"k.k uhps fn;k x;k gS%48. Policyholders dues: Age wise analysis of Policyholders dues is given hereunder:

cdk;koutstanding

(` in lacs)

fooj.kParticulars

3 ekg rd

Upto 3 months

4&12 ekg

4-12 months

13&18 ekg

13-18 months

19&24 ekg

19-24 months

25&30 ekg

25-30 months

31&36 ekg

31-36 months

> 36 ekg

> 36 months

dqytotal

d- nkos dk fuiVku exj ikWfylh /kkjdksa@chferksa dks fdlh dkj.k ls Hkqxrku ugha ftlesa chferksa@ikWfylh /kkjdksa ls eqdnesckth ds rgr dkj.k 'kkfey ugha gSaAA. Claim settled but not paid to the Policyholders / insured due to any reasons except under litigation from the insured / policyholders.

12.20 0 0 0 0 0 21.54 33.74

[k- izhfe;e dj ;k fdlh vU; 'kqYd dh dksbZ vf/kd olwyh tks ikWfylh /kkjdksa dks ;k rks ikWfylh ds fu;eksa&'krksZa ds vuq:i ;k dkuwu ds eqrkfcd vFkok izkf/kdj.k ds funsZ'k ds rgr ykSVkus ;ksX; gS exj vc rd ykSVkbZ ugha xbZ gSB. Any excess collection of premium / tax or any other charges which is refundable to the policyholder/s either as per term of conditions of the policy or as per law or as per the direction of the Authority but not refundable so far.

184.19 162.54 147.61 141.18 140.00 139.48 1570.38 2485.38


x- ikWfylh dh le;kof/k iwjh gksus ;k fdlh vU; vk/kkj ij chfer O;fDr;ksa@ikWfylh/kkjdksa dks ns;@Hkqxrs; dksbZ vU; jkf'kC. Any other sum due / payable to the insured / policyholders on completion of the policy terms or otherwise.

13.81 6.18 1.96 2.51 1.88 0.66 17.56 44.56

M+- ^d^] ^[k^ ;k ^x^ ds varxZr daiuh }kjk psd tkjh fd, x, ysfdu ikWfylh /kkjdksa@chfer O;fDr;ksa }kjk mu psdksa dks ugha Hkquk;k x;k gSD. Cheques issued by the company under 'A', 'B' or 'C' and cheques have not been encashed by the policyholders/ insured.

1064.44 232.52 152.30 124.70 129.70 141.47 1651.70 3496.83

dqyTotal

1274.64 401.24 301.87 268.39 271.58 281.61 3261.18 6060.51

Notes:-

1. Cheques issued to policyholders and not encashed for less than 3 months are not transferred to policyholders dues as these cheques have not become stale. However, the amounts are shown in the above statement.

2. Claims settled but not paid are not transferred to policyholders dues as these claims have been provided for as outstanding claims. However, the amounts are shown in the above statement.

49. A provision for a sum of Rs.327 lacs has been made at HO under the head 'Reserve for bad and doubtful debts' as on 31.03.2015 towards misappropriation of funds in one of the Divisional Offices.

50. The Company has introduced Integrated Non Life Insurance Application Software (INLIAS) which has not been fully implemented as

fVIif.k;k%&

1- ikWfylh /kkdjksa dks tkjh fd, x, ,sls psd ftUgsa 3 eghus ds Hkhrj ugha Hkquk;k x;k] mUgsa ikWfylh /kkjdksa ds cdk, gsrq LFkkukarfjr ugha fd;k tkrk gS D;ksafd os psd iqjkus ugha gq, gSaA ysfdu mudh jkf'k mi;qZDr fooj.k esa n'kkZbZ xbZ gSA

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49- izHkkxh; dk;kZy;ksa esa ls ,d esa ls fuf/k ds nqfoZfu;kstu ds laca/k esa 31-03-2015 dh fLFkfr ds vuqlkj 'kh"kZ ^^v'kks/; vkSj lafnX/k _.kksa ds fy, vkjf{kr^^ ds varxZr iz/kku dk;kZy; esa 327 yk[k #i, dh jkf'k dk izko/kku fd;k x;k gSA



249

50- daiuh }kjk ,dhd`r ukWu ykbQ ba';ksjsal ,Iyhds'ku lksQ~Vos;j ¼bufy;kl½ vkjaHk fd;k x;k gS fdarq bls vHkh rd iwjh rjg fØ;kfUor ugha fd;k tk ldk gS D;ksafd dqN ekWM~;wYl tSls gsM vkWfQl ,dkmaV~l dalksfyMs'ku ekWM~;wy] th;w,l ekWM~;wy vkSj iquchZek [kkr ekWM~;wy vHkh fodkl@ijh{k.k ds nkSj esa gSaA daiuh bufy;kl esa 'ks"k ekWM~;wYl ds fØ;kUo;u gsrq vko';d dne mBk jgh gSA

51- daiuh vf/kfu;e] 2013 dh /kkjk 135 ds izko/kkuksa ds vuqlkj] 7-92 djksM+ #i, dh /kujkf'k dks ykHk ,oa gkfu [kkrs esa ^lh,lvkj O;;^ uked i`Fkd ykbu vkbVe ds :i esa ntZ fd;k x;k gSA 7-92 djksM+ #i, dh jkf'k esa ls lh,lvkj O;; dh dqy jkf'k 4-59 djksM+ #i, gS vkSj 'ks"k 3-33 djksM+ #i, dks o"kZ 2014&15 ds nkSjku daiuh }kjk pykbZ xbZ lh,lvkj xfrfof/k ds :i esa ntZ fd;k x;k gSA

some Modules, such as Head Office Accounts Consolidation Module, GUC Module and Re- insurance Accounts Module which are under development/testing. Company is taking necessary steps for implementation of remaining Modules in INLIAS.

51.As per the provisions of Section 135 of the Companies Act,2013, an amount of Rs. 7.92 crores has been recognized as a separate line item ‘CSR Expenditure" in the Profit & Loss Account. Out of Rs.7.92 crores actual amount of CSR spent Rs.4.59 crores and the balance of Rs.3.33 crores has been recognized as liability towards CSR activity already undertaken by the Company during the year 2014-15.















xSj thou&chek fo'ys"k.kkRed vuqikrnon liFe analYtiCal Ratios

(` in lacs)

Ø- la-sl. no.

fooj.kParticulars

ldy izR;{k izhfe;e

31-03-2015gross direct

Premium 31.03.2015

ldy izR;{k izhfe;e


Premium 31.03.2014

ldy izR;{k izhfe;e


Premium 31.03.2013

31-03-2015 dks lekIr o"kZZ

ds fy, o`f)growth for

Yr ending 31.03.2015




1 ldy izR;{k izhfe;e o`f) nj ¼dqy½gross direct Premium growth Rate (total)

% %

vfXuFire

101278 103978 96221 -2.6 8.06


24758 27257 28155 -9.17 -3.19

ejhu gyMarine Hull

17389 21033 21605 -17.32 -2.65

eksVj vksMhMotor OD

126134 119820 120651 5.27 -0.69

eksVj Vhih ¼xSj&iwy½Motor TP(Non- Pool)

160572 138363 114888 16.05 20.43

eksVj Vhih ¼iwy½Motor TP(Pool)

0 0 0 #DIV/0! #DIV/0!

eksVj Vhih ¼Mhvkj iwy½Motor TP(D.R. Pool)

4739 10628 13578 -55.41 -21.73


35598 37478 38141 -5.02 -1.74

foekuuAviation

10094 11161 10457 -9.56 6.73


8025 8165 8207 -1.72 -0.51


14937 14241 15678 4.88 -9.16

LokLF;Health

205385 189875 163528 8.17 16.11

ns;rkLiability

5089 4514 4120 12.75 9.56


42195 41741 38536 1.09 8.32

dqyTotal

756193 728254 673766 3.84 8.09



251

Ø- la-sl. no.

fooj.kParticulars

ldy izR;{k izhfe;e


Premium 31.03.2015

ldy izR;{k izhfe;e


Premium 31.03.2014

ldy izR;{k izhfe;e


Premium 31.03.2013







1a ldy izR;{k izhfe;e o`f) nj ¼dsoy Hkkjr½gross direct Premium growth Rate (indian only)

% %

vfXuFire

96161 98447 91575 -2.32 7.5


22482 24943 25924 -9.87 -3.78

ejhu gyMarine Hull

17311 20913 21481 -17.23 -2.64

eksVj vksMhMotor OD

121775 116198 113684 4.8 2.21


159656 137037 113111 16.51 21.15


0 0 0 0 0


4739 10628 13578 -55.41 -21.73


34755 36709 37325 -5.32 -1.65

foekuuAviation

10094 10887 10166 -7.28 7.09


7410 7817 7563 -5.2 3.36


14752 14074 15530 4.82 -9.37

LokLF;Health

205270 189776 163414 8.16 16.13

ns;rkLiability

4795 4258 3976 12.62 7.1


41594 41098 37913 1.21 8.4

dqyTotal

740796 712784 655240 3.93 8.78

1b ldy izR;{k izhfe;e o`f) nj ¼dsoy fons'k½gross direct Premium growth Rate (Foreign only)

% %


Ø- la-sl. no.

fooj.kParticulars

ldy izR;{k izhfe;e


Premium 31.03.2015

ldy izR;{k izhfe;e


Premium 31.03.2014

ldy izR;{k izhfe;e


Premium 31.03.2013







vfXuFire

5116 5531 4646 -7.49 19.05


2276 2314 2231 -1.66 3.72

ejhu gyMarine Hull

78 120 124 -34.54 -3.33

eksVj vksMhMotor OD

4359 3622 6967 20.33 -48.01


916 1326 1777 -30.91 -25.37


0 0 0 0 0


0 0 0 0 0


842 769 817 9.59 -5.87

foekuuAviation

0 274 291 -100 -5.68


614 348 644 76.65 -45.98


184 167 148 10.24 12.82

LokLF;Health

115 99 114 16.09 -12.8

ns;rkLiability

294 256 144 14.86 77.69


601 643 624 -6.52 3.09

dqyTotal

15397 15470 18526 -0.47 -16.5

2 ldy fyf[kr izhfe;e o`f) nj ¼dqy½gross Written Premium growth Rate (total)

% %

vfXuFire

114109 118171 111581 -3.44 5.91


24931 27274 28355 -8.59 -3.81



253

Ø- la-sl. no.

fooj.kParticulars

ldy izR;{k izhfe;e


Premium 31.03.2015

ldy izR;{k izhfe;e


Premium 31.03.2014

ldy izR;{k izhfe;e


Premium 31.03.2013







ejhu gyMarine Hull

19936 23230 24711 -14.18 -5.99

eksVj vksMhMotor OD

126157 119925 120751 5.2 -0.68


160578 138366 114888 16.05 20.44


0 0 0 0 0


7663 14395 17848 -46.77 -19.35


38492 43007 43872 -10.5 -1.97

foekuuAviation

12627 13522 15377 -6.62 -12.06


8025 8165 8207 -1.72 -0.52


14944 14754 16139 1.29 -8.58

LokLF;Health

205409 189875 163528 8.18 16.11

ns;rkLiability

5094 4519 4276 12.73 5.67


49571 58521 43628 -15.29 34.14

dqyTotal

787535 773725 713162 1.78 8.49

2a ldy fyf[kr izhfe;e o`f) nj ¼dsoy Hkkjrh;½gross Written Premium growth Rate (indian only)

% %

vfXuFire

104759 107678 102070 -2.71 5.49


22525 24943 25935 -9.69 -3.82


Ø- la-sl. no.

fooj.kParticulars

ldy izR;{k izhfe;e


Premium 31.03.2015

ldy izR;{k izhfe;e


Premium 31.03.2014

ldy izR;{k izhfe;e


Premium 31.03.2013







ejhu gyMarine Hull

19446 21918 23639 -11.28 -7.28

eksVj vksMhMotor OD

121775 116198 113684 4.8 2.21


159656 137037 113111 16.51 21.15


0 0 0 0 0


7663 14395 17848 -46.77 -19.35


38913 41551 42213 -6.35 -1.57

foekuuAviation

11364 11019 11279 3.13 -2.3


7410 7817 7563 -5.2 3.36


14758 14074 15990 4.86 -11.98

LokLF;Health

205270 189776 163414 8.16 16.13

ns;rkLiability

4795 4258 4131 12.62 3.06


48802 57807 41393 -15.58 39.65

dqyTotal

767136 748470 682271 2.49 9.7

2b ldy fyf[kr izhfe;e o`f) nj ¼dsoy fons'kh½gross Written Premium growth Rate (Foreign only)

% %

vfXuFire

9351 10493 9511 -10.89 10.32


2406 2331 2420 3.2 -3.67

ejhu gyMarine Hull

490 1313 1072 -62.66 22.49



255

Ø- la-sl. no.

fooj.kParticulars

ldy izR;{k izhfe;e


Premium 31.03.2015

ldy izR;{k izhfe;e


Premium 31.03.2014

ldy izR;{k izhfe;e


Premium 31.03.2013







eksVj vksMhMotor OD

4382 3727 7066 17.59 -47.26


922 1330 1777 -30.68 -25.19


0 0 0 0 0


0 0 0 0 0


-421 1456 1658 -128.9 -12.19

foekuuAviation

1263 2503 4099 -49.56 -38.93


614 348 644 76.65 -46


186 680 149 -72.66 356.68

LokLF;Health

139 99 114 39.84 -12.79

ns;rkLiability

299 261 145 14.5 79.89


769 714 2235 7.7 -68.05

dqyTotal

20399 25255 30891 -19.23 -18.24


3 fuoy ewY; ds fy, ldy izhfe;e dk vuqikrgross direct Premium to net Worth Ratio

31-03-2015 dks lekIr o"kZZYear ending 31.03.2015



ldy izhfe;eGross Premium

756193 728254 673766

fuoy ewY;Net Worth

318183 289202 252838

ldy izhfe;e dk fuoy ewY; ds lkis{k vuqikr ¼xq.kk½Ratio of Gross Premium to Net Worth (times)

2.38 2.52 2.66

4 fuoy ewY; dh o`f) njgrowth rate of net Worth




% %

pkyw o"kZZ@vof/k ds var esa fuoy ewY;Net Worth at the end of current year/period

318183 289202 252838

xr o"kZZ@vof/k ds var esa fuoy ewY;Net Worth at the end of previous year/period

289202 252838 208938

o`f) vkSj o`f) nj ¼%½Growth and Growth rate (%)

28981 36364 43900 10.02 14.38

5 fuoy izfr/kkj.k vuqikr ¼dqy½net Retention Ratio (total)

fuoy izhfe;e

net Premium

31.03.2015

fuoy izhfe;e

net Premium

31.03.2014

fuoy izhfe;e

net Premium

31.03.2013

izfr/kkj.kvuqikr (%)Retention

Ratio(%)


Ratio(%)

vfXuFire

50678 67326 64761 44.41 56.97


21492 23658 22310 86.21 86.74

ejhu gyMarine Hull

7796 7443 5566 39.11 32.04

eksVj vksMhMotor OD

119235 113661 109163 94.51 94.78


152496 131332 103324 94.97 94.92


0 0 0 0 0



257


3871 5892 6986 50.52 40.93


24714 29932 30517 64.21 69.6

foekuuAviation

2614 2742 5124 20.7 20.28


7573 7746 7351 94.38 94.87


13224 12837 14568 88.49 87

LokLF;Health

195147 179612 146364 95 94.6

ns;rkLiability

4249 2758 3493 83.4 61.04


44148 53206 35000 89.06 90.92

lHkh foHkkxAll Departments

647239 638147 554524 82.19 82.48

5a fuoy izfr/kkj.k vuqikr ¼dsoy Hkkjrh;½net Retention Ratio (indian only)

fuoy izhfe;e

net Premium

31.03.2015

fuoy izhfe;e

net Premium

31.03.2014

fuoy izhfe;e

net Premium

31.03.2013


Ratio(%)


Ratio(%)

vfXuFire

44290 60214 58696 42.28 55.92


19278 21861 20304 85.58 87.65

ejhu gyMarine Hull

7314 6154 4525 37.62 28.08

eksVj vksMhMotor OD

115082 109977 102316 94.5 94.65


151673 130185 101546 95 95


0 0 0 0 0


3871 5892 6986 50.52 40.93


25494 29002 29472 65.51 69.8

foekuuAviation

1371 158 766 12.06 1.44


7040 7425 6807 95 94.99



13090 12173 14551 88.7 86.49

LokLF;Health

195008 179513 146251 95 94.59

ns;rkLiability

3989 2559 3357 83.18 60.11


43579 52696 33082 89.3 91.16


631078 617810 528659 82.26 82.54

5b fuoy izfr/kkj.k vuqikr ¼dsoy fons'kh½net Retention Ratio (Foreign only)

fuoy izhfe;e

net Premium

31.03.2015

fuoy izhfe;e

net Premium

31.03.2014

fuoy izhfe;e

net Premium

31.03.2013


Ratio(%)


Ratio(%)

vfXuFire

6388 7112 6065 68.32 67.78


2214 1797 2006 92.05 77.09

ejhu gyMarine Hull

482 1289 1041 98.25 98.22

eksVj vksMhMotor OD

4153 3685 6847 94.78 98.87


823 1146 1777 89.33 86.22


0 0 0 0 0


0 0 0 0 0


-780 930 1045 185.26 63.87

foekuuAviation

1244 2583 4357 98.49 103.21


534 321 544 86.88 92.18


134 664 17 72.24 97.65

LokLF;Health

139 99 114 100 100

ns;rkLiability

260 199 136 86.9 76.17


569 510 1917 74.01 71.42


16161 20336 25865 79.22 80.52



259

6 fuoy deh'ku vuqikr dqy (%)net CoMMission Ratio - total (%)

fuoy deh'ku

net Commission

31.03.2015

fuoy deh'ku

net Commission

31.03.2014

fuoy deh'ku

net Commission

31.03.2013

fuoy deh'ku

vuqikr (%)net

Commission Ratio(%)

fuoy deh'ku

vuqikr (%)net

Commission Ratio (%)

vfXuFire

2623 2062 2212 5.18 3.06


2820 3030 2853 13.12 12.81

ejhu gyMarine Hull

-70 -181 -189 -0.9 -2.43

eksVj vksMhMotor OD

10472 10298 10654 8.78 9.06


-261 -157 -1357 -0.17 -0.12


0 0 -124 0 0


0 0 0 0 0


-517 1912 1205 -2.09 6.39

foekuuAviation

109 -929 376 4.18 -33.89


802 763 668 10.6 9.85


1056 833 1146 7.99 6.49

LokLF;Health

12364 10616 8484 6.34 5.91

ns;rkLiability

635 339 431 14.94 12.28


4748 7159 4108 10.75 13.45


34782 35744 30467 5.37 5.6


6a fuoy deh'ku vuqikr & dsoy Hkkjrh; (%)net CoMMission Ratio - indian only (%)

fuoy deh'ku

net Commission

31.03.2015

fuoy deh'ku

net Commission

31.03.2014

fuoy deh'ku

net Commission

31.03.2013

fuoy deh'ku

vuqikr (%)net

Commission Ratio(%)

fuoy deh'ku

vuqikr (%)net


vfXuFire

262 -489 -274 0.59 -0.81


2366 2651 2391 12.28 12.13

ejhu gyMarine Hull

-171 -556 -481 -2.33 -9.03

eksVj vksMhMotor OD

9343 9322 8407 8.12 8.48


-435 -422 -1859 -0.29 -0.32


0 0 0 0 0


0 0 0 0 0


147 1649 845 0.58 5.69

foekuuAviation

-83 -1310 -244 -6.04 -827.74


650 676 589 9.24 9.11


1029 805 1128 7.86 6.61

LokLF;Health

12355 10610 8478 6.34 5.91

ns;rkLiability

549 275 388 13.77 10.73


4563 6848 3581 10.47 13


30578 30059 22949 4.85 4.87



261

6b fuoy deh'ku vuqikr & dsoy fons'kh(%)net CoMMission Ratio - Foreign only (%)

fuoy deh'ku

net Commission

31.03.2015

fuoy deh'ku

net Commission

31.03.2014

fuoy deh'ku

net Commission

31.03.2013

fuoy deh'ku

vuqikr (%)net

Commission Ratio(%)

fuoy deh'ku

vuqikr (%)net


vfXuFire

2361 2551 2486 36.96 35.87


453 379 463 20.47 21.07

ejhu gyMarine Hull

101 374 292 20.87 29.04

eksVj vksMhMotor OD

1129 977 2247 27.18 26.5


174 265 377 21.14 23.12


0 0 0


0 0 0


-664 263 359 85.21 28.24

foekuuAviation

192 381 620 15.44 14.76


152 87 79 28.51 27.15


27 29 19 19.95 4.29

LokLF;Health

9 6 6 6.36 6.16

ns;rkLiability

86 64 43 33.03 32.15


184 311 527 32.37 60.88


4203 5686 7518 26.01 27.96

7 ldy izR;{k izhfe;e ds lkis{k izca/ku ds [kpZ dk vuqikrexpense of Management to gross direct Premium Ratio


Year ending 31.03.2015



izca/ku ds [kpZ¼izR;{k deh'ku lfgr½Expenses of Management (incl. Direct Commission)

281571 222959


fuoy fyf[kr izhfe;e vk;Net Written Premium Income

756193 728254

vuqikr (%)Ratio(%)

37.24 30.62

8 fuoy fyf[kr izhfe;e ds lkis{k izca/ku ds [kpZ dk vuqikrexpense of Management to net Written Premium Ratio



izca/ku ds [kpZ¼izR;{k deh'ku lfgr½Expenses of Management (incl. Direct Commission)

281571 222959

fuoy fyf[kr izhfe;e vk;Net Written Premium Income

647239 638147

vuqikr (%)Ratio(%)

43.5 34.94

9 fuoy mixr nkok vuqikr (%)net inCURRed ClaiMs Ratio (%)

fuoy mixr nkos

net incurred Claims

31.03.2015

fuoy vftZr izhfe;e

net earned Premium

31.03.2015

fuoy mixr nkos

net incurred Claims

31.03.2014

fuoy vftZr izhfe;e

net earned Premium

31.03.2014

31-03-15 dks fuoy

vkbZlhvkj (%)

net iCR as at 31.03.15 (%)

vfXuFire

42506 59002 55525 66044 72.04


8711 22575 11512 22984 38.59

ejhu gyMarine Hull

3418 7443 5148 5566 45.92

eksVj vksMhMotor OD

59961 116448 52345 111412 51.49


134156 141914 104787 117328 94.53


5496 0 2674 0 #DIV/0!


4237 4882 25611 6439 86.79


10613 27323 22743 30225 38.84

foekuuAviation

3338 2678 3827 3933 124.67


1372 7660 1669 7548 17.92


7625 13031 9765 13702 58.52



263

LokLF;Health

226892 187380 187804 162988 121.09

ns;rkLiability

684 3503 81 3125 19.53


17141 48677 27610 44103 35.21


526150 642516 511102 595397 81.89

10 la;qDr vuqikrCombined Ratio

dqytotal

31.03.2015

dqytotal

31.03.2014

Hkkjrh;indian

31.03.2015

Hkkjrh;indian

31.03.2014

fons'kForeign

31.03.2015fuoy mixr nkosNet Incurred Claims

526150 511102 520000 487625 6150

fuoy vftZr izhfe;eNet Earned Premium

642516 595397 623863 572416 18653

fuoy mixr nkok vuqikr (%)Net Incurred Claims Ratio (%)

81.89 85.84 83.35 85.19 32.97

fuoy pqdrk deh'kuNet Commission Paid

34782 35744 30577 30059 4205

izpkyfud izca/ku [kpZOperating Management Expenses

234798 177543 232947 175928 1851

fuoy fyf[kr izhfe;eNet Written Premium

647239 638147 631078 617810 16161

fuoy izpkyfud [kpZ vuqikr (%)Net Operating Expenses Ratio (%)

41.65 33.42 41.76 33.34 37.47

la;qDr vuqikr (%)Combined Ratio (%)

123.54 119.26 125.11 118.53 70.44

11 fuoy izhfe;e vuqikr ds lkis{k rduhdh vkjf{kfr;ksa dk vuqikrtechnical Reserves to net Premium Ratio



vlekIr tksf[keksa ds fy, vkjf{kfrReserve for Unexpired Risks

327517 322795

izhfe;e esa deh gsrq vkjf{kfrPremium Deficiency Reserve

0 0

cdk;k nkoksa ds fy, vkjf{kfrReserve for Outstanding Claims

726461 708295


dqyTotal

1053978 1031090

fuoy izhf;eNet Premium

647239 638147

vuqikr ¼xq.kk½Ratio (Times)

1.63 1.62

12 tksf[ke vadu 'ks"k vuqikrUnderwriting Balance Ratio



tksf[ke vadu rqyu vuqikr

¼xq.kk½U/W Balance

Ratio (times)

tksf[ke vadu rqyu vuqikr

¼xq.kk½U/W Balance

Ratio (times)

vfXuFire

-20595 -19065 -0.35 -0.29


5397 3679 0.24 0.16

ejhu gyMarine Hull

-420 -3458 -0.06 -0.62

eksVj vksMhMotor OD

7847 20782 0.07 0.19


-40563 -19593 -0.29 -0.17


-5496 -2674 #DIV/0! #DIV/0!


-1655 -22501 -0.34 -3.49


5582 -4467 0.2 -0.15

foekuuAviation

-4590 -2121 -1.71 -0.54


3057 3211 0.4 0.43


-172 -339 -0.01 -0.02

LokLF;Health

-114021 -79743 -0.61 -0.49

ns;rkLiability

643 1651 0.18 0.53


11772 -4354 0.24 -0.1

dqyTOTAL

-153213 -128992 -0.24 -0.22



265

13 izpkyfud ykHk vuqikroperating Profit Ratio

31-03-2015 dks lekIr o"kZZ Year ending 31.03.2015


tksf[ke vadu ykHkUnderwriting Profit

-153213 -128992

fuos'kksa ls vk;Investment Income

208223 191740

izpkyfud ykHkOperating Profits

55010 62747

fuoy vftZr izhfe;eNet Earned Premium

642516 595397

vuqikr (%)Ratio(%)

8.56 10.54

14 ns;rkvksa ds lkis{k udn ifjlEifRr;ksa dk vuqikrliquid assets to liabilities Ratio



udn ifjlEifRr;kaLiquid Assets

320126 314186

ikWfylh/kkjdksa dh ns;rk,aPolicyholders' Liabilities

1058948 1035810

vuqikr ¼xq.kk½Ratio (Times)

0.3 0.3

15 fuoy vk; vuqikrnet earnings Ratio




39210 46029

fuoy izhfe;eNet Premium

647239 638147

vuqikr (%)Ratio (%)

6.06 7.21

16 Return on net Worth 31-03-2015 dks lekIr o"kZZ Year ending 31.03.2015



39210 46029


fuoy ewY;Networth

318183 289202

vuqikr (%)Ratio (%)

12.32 15.92

17 visf{kr _.k 'kks/ku ekftZu ds fy, miyC/k _.k 'kks/ku ekftZuavailable solvency Margin to required solvency Margin Ratio





miyC/k _.k 'kks/ku ekftZuAvailable Solvency Margin

286407 262142

visf{kr _.k 'kks/ku ekftZuRequired Solvency Margin

170947 160284

_.k 'kks/ku ekftZu vuqikr ¼xq.kk½Solvency Margin Ratio (Times)

1.68 1.64

18 ,uih, vuqikr (%)nPa Ratio (%)





ldy ,uih, vuqikr&ikWfylh/kkjdksa dh fuf/k;kaGross NPA Ratio - Policyholders' funds

0.35 0.42

ldy ,uih, vuqikr&'ks;j/kkjdksa dh fuf/k;kaGross NPA Ratio - Shareholders' Funds

0.1 0.12

fuoy ,uih, vuqikr&ikWfylh/kkjdksa dh fuf/k;kaNet NPA Ratio - Policyholders' Funds

0 0

fuoy ,uih, vuqikr&'ks;j/kkjdksa dh fuf/k;kaNet NPA Ratio - Shareholders' Funds

0 0



267

1. We confirm that the registration granted by IRDAI has been renewed for the year 2015-16 vide their Registration no. 556

2. All dues payable to statutory authorities have been duly paid.

3. The shareholding pattern and all transfers of shares during 2014-15 are in accordance with statutory and regulatory requirements.

4. During 2014-15, the management has not directly or indirectly invested outside India, the funds of the holders of policies in India.

5. We confirm that the required solvency margin has been maintained.

6. We certify that the values of all assets stated in the Balance Sheet are in accordance with IRDAI Regulations and in our belief do not exceed the realizable or market value.

7. Insurance Company undertakes to provide coverage against insurance risk having very high values of Sum Insured. Further the company provides coverage to a large number of risks having moderate Sum Insured values but located in a cluster and can get affected by a Catastrophic Event resulting in cumulatively large loss to the company. These are risks which are to be managed by the Insurance Company as part of its risk management process.

Reinsurance Programme is a statement detailing methods of management of the various risks – high valued/accumulated, on a portfolio basis.

The Reinsurance Programme is an enabler of business as it enables the company to identify the extent to which the company can do its business on own capital as well as on the borrowed capital from the Reinsurers. Regulations provide that Reinsurance should aim at twin objectives of maximum retention and maximum capacity. The programme for 2014-15 was designed to provide impetus to Company"s growth as well as achieve the regulator"s objective to retain

ManageMent RePoRt on FinanCial stateMents as PeR iRdai RegUlations

vkbZvkjMh,vkbZ ds fofu;eksa ds vuqlkj foRrh; foojf.kdkvksa ij izca/ku dk izfrosnu

1- ge iqf"V djrs gSa fd vkbZvkjMh,vkbZ }kjk iznku fd, x, iathdj.k dk o"kZ 2015&16 ds fy, muds iathdj.k la[;k 556 }kjk uohdj.k fd;k tk pqdk gSA

2- lkaof/kd izkf/kdkfj;ksa dks ns; lHkh ns;rkvksa dk fof/kor Hkqxrku fd;k tk pqdk gSA

3- o"kZ 2014&15 ds nkSjku 'ks;j/kkfjrk dk Lo:i vkSj 'ks;jksas ds lHkh varj.k lkafof/kd vkSj fofu;ked vis{kkvksa ds vuqlkj gSaA

4- o"kZ 2014&15 ds nkSjku, izca/ku us Hkkjr esa ikWfylh/kkdjksa dh fuf/k;ksa dk Hkkjr ls ckgj izR;{kr% ;k vizR;{kr% fuos'k ugha fd;k gSA

5- ge iqf"V djrs gSa fd visf{kr _.k 'kks/ku {kerk ekftZu dk vuqj{k.k fd;k x;k gSA

6- ge izekf.kr djrs gSa fd rqyu i= esa mfYyf[kr lHkh ifjlEifRr;ksa ds ewY; vkbZvkjMh,vkbZ ds fofu;keksa ds vuq:i gSa vkSj gekjs fo'okl ds vuqlkj ;s cktkj ewY; ;k fu"ik| ewY; ls vf/kd ugha gSaA

7- chek dEiuh chfer jkf'k ds vR;f/kd mPp ewY; okys chek ds lkis{k chek&lqj{kk iznku djus dh 'kiFk ysrh gSA blds vfrfjDr dEiuh cM+h la[;k esa vYi jkf'k ds chfer] fdarq efyu cfLr;ksa esa fLFkr] ewY;ksa okys tksf[keksa dks chek lqj{kk eqgS;k djkrh gS vkSj ;g fdlh vkink dh ?kVuk esa izHkkfor gks ldrh gS ftlds ifj.kkeLo:i dEiuh dks Hkkjh lafpr gkfu gks ldrh gSA ;s os tksf[ke gSa ftudk izca/ku chek dEiuh }kjk viuh tksf[ke izca/ku izfØ;k ds Hkkx ds :i esa fd;k tkrk gSA

iquchZek dk;ZØe og fooj.k gksrk gS ftlesa fofHkUu tksf[keksa & mPp ewY; okys@lafpr & dk iksVZQksfy;ks vk/kkj ij izca/ku djus dh i)fr;ksa dk C;kSjk fn;k x;k gSA

iquchZek dk;ZØe dkjksckj dk lgk;d gksrk gS D;ksafd ;g dEiuh dks ml lhek dh igpku djus esa l{ke cukrk gS tgka rd dEiuh viuh [kqn dh iwath ds lkFk&lkFk iquchZekdkjksa ls m/kkj yh xbZ iwath ls viuk dkjksckj dj ldrh gSA fofu;eksa esa izko/kku gS fd


the maximum within the country.

Direct premium continued to stabilize on account of self regulation and owner"s intervention. Company continued to improve the controls both on underwriting and claims and the same is reflected by the improvement in the financial performance of the Company.

Proportional Treaty capacity was available, albeit with stricter terms/conditions, with GIC as Leader. Marine Hull Surplus treaty capacity could not be renewed due to continuous poor performance by the H & M Portfolio. Therefore in the absence of proportional capacity, the Marine XOL treaty covers the portfolio. Non-Proportional treaties were available with similar subjectivities and conditions and GIC was our leader for 2014-15. Placement of both Proportional & Non Proportional treaties were successfully completed with rated securities permitted by IRDAI Regulation.

For the year 2015-16 with an aim to achieve the twin objectives of maximization of retention and maximization of capacity, the RI programme is designed to provide Automatic Capacity with expiring limits. A few of the products under Miscellaneous department saw increase in retention limits looking into the growth and market potential.

Lack of capacity was a major hurdle for growth in Liability portfolio despite having a growth potential and the same stands addressed in 2015 16 as Capacity has been created for Liability portfolio.

In view of the growth potential in Aviation industry capacity has been enhanced to take advantage of expected larger sized market.

Based on the results of Catastrophe models, protection against Earthquake Risk has been enhanced.

The international markets in 2015 have been characterized by availability of capacity and relative softening of rates. Despite the effect

iquchZek vf/kdre izfr/kkj.k vkSj vf/kdre {kerk ds nksgjs mn~ns';ksa ij yf{kr gksrk gSA o"kZ 2014-15 ds fy, dk;ZØe dks dEiuh dh o`f) dks vkosx iznku djus ds lkFk lkFk ns'k ds Hkhrj vf/kdre izfr/kkj.k ds fofu;ked ds mn~ns'; dks gkfly djus ds fy, rS;kj fd;k x;k FkkA

izR;{k izhfe;e fujarj Lo&fofu;e vkSj ekfyd ds gLRk{ksi ds dkj.k fLFkj cuk jgkA dEiuh tksf[ke vadu vkSj nkoksa] nksuksa ij fu;a=.k esa lq/kkj djrh jgh vkSj ;g rF; dEiuh ds foRrh; fu"iknu esa lq/kkj }kjk ifjyf{kr gksrk gSA

vkuqikfrd laf/k {kerk miyC/k Fkh] gkykafd vis{kkd`r vf/kd dBksj 'krksZa@fuca/kuksa ds lkFk miyC/k Fkh] ftlesa thvkbZlh vxz.kh gSA ejhu gy vf/k'ks"k laf/k {kerk dks ,p,aM,e iksVZQksfy;ks }kjk fujarj [kjkc fu"iknu dh otg ls uohd`r ugha fd;k tk ldkA blfy, vkuqikfrd }erk u gksus dh otg ls] bl iksVZQksfy;ks dks ejhu ,Dlvks,y laf/k doj djrh gSA xSj&vkuqikfrd laf/k;ka leku O;fDrijdrk vkSj fLFkfr;ksa ds lkFk miyC/k Fkh vkSj o"kZ 2014&15 ds fy, gekjh vxqvk thvkbZlh FkhA vkuqikfrd vkSj xSj&vkuqikfrd nksuksa izdkj dh laf/k;ksa dk fu;kstu vkbZvkjMh,vkbZ ds fofu;e }kjk vuqeRr ewY;kafdr izfrHkwfr;ksa lfgr lQyrkiwoZd fd;k x;kA

o"kZ 2015&16 ds fy,] izfr/kkj.k dks vf/kdre djus vkSj {kerk dks vf/kdre djus ds nksgjs mn~ns'; dks izkIr djus ds y{; ls] lekIr gksus okyh lhekvksa ds lkFk Lopkfyr {kerk eqgS;k djkus ds fy, vkjbZ dk;ZØe rS;kj fd;k x;k gSA o`f) vkSj cktkj dh laHkkoukvksa dks /;ku esa j[krs gq, fofo/k foHkkx ds varxZr dqN mRiknksa dh izfr/kkj.k lhekvksa esa o`f) ns[kh xbZA

o`f) dh laHkkouk gksus ds ckotwn {kerk dh deh nsunkjh iksVZQksfy;ks esa o`f) ds le{k cM+h #dkoV Fkh vkSj o"kZ 2015&16 esa bldk lek/kku fd;k tk pqdk gS] pwafd nsunkjh iksVZQksfy;ks ds fy, {kerk l`ftr dh tk pqdh gSA

foekuu m|ksx esa o`f) dh laHkkouk dks ns[krs gq, vk'kkrhr vf/kd cM+s vkdkj ds cktkj dk ykHk mBkus ds fy, {kerk esa btkQk fd;k x;k gS A



269

of Uttrakhand flood losses on Indian market renewals for the property class in form of higher deductibles sought by Reinsurers for XOL covers, all the treaties have been successfully placed at expiring deductibles.

All the Proportional and XOL treaties have been renewed for 2014-15 with GIC as leader except a few and placement completed with the securities meeting the Regulatory requirements.

8. The present overseas operations of the Company are in Dubai, Kuwait and Nepal. The process of opening an office at Qatar is still under way. The approval from IRDAI for opening an office in Qatar was obtained in January 2014 and steps are in process to complete the formalities required to open the office at Qatar. The Foreign offices" contribution to the Gross Direct Premium Income of the Company is not substantial. Therefore the risk exposure on account of the foreign operations is very minimal.

9. Ageing of claims and trends in settlement of claims: Age-wise analysis of Outstanding Claims in India is given in Annexure 1.

10. The values of all investments including stock and shares have been arrived at in accordance with IRDAI Regulations. The actively traded Equity shares in India, are valued at the last quoted closing price at NSE in the month of March which is selected as the Primary Exchange and in case such security is not listed/not traded on the Primary Exchange, the same are valued at the last quoted closing price at BSE in the month of March which is selected as the Secondary Exchange.

11. A review of asset quality and performance of investment in terms of portfolios are given below:

vkink ekWMyksa ds ifj.kkeksa ds vk/kkj ij] HkwdEi tksf[ke ds lkis{k laj{k.k esa o`f) dh xbZ gSA

o"kZ 2015 esa varjjk"Vªh; cktkjksa dh fo'ks"krk,a {kerk dh miyC/krk vkSj blds lkis{k njksa dk de gksuk jghaA ,Dlvks,y dojksa ds fy, iquchZek }kjk ekaxh xbZ mPprj dVkSrh jkf'k;ksa ds :i esa lEifRr oxZ ds fy, Hkkjrh; cktkj uohdj.kksa ij mRrjk[kaM dh ck<+ ds dkj.k gkfu;ksa ds izHkko ds ckotwn] lekIr gksus okyh dVkSrh jkf'k;ksa ij lHkh laf/k;ka lQyrkiwoZd fu;ksftr dh xbZ gSaA

dqN vkuqikfrd vkSj ,Dlvks,y laf/k;ksa dks NksM+dj] o"kZ 2014-15 ds fy, ,slh lHkh laf/k;ksa dk uohjd.k fd;k tk pqdk gS] ftuesa thvkbZlh vxz.kh jgk] vkSj fofu;ked vis{kkvksa dks iwjk djus okyh izfrHkwfr;ksa ds lkFk fu;kstu izfØ;k iwjh dh tk pqdh gSA

8- dEiuh ds orZeku fons'kh izpkyu nqcbZ] dqoSr vkSj usiky esa gSaA drj esa dk;kZy; [kksyus dh izfØ;k vHkh Hkh py jgh gSA drj esa dk;kZy; [kksyus ds fy, vuqeksnu tuojh 2014 esa izkIr fd;k x;k vkSj drj esa dk;kZy; [kksyus ds fy, visf{kr vkSipkfjdrk,a iwjh dh tk jgh gSaA dEiuh dh ldy izR;{k izhfe;e vk; mYys[kuh; ugha gSA blfy, fons'kh izpkyuksa ds dkj.k tksf[ke vjf{krrk vR;ar ekewyh gSA

9- nkoksa dk ifjiDou vkSj nkoksa ds lek/kku dh izo`fRr;ka% Hkkjr esa cdk;k nkoksa dk vk;q&okj fo'ys"k.k vuqca/k 1 esa fn;k x;k gSA

10- LVkWd vkSj 'ks;jksa lfgr lHkh fuos'kksa ds ewY; dh x.kuk vkbZvkjMh,vkbZ ds fofu;eksa ds vuqlkj dh xbZ gSA Hkkjr esa lfØ; :i ls dkjksckj fd, x, bfDoVh 'ks;jksa dk ewY; fu/kkZj.k ekpZ eghus esa ,u,lbZ esa O;Dr vafre ewY; ij fd;k x;k gS ftldk p;u izeq[k ,Dlpsat ds rkSj ij fd;k x;k gS vkSj ;fn ,slh izfrHkwfr izeq[k ,Dlpsat esa lwphc) ugha gS@dkjksckj ugha fd;k tkrk gS] rks bldk ewY;&fu/kkZj.k ekpZ eghus esa ch,lbZ esa O;Dr vafre ewY; ij fd;k x;k gS ftldk p;u f}rh;d ,Dlpsat ds rkSj ij fd;k x;k gSA

11- iksVZQksfy;ks dh n`f"V ls ifjlEifRr;ksa dh xq.koRrk vkSj fuos'k ds fu"iknu dh leh{kk fuEukuqlkj dh xbZ gS%


iksVZQksfy;ksPortfolio

fuos'kdjksM+ #i, esa

investments Rs. in Crores

dqy fuos'k dk %% to total

investments

vtZu %foRr o"kZ 2014-15

Yield %FY 2014-15

vtZu %foRr o"kZ 2013-

14Yield %

FY2013-14

ljdkjh izfrHkwfr;kaGovernment Securities

4411.52 35.37 8.64 8.24

ckaM vkSj fMcsapjBonds and Debentures

4195.82 33.64 9.44 9.37

E;wpqvy QaM@m|e fuf/kMutual Funds/Venture Fund

140.49 1.13 0.00 0.00

_.kLoans

81.87 0.66 12.29 16.63

vf/kekU; 'ks;jPreference Shares

9.92 0.08 2.60 2.37

bfDoVh 'ks;jEquity Shares

2186.70 17.53 9.34 9.78

fuf/k cktkj fy[krMoney Market Instruments

1441.03 11.55 10.40 9.15

vYikof/k _.kShort Term Loans

6.20 0.05 0.00 0.00

_.kksa@'ks;jksa ds fy, vkosnu 'kqYdApplication Money for debts/shares

0.00 0.00 0.00 0.00

dqyTotal

12473.55 100.00 9.12 8.92

iksVZQksfy;ksPortfolio


Yield %FY 2012-13


Yield %FY 2011-12

vtZu %foRr o"kZ 2010-

11Yield %

FY 2010-11ljdkjh izfrHkwfr;kaGovernment Securities

8.28 8.32 8.28

ckaM vkSj fMcsapjBonds and Debentures

9.17 9.26 8.68

E;wpqvy QaM@m|e fuf/kMutual Funds/Venture Fund

0.00 0.00 0.00

_.kLoans

12.69 22.55 11.53

vf/kekU; 'ks;jPreference Shares

2.24 2.27 1.36

bfDoVh 'ks;jEquity Shares

9.29 10.47 11.80

fuf/k cktkj fy[krMoney Market Instruments

11.17 9.87 7.65



271

vYikof/k _.kShort Term Loans

0.00 0.00 0.00

_.kksa@'ks;jksa ds fy, vkosnu 'kqYdApplication Money for debts/shares

0.00 0.00 0.00

dqyTotal

8.95 9.24 8.95

mfpr ewY; cnysa [kkrs esa bfDoVh&E;qpqvy QaM esa ugha ekuk tkrk gSAFair Value Change Account is not considered in Equity/Mutual Funds.

12 funs'kdksa dh fjiksVZ ^^ftEesnkjh oäO; funs'kdksa ds fgLls ds :i esa çLrqr fd;k x;k gS**A12 The Directors" Responsibility Statement has been furnished as part of Directors" Report.

13 vko';d tkudkjh ugha ds cjkcj gSA13 The required information is Nil.

MkW- ,-ds- lDlsuk v/;{k ,oa izca/ku funs'kd dr. a.K. saxena Chairman-cum-Managing Director

,u- Jhfuokl jko lqtk; cuthZ dqynhi flagfuns'kd funs'kd funs'kdn. srinivasa Rao sujoy Banerji Kuldip singh Director Director Director

ds- jeknsoh jf'e cktis;hfoRrh; lykgdkj ,oa lh,Qvks dEiuh lfpoK.Ramadevi Rashmi BajpaiFinancial Advisor & CFO Company Secretary

LFkku% ubZ fnYyhPlace: new delhi

fnukad% 15-05-201dated: 15.05.2015


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6 fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM31 ekpZ] 2015 dks lekIr o"kZ ds fy, izkfIr ,oa Hkqxrku ys[kk (vFkkZr~ udn izokg fooj.kh)

31-03-2015 dks lekIr o"kZ (^000^ #i, esa)

31-03-2014 dks lekIr o"kZ(^000^ #i, esa)

d izpkyfud xfrfof/k;ksa ls udn izokg1- ikWfylh/kkjdksa ls izkIr izhfe;e] vfxze izkfIr;ksa lfgr 79947241 769977992- vU; izkfIr;ka (fuoy) 5543652 57803943- iquchZekdrkZvksa dks Hkqxrku] deh'kuksa vkSj nkoksa ls fuoy -3822448 -26596704- lgchekdrkZvksa dks Hkqxrku] nkokas dh olwyh ls fuoy -1210782 -119860325- nkoksa dk Hkqxrku -58607119 -546528626- deh'ku vkSj czksdjst dk Hkqxrku -5105835 -53775847- vU; izpkyfud [kpksZa dk Hkqxrku -20459697 -155385168- izkjafHkd vkSj izpkyu&iwoZ [kpsZ 0 09- tek jkf'k;ka] vfxze vkSj deZpkjh _.k -254016 57892010- pqdrk vk; dj (fuoy) -3190975 -220459611- ,df=r@pqdrk lsok dj (fuoy) 829052 114101812- vU; Hkqxrku (fuoy) 0 013- vlk/kkj.k enksa ls iwoZ udn izokg -6330917 -792112914- vlk/kkj.k izpkyuksa ls udn izokg 0 015- izpkyfud xfrfof/k;ksa ls fuoy udn izokg -6330917 -7921129

[k fuos'k xfrfof/k;ksa ls udn izokg1- LFkk;h ifjlEifRr;ksa dh [kjhn (fuoy) -483537 -5654952- LFkk;h ifjlEifRr;ksa dh fcØh ls vkxe 29777 466993- fuos'kksa dh [kjhn -82121405 -130059694- forfjr _.k 0 05- fuos'kksa dh fcØh 11175154 109845966- izkIr iqu%Hkqxrku 70647222 30373437- izkIr fdjk;s@C;kt@ykHkka'k 10387854 105303898- /ku cktkj fy[krksa vkSj udn E;qpqvy fuf/k;ksa esa fuos'k (fuoy) 0 -4589009- fuos'kksa ls lacaf/kr [kpsZ -40369 -3255110- fuos'k xfrfof/k;ksa ls fuoy udn izokg 9594696 11236312

x foRrh; xfrfof/k;ksa ls udn izokg1- 'ks;j iwath ds fuxZe ls vkxe 0 02- m/kkj jkf'k ls vkxe 0 03- m/kkj jkf'k dh pqdkSrh 0 04- pqdrk C;kt@ykHkka'k (forj.k dj lfgr) -1263546 -12460005- foRrh; xfrfof/k;ksa ls fuoy udn izokg -1263546 -1246000

?k udn vkSj udn lerqY;ksa ij fons'kh eqnzk dk izHkko(fuoy) -147 105824

M- udn vkSj udn lerqY;ksa esa fuoy o`f)(+)@deh(-) 2000086 21750071- o"kZ ds izkjaHk esa udn vkSj udn lerqY; 22269889 200948822- o"kZ ds var esa udn vkSj udn lerqY; 24269975 22269889

fVIif.k;ka% 1- vkd`fr (+)var% izokg dks vkSj vkd`fr (-) cfgizZokg dks n'kkZrh gSaA

2- bjsMk ds fnukad 01-04-2013 ls ykxw fnukad 05-10-2012 ds ekLVj ifji= ds n`f"Vxr xr o"kZ ds vkadM+ksa dks vko';drkuqlkj iqu%lewgc) fd;k x;k gSA

gekjh layXu ys[kk ijh{kd fjiksVZ ds vuqlkj

d`rs dsih,evkj ,aM ,lksfl,V~lpkVZMZ ,dkmaVsaV,Qvkj,u la- 02504N

d`rs ,l-eku ,aM daiuhpkVZMZ ,dkmaVsaV,Qvkj,u la-000075N

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LFkku% ubZ fnYyhfnukad% 15-05-2015




277

fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMrqyu i= ds m)j.k vkSj dEiuh dh lkekU; :ijs[kk

the oRiental insURanCe CoMPanY liMitedBalanCe sheet aBstRaCt and CoMPanY’s geneRal PRoFile

i. iathdj.k dk C;kSjki. RegistRation detailsiathdj.k la[;kRegistration Number 00556 State Code 55rqyu i= dh rkjh[kBalance Sheet Date 31.03.2015

ii. o"kZ ds nkSjku tqVkbZ xbZ iwath ¼jkf'k gtkj #i, esa½ii. CaPital Raised dURing the YeaR(aMoUnt in Rs. thoUsands)lkoZtfud fuxZe lgh eqn~nk 'kwU; 'kwU;Public Issue NIL Right Issue NILcksul fuxZe 'kwU; izkbZosV IyslesaV 'kwU;Bonus Issue NIL Private Placement NIL

iii. fuf/k;ksa ds lapyu vkSj fu;kstuk dh fLFkfr ¼jkf'k gtkj #i, esa½iii. Position oF MoBilisation and dePloYMent oF FUnds (aMoUnt in RUPees thoUsands)dqy nsunkfj;ka dqy lifÙk;k¡Total Liabilities 129109725 Total Assets 129109725fuf/k;ksa ds lzksrSource of FundsiznRr iwath fjtoZ vkSj vf/k'ks"kPaid up Capital 2000000 Reserve & Surplus pkyw nsunkfj;ka vkSj fLFkfr vkSj mfpr ewY; cnysaCurrent Liabilities & Provision 133738917 and Fair Value Change 127109725

fuf/k;ksa dh iz;ksT;rkapplication of Fundsfuoy LFkk;h ifjlEifRr;ka fuos'kNet Fixed Assets 1580295 Investments 208490369fuoy pkyw ifjlEifRr;ka fofo/k [kpZNet Current Assets 52777978 Misc. Expenditure 0lafpr gkfu;kaAccumulated Losses Nil


iv. dEiuh dk fu"iknu ¼jkf'k gtkj #i, esa½iv. PeRFoRManCe oF CoMPanY ( aMoUnt in Rs. thoUsands)VuZvksoj dqy [kpZTurnover 64723871 Total Expenditure 79572970dj iwoZ ykHk@gkfu dj i'pkr ykHk@gkfuProfit/Loss before Tax 6173373 Profit/Loss after Tax 3920952 ykHkka'kDividend 1100000

v. dEiuh ds rhu izeq[k mRiknksa@lsokvksa ds lkekU; ¼tsufjd½ uke ¼ekSfnzd 'kCnkoyh ds vuqlkj½v. geneRiC naMes oF thRee PRinCiPal PRodUCts/seRviCes oF Co. (as PeR MonetaRY teRMs)en dksM la[;k 'kwU;Items Code No. NILmRikn dk fooj.k xSj&thou chek dkjksckjProduct Description Non Life Insurance Business LFkku% ubZ fnYyhPlace: New Delhifnukad% 15.05.2015dated: 15.05.2015 Mk- ,-ds- lDlsuk


dr. a. K. saxena(Chairman cum managing Director)

,u- Jhfuokl jkon.sRinivasa Rao

dqynhi flagKUldiP singh

lqt; cuthZ

sUJaY BanaRJi¼funs'kd½

(Directors)



279

lesfdr

foRrh;

foojf.kdkConsolidated

FinanCial stateMents


fnukad 31ekpZ] 2015 dks lekIr o"kZ ds fy, fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa ij dEiuh vf/kfu;e] 2013 dh /kkjk 129 ¼4½ ds lkFk ifBr /kkjk 143 ¼6½ ¼[k½ ds varxZr Hkkjr ds fu;a=d ,oa egkys[kk ijh{kd dh fVIif.k;kafofu;ked ,oa fodkl izkf/kdj.k ¼chek dEifu;ksa dh foRrh; foojf.kdk vkSj ys[kk ijh{kd ds izfrosnu dh rS;kjh½ fofu;ekoyh] 2002 vkSj dEiuh vf/kfu;e] 2013 ds lkFk ifBr chek vf/kfu;e] 1938 ds v/khu fu/kkZfjr fd, x, foRrh; izfrosnu izk:i ds vuqlkj fnukad 31ekpZ] 2015 dks lekIr o"kZ ds fy, fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa dks rS;kj djuk dEiuh ds izca/ku dk nkf;Ro gSA vf/kfu;e dh /kkjk 129¼4½ ds lkFk ifBr /kkjk 139¼5½ ds v/khu Hkkjr ds fu;a=d ,oa egkys[kkijh{kd }kjk fu;qDr lkafof/kd ys[kk ijh{kd vf/kfu;e dh /kkjk 143¼10½ ds v/khu fu/kkZfjr ys[kk ijh{k.k ij ekudksa ds vuqlkj Lora= ys[kk ijh{kk ds vk/kkj ij vf/kfu;e dh /kkjk 129¼4½ ds lkFk ifBr 143 ds varxZr foRrh; foojf.kdkvksa ij er O;Dr djus ds fy, mRrjnk;h gSaA ;g dk;Z muds }kjk fnukad 15 ebZ 2015 ds ys[kk ijh{kk izfrosnu ds }kjk fd;k x;k gSA

eSaus] Hkkjr ds fu;a=d ,oa egkys[kkijh{kd dh vksj ls] vf/kfu;e dh /kkjk 129¼4½ ds lkFk ifBr 143¼6½¼d½ ds varxZr fnukad 31ekpZ] 2015 dks lekIr o"kZ ds fy, fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa dh vuqiwjd ys[kkijh{kk dh gSA geus fnukad 31ekpZ] 2015 dks lekIr o"kZ ds fy, fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa dh vuqiwjd ys[kkijh{kk dh gS] fdarq ml rkjh[k dk lekIr o"kZ ds fy, fn baMfLVª;y ØsfMV dEiuh fyfeVsM vkSj gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsM dh foRrh; foojf.kdkvksa dh vuqiwjd ys[kk ijh{kk ugha dh gSA ;g vuqiwjd ys[kk ijh{kk lkafof/kd ys[kk ijh{kd ds dk;Z'khy nLrkostksa rd igqWap ds fcuk Lora= :i ls dh xbZ gS vkSj ;g eq[;r% lkafof/kd ys[kk ijh{kdksa vkSj dEiuh dkfeZdksa dh tkapksa vkSj dqN ys[kkdj.k vfHkys[kksa dh pquh gqbZ tkap rd lhfer gSA

viuh ys[kk ijh{kk ds vk/kkj ij] esjh tkudkjh esa ,slk dqN mYys[kuh; ugha vk;k gS ftlls lkafof/kd ys[kk ijh{kdksa ds izfrosnu ij ;k blds vuqiwj.k essa dksbZ fVIi.kh mRiUu gksrh gksA

d`rs vkSj Hkkjr ds fu;a=d ,oa egkys[kkijh{kd dh vksj ls

¼lqi.kkZ nso½iz/kku okf.kfT;d ys[kkijh{kk funs'kd

,oa insu lnL;] ys[kk ijh{kk cksMZ&AAubZ fnYYkh

LFkku% ubZ fnYyhrkjh[k% 15-07-2015



281


fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMiathdj.k la[;k 556 fnukad 25-02-201431 ekpZ 2015 dks lekIr o"kZ ds fy, lafpr ykHk gkfu ys[kk the oRiental insURanCe CoMPanY liMitedRegistRation no. 556 dated 25.02.2014Consolidated PRoFit & loss aCCoUnt FoR the YeaR ended 31st MaRCh 2015

(` in '000')

Ø- la-s. no.

fooj.kParticulars

31-03-15 dks lekIr o"kZ

Year ended 31.03.15


Year ended 31.03.14

1 izpkyfud ykHk@¼gkfu½oPeRating PRoFit /(loss)¼d½ vfXu chek(a) Fire Insurance

(248236) (208531)

¼[k½ ejhu chek(b) Marine Insurance

1171286 690470

¼x½ fofo/k chek(c) Miscellaneous Insurance

(4737) 1559671

2 fuos'kksa ls vk;inCoMe FRoM investMents¼d½ C;kt] ykHkka'k vkSj fdjk;k - ldy(a) Interest, Dividend & Rent - Gross

2599542 2291116

¼[k½ fuos'k dh fcØh@'kks/ku ij ykHk(b) Profit on sale/redemption of investment

2038418 1968962

?kVk,a% fuos'k dh fcØh@'kks/ku ij gkfuLess: Loss on sale/redemption of investment

0 0

3 vU; vk;otheR inCoMe LFkk;h ifjlEifRr;ksa dh fcØh ij ykHk@¼gkfu½Profit/(Loss) on sale of fixed assets

(3276) 9965

fofo/k vk;Miscellaneous Income

66244 27943

izfrysf[kr iqjkuk@csnkok 'ks"kOld/Unclaimed Balance Written Back

68180 45443

eqnzk ykHk@¼gkfu½Exchange Gain/(Loss)

(161625) 148381

vk; dj fjQaaM ij C;ktInterest on income-tax refunds

226050 292790

dqy ¼d½TOTAL (A)

5751846 6826210

4 izko/kku ¼djk/kku ls fHkUu½PRovisions (other than taxation)



283

¼d½ fuos'kksa ds ewY; esa gkzkl ds fy,(a) For diminution in the value of investments

(5099) 14390

¼[k½ v'kks/; vkSj lafnX/k _.kksa@fuos'k ds fy,(b) For bad and doubtful debts\Investment

(606723) 148386

¼x½ _.k'kks/ku [kpZs(c) Amortisation Expenses

25078 23599

?k½ cV~Vs [kkrs Mkys x, iqjkus@v'kks/; 'ks"k d)Old/Irrecoverable balances written off

406 1016

M+½ ekud ifjlEifRr;ksa@,uih, ij izko/kku e) Provision on Standard Assets/NPA

(8191) 2507

p½ cV~Vs [kkrs Mkys x, fuos'k ¼fuoy½f ) Investments written off (Net)

28654 29028

N½ lh,lvkj O;;g) CSR Expendiure

79200 0

t½ iznRr vk;dj ij C;kth) Interest on income-tax paid

65148 0

dqy ¼[k½TOTAL (B)

(421527) 218926

dj iwoZ ykHkProfit Before Tax

6173373 6607284

dj iwoZ ykHk & vkbZlhlh,yProfit Before Tax - ICCL

(7) (22)

dj iwoZ ykHk &,pvkbZVhih,Profit Before Tax - HITPA

(12322) (12145)

tksM+sa@¼?kVk,a½% iwokZof/k vk;Add/(Less): Prior Period Income

1208 2948

tksM+sa@¼?kVk,a½% iwokZof/k [kpsZAdd/(Less): Prior Period Expenses

28926 (72127)

tksM+sa@¼?kVk,a¢½ vuq"kaxh ykHk dj ds fy, izko/kkuAdd/(Less): Provision for Fringe Benefit Tax

0 0

tksM+sa@¼?kVk,a½% djk/kku ds fy, izko/kku & pkyw o"kZ

Add/(Less): Provision for taxation - Current Year

(2282028) (1998005)

tksM+sa@¼?kVk,a½% vkLFkfxr dj ds fy, izko/kkuAdd/(Less): Provision for Deferred Taxation

0 0

tksM+sa@¼?kVk,a½% iwoZorhZ o"kksZa esa dj ds fy, izko/kkuAdd/(Less):Provision for tax in respect of earlier years

(527) 62774


3908623 4590706

fofu;kstuAPPROPRIATIONS

0

¼d½ o"kZ ds izkjaHk esa 'ks"k(a) Balance at the beginning of the year

0 0


¼[k½ o"kZ ds nkSjku iznRr varfje ykHkka'k(b) Interim dividends paid during the year

0 0

¼x½ izLrkfor vafre ykHkka'k(c) Proposed final dividend

(1100000) (1080000)

¼?k½ ykHkka'k forj.k dj(d) Dividend distribution tax

(219972) (183546)

¼M+½ vkjf{kfr;ksa@vU; [kkrksa esa varj.k(e) Transfer to reserves/ other accounts:

0

(i) lkekU; vkjf{kfr(i) General Reserves

2588651 3327160

(ii) vlekIr tksf[keksa ds fy, vkdfLed vkjf{kfr(ii) Contingency Reserve for Unexpired RisksfiNys o"kZ ls vkxs yk, x, ykHk@gkfu dk 'ks"kBalance of profit/loss brought forward from last year

0

rqyu i= esa vkxs ys tk;k x;k 'ks"kBalance carried forward to Balance Sheet

0 0

ewy@fojfyr vk; izfr 'ks;j ¼bZih,l½ #i, esaBasic/Diluted Earning Per Share (EPS) in Rs.

19.54 30.60

mYys[kuh; ys[kkdj.k uhfr;ka vkSj ys[kkvksa ij fVIif.k;ka - vuqlwph 16Significant Accounting Policies and Notes to Accounts - Schedule 16mij lanfHkZr vuqlwfp;ka rqyu i= dk vfHkUu vax gSaThe Schedules referred to above form integral part of the Balance Sheet
















285

chekdrkZ dk uke% fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMiathdj.k la[;k 556 fnukad 25-02-2014 31 ekpZ 2015 ds vuqlkj lesfdr rqyu i=naMe oF insUReR: the oRiental insURanCe CoMPanY liMitedRegistRation no. 556 dated 25.02.2014Consolidated BalanCe sheet as at 31st MaRCh 2015

(` in '000')

fooj.kPaRtiCUlaRs

vuqlwphnotes

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014fuf/k;ksa ds lzksrSOURCES OF FUNDS'ks;j iwathSHARE CAPITAL

2000000 1500000

vkjf{kfr;ka vkSj vf/k'ks"kRESERVES AND SURPLUS

1 29793221 27704570

vkLFkfxr dj ns;rkDeferred Tax Liability

0 0

mfpr ewY; ifjorZu ys[kkFAIR VALUE CHANGE ACCOUNT

97291378 85701136

m/kkjBORROWINGS

0

dqytotal

129084599 114905706

fuf/k;ksa dk vuqiz;ksxAPPLICATION OF FUNDSfuos'kINVESTMENTS

2 206546242 187646378

_.kLOANS

1896127 2044084

LFkk;h ifjlEifRr;kaFIXED ASSETS

3 957277 898707

pkyw iwathxr dk;ZCapital Work In Progress

623563 403996

vkLFkfxr dj ifjlEifRr;kaDeferred Tax Assets

0 0

pkyw ifjlEifRr;ka%CURRENT ASSETS:udn o cSad 'ks"kCash and Bank Balances

4 24294126 22281050

vfxze vkSj vU; ifjlEifRr;kaAdvances and Other Assets

5 28509564 25794839

mi&;ksx ¼d½Sub-Total (A)

52803690 48075889


pkyw ns;rk,aCURRENT LIABILITIES

6 88121785 81529710

izko/kkuPROVISIONS

7 45620515 42930773

mi&;ksx ¼[k½sub-total (B)

133742300 124460483

fuoy pkyw ifjlEifRr;ka = ¼d&[k½NET CURRENT ASSETS = (A-B)

(80938610) (76384594)

fofo/k O;;MISCELLANEOUS EXPENDITURE ¼cV~Vs [kkrs u Mkys tkus ;k lek;ksftr u fd, tkus dh lhek rd½(to the extent not written off or adjusted)

297135

ykHk gkfu [kkrs esa ukes 'ks"kDEBIT BALANCE IN PROFIT AND LOSS ACCOUNT

0

dqytotal

129084599 114905706















287

notes: 1 aCCoMPanYing notes to the FinanCial stateMents:i. significant accounting policiesa. Basis of preparation of Financial statements:

These Financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis, except for certain tangible assets which are being carried at revalued amounts. Pursuant to section 133 of the Companies Act, 2013 read with rule 7 of hte Companies (Accounts) Rules, 2014, till the standard of accounting or any addendum thereto are prescribed by Central government in consultation and recommendation of the National Financial Reporting Authority, the existting accounting standards nofified order the Comapnies Act, 1956 shall contiune to apply.

Consequently, these financial statements have been prepared to comply in all material aspects with the accounting standards nofified under Section 211(3C) [Companie (Accounting Standards) Rules, 2006, as amended] and the other relevant provisions of the Companies Act, 2013.

All assest and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and other crieria set out in the Schedule III to the Comapnies Act, 2013. Based on the nautre of products and hte time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Comapny has ascertained its operating cycle as 12 months for th purpose of current-non-current classification of assets and liabilities.

B. Revenue Recognition: Interest on term deposit is recognised on the

accural basis and certain to received.

c. taxation:a) Current Tax

Provision for current tax is made on the

fVIif.k;ka% 1 foRrh; fooj.kksa ds lkFk layXu fVIif.k;ka%

i. egRoiw.kZ ys[kkdj.k uhfr;kad- foRrh; fooj.kksa dks rS;kj djus dk vk/kkj%

;s foRrh; fooj.k izkfIr vk/kkj ij ,sfrgkfld ykxr vfHkle; ds v/khu Hkkjr esa lkekU; rkSj ij Lohd`r fl)karksa ds vuqlkj rS;kj fd, tkrs gSa] ,slh dfri; ewrZ ifjlaifRr;ksa dks NksM+dj] ftUgsas fooj.k iqu%ewY;kafdr vys[kksa ij rS;kj fd, tk jgs gSaA daiuh vf/kfu;e ¼ys[kk½ fu;e] 2014 ds fu;e 7 ds lkFk iBuh; daiuh vf/kfu;e] 2013 dh /kkjk 133 ds vuqlj.k esa] dsanzh; ljdkj }kjk jk"Vªh; foRrh; lwpuk izkf/kdj.k ds ijke'kZ vkSj flQkfj'kksa ij dksbZ ifjf'k"V ;k ys[kk ekud fu/kkZfjr fd, tkus rd] daiuh vf/kfu;e] 1956 ds v/khu vf/klwfpr ekStwnk ys[kk ekud ykxw gksrs jgsaxsA

ifj.kkeLo:i] ;s foRrh; fooj.k daiuh vf/kfu;e] 2013 dh /kkjk 211¼3x½ ¼daiuh ¼ys[kkdj.k ekud½ fu;e] 2006] ;Fkk la'kksf/kr] rFkk vU; lacaf/kr izko/kkuksa ds v/khu vf/klwfpr ys[kkdj.k ekudksa dk lHkh egRoiw.kZ igyqvksa dh n`f"V ls vuqikyu djus ds fy, rS;kj fd, x, gSaA

lHkh ifjlaifRr;ksa vkSj ns;rkvksa dks daiuh ds lkekU; izpkyu pØ vkSj daiuh vf/kfu;e] 2013 dh vuqlwph III

esa fu/kkZfjr vU; ekinaMksa ds vuqlkj pkyw ;k xSj&pkyw ds :i esa oxhZd`r fd;k x;k gSA mRiknksa ds izd`fr vkSj mUgsa lalkf/kr djds udn vkSj udn lerqY; ds :i esa udnhdj.k fd;k tkus ds fy, buds vf/kxzg.k ds chp vof/k ds vk/kkj ij] daiuh us ifjlaifRr;ksa vkSj ns;rkvksa ds pkyw&xSj&pkyw esa oxhZdj.k ds mn~ns'; ds fy, viuk izpkyu pØ 12 eghus ds :i esa fuf'pr fd;k gSA

[k- jktLo dh Lohd`fr% Lkkof/k tek ij C;kt dks izkfIr vk/kkj ij Lohd`fr nh

xbZ gS vkSj bUgsa izkIr fd;k tkuk fuf'pr gSA

x- djk/kku%d½ pkyw dj pkyw dj ds fy, izko/kku vk; dj vf/kfu;e]

1961 ds v/khu vuqes; ykHkksa dks /;ku eas j[krs gq, vuqekfur dj ns;rk ds vk/kkj ij fd;k x;k gSA


basis of the estimated tax liability after considering benefits admissible under Income Tax Act, 1961

b) Deferred Taxes

In accordance with Accounting Standard 22 - Accounting for Taxes on Income, issued by The institute of Chartered Accountants of India, the deferred tax for timing differences between the book and tax profits for the year is accounted by using the tax rates and laws that have been enacted or substantially enacted as of hte balance sheet date.

Deferred Tax Assests arising from temporary timing differences are recognized to the extent there is reasoanable certaintly that the assests can be realized in future.

d. Provision, Contingent liabilites and Contin-gent assetsProvisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and are probable that there will be an outflow of resources.

e. earning Per shareThe earning considered in ascertaining the Company EPS comprises the net profit after tax (and include the post-tax effect of any extra items) attributable ot equity shareholders. The number of shares used in computing Basic EPS is the weighted average number of shares outstanding during the year. The dilluted EPS is calculated on the same as basic EPS, after adjusting for the effect of potential dillutive equity shares.

ii. notes to accounta. Contingent Liabilities:

1. Claims against the Company not acknowledged as debts Rs. 91,28,631/- (Previous year Rs. 8727900/-)

Note: An ex-party arbitration award dated May 06, 1999 was passed in favour of M/s Saraswati 1999 (vide original order suit no. 277/71 of ex-

[k½ vkLFkfxr dj Hkkjrh; pkVZMZ ,dkmaVsaV laLFkku }kjk tkjh

ys[kkdj.k ekud 22 & vk; ij djksa ds fy, ys[kkdj.k ds vuqlkj] o"kZ ds fy, cgh vkSj dj ykHkksa ds chp dkykarjksa ds fy, vkLFkfxr dj dk ys[kkdj.k mu dj njksa vkSj fof/k;ksa dk bLrseky djds fd;k tkrk gS ftUgsa rqyui= dh rkjh[k dk vf/kfu;fer ;k oLrqr% vf/kfu;fer fd;k tk pqdk gksA

vLFkk;h dkykarjksa ls mRiUu gksus okyh vkLFkfxr dj ifjlaifRr;ksa dks ml lhek rd Lohd`fr nh tkrh gS tgka rd bl ckr dh vkSfpRiw.kZ fuf'prrk gks fd ifjlaifRr;ksa dk Hkfo"; eas udnhdj.k dj fn;k tk,xkA

?k- izko/kku] vkdfLed ns;rk,a vkSj vkdfLed ifjlaifRr;ka

ftu izko/kkuksa ds ekiu esa mYys[kuh; Lrj rd vuqeku fufgr gks] mUgsa rc Lohd`fr nh tkrh gS tc xr ?kVukvksa ds ifj.kkeLo:i dksbZ orZeku ck/;rk gks vkSj ;g laHkkouk gks fd lalk/kuksa dk cfgizZokg gksxkA

M+- vk; izfr 'ks;j daiuh dh bZih,l ds fy, ftl vk; ij fopkj

fd;k tkrk gS mlesa bfDoVh 'ks;j/kkjdksa dks vfHkns; dj&i'pkr fuoy ykHk 'kkfey gksrk gS ¼vkSj fdlh Hkh vfrfjDr en dk dj&i'pkr izHkko½ 'kkfey gksrk gSA ewy bZih,l dh x.kuk esa iz;qDr 'ks;jksa dh la[;k o"kZ ds nkSjku cdk;k 'ks;jksa dh vkSlr Hkkfjr la[;k gksrh gSA fojfyr bZih,l dh x.kuk] laHkkfor fojyd bfDoVh 'ks;jksa ds lek;kstu ds i'pkr] ewy bZih,l ds leku dh tkrh gSA

ii. ys[kkdj.k ij fVIif.k;kad- vkdfLed ns;rk,a

1- daiuh ds fo#) nkos ftUgsa _.k ugha ekuk x;k #-91]28]631@& ¼xr o"kZ #- 8727900@&½

fVIi.kh% ,d iwoZ ikVhZ e/;LFkrk fu.kZ; fnukad 06 ebZ] 1999 dks eSllZ ljLorh ok".ksZ; ¼lqiq=h LoxhZ; Jherh jek nsoh ok".ksZ;½ ds i{k esa ikfjr fd;k x;k Fkk tks



289

party Late Smt. Rama Devi Varshney) and a decree for Rs. 30,82,541.82 was passed against the Company. An execution case bearing no. 11/2000 has been filed by the decree holder for recovery of the aforesaid amount along with future interest @ 13% p.a. on the awarded amount after March 03, 2000. Further, the company has contested the demand and at present the case is pending before IInd additional Civil Judge, Aligarh.

b. Payment to Auditors

(` in '000')Particulars For the year

endedMarch 31,

2015

For the year ended

March 31, 2014

(i) Audit Fee 12,000* 12,000

*Exclusive of service tax

c. Related Party Transation

Holding Company: The Oriental Insurance Co. Ltd.

(` in '000')Particulars For the

year endedMarch

31, 2015

For the year

endedMarch 31,

20141. Transactions

Loan from Holding Companyexpenses incurred are bone by the holding Company “the Oriental Insurance Co. Ltd.”

38,705 26,296

2. Closing balance 5,82,587 5,43,882

fd 20 vxLr] 1999 dks U;k;ky; dk fu;e ¼iwoZ ikVhZ LoxhZ; jek nsoh ok".ksZ; ds ewy vkns'k eqdnek la[;k 277@71 ds varxZr½ cu x;k vkSj daiuh ds fo#) 30]82]541-82 #i, ds fy, ,d vkf/kdkfjd vkns'k vFkkZr fMØh tkjh fd;k x;k FkkA fMØh /kkjd us 03 ekpZ] 2000 ds i'pkr fu.khZr jkf'k ij 13% okf"kZd dh nj ls Hkkoh C;kt ds lkFk mi;qZDr jkf'k dh olwyh ds fy, ,d fu"iknu ekeyk la[;k 11@2000 nk;j dj fn;kA blds ckn daiuh us bl ekax dk fojks/k fd;k vkSj orZeku le; esa ;g ekeyk f}rh; vfrfjDr nhokuh U;k;k/kh'k] vyhx<+ ds le{k yafcr gSA

(` in '000')

fooj.k 31 ekpZ] 2015 dks lekIr o"kZ

ds fy,

31 ekpZ] 2014 dks lekIr o"kZ

ds fy,(i) ys[kk ijh{kk

'kqYd

12,000* 12,000

*lsok dj dks NksM+dj

x- lacaf/kr i{k laO;ogkj /kkjd daiuh% vksfj,aVy ba';ksjsal daiuh fyfeVsM

(` in '000')

fooj.k 31 ekpZ] 2015 dks

lekIr o"kZ ds fy,

31 ekpZ] 2014 dks

lekIr o"kZ ds fy,

1. laO;ogkj/kkjd daiuh ls _.kfd;s x, O;; /kkjd daiuh vksfj,aVy ba';ksjsal daiuh fyfeVsM }kjk ogu fd, tk,axs

38,705 26,296

2. var 'ks"k; 5,82,587 5,43,882


d. Earning per Share (EPS)

(` in '000')Particulars For the

year endedMarch

31, 2015

For the year

endedMarch 31,

2014Profit/(Loss) for the yrar (A)

(6827) (21,562)

Number of Equity Shares (B)

5000 5000

Profit Per Share (A.B) (1.36) (4.31)

e. The directors have waived the sitting fee for attending the Board Meeting.

f. Interest on outstanding amount fo Rs. 37,973 with the debtor has not been accounted for since the outstanding amount has been classified as doubtful debt.

g. According to the information and explanations given to us, the Company has no amount due to suppliers registered under Micro, Small and Medium Enterprises Dvelopment act, 2005.

h. Previous year’s figure have been regrouped, rearranged and reclassified wherever necessary.

?k- izfr 'ks;j vk; ¼bZih,l½(` in '000')

fooj.k 31 ekpZ] 2015 dks

lekIr o"kZ ds fy,

31 ekpZ] 2014 dks

lekIr o"kZ ds fy,

o"kZ ds fy, ykHk@¼gkfu½ ¼d½

(6827) (21,562)

bfDoVh 'ks;jksa dh la[;k ¼[k½

5000 5000

ykHk izfr 'ks;j ¼d@[k½ (1.36) (4.31)

M+- funs'kdksa }kjk cksMZ dh cSBd esa mifLFkr gksus ds fy, mifLFkfr 'kqYd dk nkok NksM+ fn;k x;k gSA

p- dtZnkj ij 37]973 #i, dh cdk;k jkf'k ij C;kt dk fglkc ugha fn;k x;k gS D;ksafd cdk;k jkf'k dks lafnX/k dtZ ds :i esa oxhZd`r fd;k x;k gSA

N- gesa nh xbZ tkudkjh vkSj Li"Vhdj.kksa ds vuqlkj] dEiuh }kjk lw{e] y?kq ,oa e/;e m|e fodkl vf/kfu;e, 2005 ds varxZr iathd`r vkiwfrZdrkZvksa dks dksbZ jkf'k ns; ugha gSA

t- xr o"kZ ds vkadM+ksa dks vko';drkuqlkj iqu%lewgc)] iqu% O;ofLFkr vkSj iqu%oxhd`r fd;k x;k gSA



291

fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM31 ekpZ 2015 dks lekIr o"kZ ds fy, lesfdr foRrh; foojf.kdkvksa ij fVIif.k;kathe oRiental insURanCe CoMPanY liMitednotes on Consolidated FinanCial stateMents FoR the YeaR ended 31st MaRCh2015

1- vkjf{kfr;ka vkSj vf/k'ks"k1. ReseRves and sURPlUs

(` in '000')

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014dA

fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMTHE ORIENTAL INSURANCE COMPANY LIMITED

1 iwath vkjf{kfrCapital Reserve

2565 2565

2 iwath 'kks/ku vkjf{kfrCapital Redemption Reserve

3 'ks;j izhfe;eShare Premium

4 lkekU; vkjf{kfrGeneral Reserves

29815782 27714802

?kVk,a% ykHk gkfu [kkrs esa ukes 'ks"kLess: Debit Balance in Profit & Loss Account?kVk,a% iqu% Ø; ds fy, iz;qDr jkf'kLess: Amount Utilised for Buy-Back

5 vkink vkjf{kfrCatastrophe Reserve

6 vlekIr tksf[keksa ds fy, vkdfLed vkjf{kfrContingency Reserve for Unexpired Risks

0 0

7 ykHk gkfu [kkrs esa ykHk dk 'ks"kBalance of Profit in Profit & Loss Account

0 0

mi&;ksxSUB - TOTAL

29818347 27717367

B fn baMLVªh;y ØsfMV dEiuh fyfeVsM dh 100% fgLlsnkjh100% Share of THE INDUSTRIAL CREDIT COMPANY LTD.

-659 -652

C gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsM dh 23-75% fgLlsnkjh23.75% Share of HEALTH INSURANCE TPA OF INDIA LTD.

-24467 -12145

dqyTotal

29793221 27704570


2- fuos'k2. investMents

(` in '000')

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014dA

fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM THE ORIENTAL INSURANCE COMPANY LIMITEDnh?kkZof/k fuos'kLong Term Investments

1 ljdkjh izfrHkwfr;ka vkSj ljdkj }kjk xkjaVhd`r ckaM ftlesa jktdks"k fcy Hkh 'kkfey gSaGovernment Securities and Government Guaranteed Bonds including Treasury Bills

42462962 39214858

2 vU; vuqeksfnr izfrHkwfr;kaOther Approved Securitiesd½ ckaM@fMcsapj tgka C;kt dsanzh;@jkT; ljdkjksa }kjk xkjaVhd`r gSa) Bonds/Debentures where interest is guaranteed by Central/State Govt.

17951 233885


0 0


102912793 95232858


74820 69323


0 0


0 0


22895867 17375456


0 0


0 0


0 0



293

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.20144 volajpuk vkSj lkekftd {ks= esa fuos'k

investment in infrastructure & social sectord½ ckaM@fMcsapj tgka C;kt xkjaVhd`r gS a) Bonds/Debentures where interest is guaranteed

0 0


13172198 12760143

x½ bfDoVhc) Equity

14130483 11252584


474869 758188


0 3980

x½ bfDoVhc) Equity

2069601 981263


23769 38353


0 0


500 500


675857 669514



2124101 1796167


Central/State Govt.

19914 0


0 0


Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.20143 vU; fuos'k

other investmentsd½ 'ks;ja) Shares¼dd½ bfDoVh(aa) Equity

0 0


0 0


787135 1360192


0 0


2398206 5207117


0 0


0 0


0 0


0 0


2187590 615733


165000 100000


0 0

x½ bfDoVhc) Equity

0 0


626 514


0 0


0 0



295

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014N½ m|e iwath fuf/kg) Venture Capital Fund

0 0

mi&;ksxSUB - TOTAL

206594242 187670628

[kB

?kVk,a% fn baMLVªh;y ØsfMV dEiuh fyfeVsM dh 100% fgLlsnkjhLess : 100% Share of THE INDUSTRIAL CREDIT COMPANY LTD.

500 500

xC

?kVk,a% gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsM dh 23-75% fgLlsnkjhLess : 23.75% Share of HEALTH INSURANCE TPA OF INDIA LTD.

47500 23750

dqyTotal

206546242 187646378

3- LFkk;h ifjlEifRr;ka vkSj py jgs iwathxr dk;Z3. FiXed assets and CaPital WoRK in PRogRess

(` in '000')

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014dA


As at 31.03.2015 As at 31.03.2014

ewrZ ifjlEifRr;kaTangible Assets

(Rs. '000) (Rs. '000)

iw.kZ LokfeRo okyh HkwfeLand Freehold

1109 1109

iV~Vs ij yh xbZ lEifRrLeasehold Property

21005 29310

iw.kZ LokfeRo okyh lEifRrBuildings(Freehold)

276133 191734

QuhZpj vkSj fQfVaXlFurniture & Fittings

69602 75727

lwpuk izkS|ksfxdh miLdjInformation & Technology Equipment

71690 87812

okguVehicles

372537 336940

dk;kZy; miLdjOffice Equipment

22850 40548

vU;Others

79908 102228

dqy LFkk;h ifjlEifRr;kaTotal Fixed Assets

914834 865408


Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014vewrZ ifjlEifRr;ka ¼lksQ~Vos;j½Intangible Assets (Software)

41899 32597

mi ;ksxSub Total

956733 898005

py jgs iwath dk;ZCapital Work in Progress

623563 403996

dqyTotal

1580296 1302001

[kB

fn baMLVªh;y ØsfMV dEiuh fyfeVsM dh 100% fgLlsnkjh100% Share of THE INDUSTRIAL CREDIT COMPANY LTD.

0 0

xC

gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsM dh 23-75% fgLlsnkjh23.75% Share of HEALTH INSURANCE TPA OF INDIA LTD.

545 702

dqyTotal

1580841 1302703

4- udn vkSj cSad 'ks"k4. Cash and BanK BalanCes

(` in '000')

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014dA


1 1 udn ¼pSdksa] Mªk¶Vksa vkSj LVkEiksa lfgr½Cash (including cheques, drafts and stamps)

890850 1410117

2 cSad 'ks"kBank Balances¼d½ tek [kkrs(a) Deposit Accounts¼dd½ vYikof/kd ¼12 eghus ds Hkhrj ns;½(aa) Short-term (due within 12 months)

18061509 15566941

¼[k[k½ vU;(bb) others

0 0

¼[k½ pkyw [kkrs(b) Current Accounts

5317616 5292831

¼x½ vU;(c) Others

0 0

3 ekax vkSj vYikof/kd lwpuk ij /kujkf'kMoney at Call and Short Notice¼d½ cSadksa ds lkFk(a) With Banks

0 0



297

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014¼[k½ vU; laLFkkuksa ds lkFk (b) With other Institutions

0 0

4 vU;Others

0 0

dqytotal

24269975 22269889

[kB


433 402

xC


23718 10759

dqyTotal

24294126 22281050

5- 31-03-2015 dks vfxze vkSj vU; ifjlEifRr;ka5. advanCes and otheR assets as at 31.03.2015

(` in '000')

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014A fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM

THE ORIENTAL INSURANCE COMPANY LIMITED vfxzeAdvances

1 vH;fiZr dEifu;ksa ds ikl tek jkf'k;kaReserve deposits with ceding companies

157625 190459

2 fuos'kksa ds fy, vkosnu jkf'kApplication money for investments

0 0

3 iwoZ&HkqxrkuPrepayments

42996 4365

4 funs'kdksa@vf/kdkfj;ksa dks vfxzeAdvances to Directors/Officers

467711 455867

5 pqdrk vfxze dj vkSj lzksr ij dj dh dVkSrh ¼djk/kku laca/kh izko/kku dks ?kVkrs gq,½@dj foHkkx ls olwyh ;ksX; jkf'kAdvance tax paid and taxes deducted at source, (Net of Provision for Taxation)/Amount Recoverable from Tax Deptt.

3057626 1849154

6 vU;Others

209055 149068

dqy ¼d½Total (A)

3935013 2648913

1 fuos'kksa ij mifpr vk;Income accrued on investments

3829027 3344607


Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.20142 cdk;k izhfe;e

Outstanding Premiums568087 1152690

3 ,tsVksa ds 'ks"kAgents' Balances

0 0

4 fons'kh ,tsafl;ksa ds 'ks"kForeign Agencies' Balances

153588 138898

5 chek dkjksckj djus okys vU; fudk;ksa ¼iquchZekdrkZvksa lfgr½ ls ns;Due from other entities carrying on insurance business (including reinsurers)

15451938 14106902

6 vuq"kaxh dEifu;ksa@/kkjd dEiuh ls ns;Due from subsidiaries/holding company

583 544

7 Hkkjrh; fjtoZ cSad esa tek jkf'k] [chek vf/kfu;e, 1938 dh /kkjk 7 ds vuqlj.k esa]*Deposit with Reserve Bank of India, [Pursuant to section 7 of Insurance Act, 1938]*

171107 171192

8 vU; #Others #

4398660 4231204

dqy ¼[k½Total (B)

24572990 23146037

dqy ¼d+[k½TOTAL ( A + B )

28508003 25794950

[kB

fn baMLVzh;y ØsfMV dEiuh fyfeVsM dh 100% fgLlsnkjh100% Share of THE INDUSTRIAL CREDIT COMPANY LTD.

9 3

xC


1552 430

dqyTotal

28509564 25795383



299

6- 31-03-2015 dks pkyw ns;rk,6. CURRent liaBilities as at 31.03.2015

(` in '000')

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014dA


1 ,tsVksa ds 'ks"k ¼fuoy½Agents Balances (Net)

362390 319251

2 vU; chek dEifu;ksa dks ns; 'ks"kBalances due to other insurance companies

205343 79321

3 vH;fiZr iquchZek ij /kkfjr tek jkf'k;kaDeposits held on reinsurance ceded

1155668 460846

4 vfxze :i ls izkIr izhfe;ePremium received in advance

1612940 831667

5 vukoafVr izhfe;eUnallocated Premium

0 0

6 NksVs ysunkj #Sundry Creditors #

11095926 8256464

7 vu"kaxh dEifu;ksa@/kkjd dEiuh dks ns;Due to subsidiaries/holding company

0 0

8 cdk;k nkosClaims Outstanding

72646137 70829480

9 vf/kdkfj;ksa@funs'kdksa dks ns;Due to Officers / Directors

0 0

10 ikWfylh/kkjdksa dks ns;Due to Policy Holders

496969 471962

11 ubZ isa'ku ;kstuk ij ns;rkLiability on New Pension Scheme

320050 202615

12 vU;Others

224173 76712

dqyTotal

88119596 81528318

[kB


601 13

xC


1588 1379

dqyTotal

88121785 81529710


7- 31-03-2015 dks izko/kku7. Provisions as at 31.03.2015

(` in '000')

Ø- la- sl. no.

fooj.kPaRtiCUlaRs

31-03-15 dksas at

31.03.2015

31-03-14 dksas at

31.03.2014dA


1 vlekIr tksf[ke ds fy, vkjf{kfrReserve for Unexpired Risk

32751739 32279521

2 djk/kku ds fy, ¼pqdrk vfxze dj vkSj lzksr ij dj dks ?kVkrs gq,½For taxation (less advance tax paid and tax deducted at source)

0 0

3 izLrkfor ykHkka'kksa ds fy,For proposed dividends

1100000 1080000

4 ykHkka'k forj.k dj ds fy,For dividend distribution tax

219982 183546

5 vU;Others ¼d½ NqV~Vh udnhdj.k@,yVhlh@chekjh vodk'k gsrq izko/kku(a) Provision for Leave Encashment/ LTS/Sick Leave

5375075 4893859

¼[k½ ifjyfC/k la'kks/ku ds fy, izko/kku(b) Provision for Wage revision

3814306 1464306

¼x½ v'kks/; vkSj lafnX/k _.kksa ds fy, izko/kku(c) Provision for Bad & Doubtful Debts

2032364 2693115

¼?k½ ekud ifjlEifRr;ksa ds fy, izko/kku(d) Provision for Standard Assets

166561 149632

¼M+½ 'ks;jksa ds ewY; esa gzkl ds fy, izko/kku(e) Provision for Diminution in Value of Shares

159294 182388

¼p½ C;kt mpar(f ) Interest Suspense

0 4406

6 izhfe;e esa deh ds fy, vkjf{kfrReserve for Premium Deficiency

0 0

dqyTotal

45619321 42930773

[kB


0 0

xC


1194 0

dqyTotal

45620515 42930773



301

B. notes forming part of accountsdisclosures of particulars as required by iRdai.

sl. no.

Particulars as at 31.03.2015

as at 31.03.2014

1. Contingent Liabilities

Rs. In lacs Rs. In lacs

a. Partly Paid Investments

2292.67 1912.69

b Underwriting Commitment Outstanding

NIL NIL

c Claims, other than those under policies, not acknowledged as Debt

175.15 153.40

d Guarantee given by or on behalf of the Company

NIL NIL

e Statutory demands/ liabilities, in dispute, not provided for

5671.12# 35554.48*

f Reinsurance obligations to the extent not provided for in Accounts

NIL NIL

g Others 118.01 132.15

• *Rs.35554.48lacscomprisesofRs.17388.50lacsand Rs. 18128.94 lacs, being Penalty (for the AYs 2005-06 and 2004-05 respectively) imposed by Income Tax Authorities in New Delhi ,Rs.4.90 lacs being interest on Service tax 2007-08 levied by Service tax Authority in Jammu, Rs.23.14 lacs towards TDS on MACT interest levied by Income tax Authorities in Hyderabad and Rs.9 lacs towards case filed by ex-employee in the High Court,Hyderabad (2013-14).

• # Rs.5671.12 lacs comprises of Rs.5628.48 lacsand Rs.5.60 lacs,being Penalty (for A.Ys 2005-06 and 2010-11 respectively) imposed by Income Tax Authorities in New Delhi, Rs.4.90 lacs being interest on Service tax 2007-08 levied by

c- vkbZvkjMh,vkbZ }kjk ;Fkksisf{kr fooj.kksa ds ys[kksa ds izdVhdj.k ds Hkkx dks cukrh gqbZ fVIif.k;ka

Ø- la-

fooj.k 31-03-15 dks 31-03-14 dks

1. vkdfLed nsunkfj;ka Rs. In lacs Rs. In lacs

d va'kr% pqdrk fuos'k 2292.67 1912.69

[k cdk;k tksf[ke vadu izfrc)rk

'kwU; 'kwU;

x ikWfyfl;ksa ls brj vU; nkos] ftUgsa _.k ugha ekuk x;k

175.15 153.40

?k dEiuh }kjk ;k bldh vksj ls nh xbZ xkjaVh

'kwU; 'kwU;

M+ fooknkLin lkafof/kd ekaxsa@nsunkfj;ka] ftuds fy, izko/kku ugha fd;k x;k gSA

5671.12# 35554.48*

p ml lhek rd iquchZek nkf;Ro ftlds fy, ys[kkvksa esa izko/kku ugha fd;k x;kA

'kwU; 'kwU;

N vU; 118.01 132.15

• *35554-48 yk[k #i, esa ubZ fnYYkh esa vk;dj izkf/kdkfj;ksa }kjk naM ds :i esa yxk, x, 17388-50 yk[k #i, vkSj 18128-94 yk[k #i, ¼Øe'k% vkdyu o"kZ 2005&06 vkSj 2004&05 ds fy,½ tEew esa lsok dj izkf/kdj.k }kjk lsok dj ds fy, olwys x, C;kt ds 4-90 yk[k #i,] gSnjkckn esa vk;dj izkf/kdkfj;ksa }kjk ,e,lhVh C;kt ij VhMh,l ds fy, olwys x, 23-14 yk[k #i, vkSj mPp U;k;ky;] gSnjkckn esa iwoZ deZpkjh }kjk nk;j eqdnesa ¼2013&14½ ds fy, 9 yk[k #i, 'kkfey gSaA

• # 5671-12 yk[k #i, esa ubZ fnYyh esa vk;dj izkf/kdkfj;ksa }kjk naM ds :i esa yxk, x, 5628-48 yk[k #i, vkSj 5-60 yk[k #i, ¼Øe'k% vkdyu o"kZ 2005&06 vkSj 2004&05 ds fy,½ tEew esa lsok dj izkf/kdj.k }kjk lsok dj ds fy, olwys x, C;kt ds 4-90 yk[k #i,] gSnjkckn


Service tax Authority in Jammu, Rs.23.14 lacs towards TDS on MACT interest levied by Income tax Authorities in Hyderabad and Rs.9 lacs towards case filed by ex-employee in the High Court,Hyderabad (2013-14).

2. encumbrances to assets of the Company in and outside india

as at 31.03.2015

as at 31.03.2014

a. Bank Accounts frozen as per Court Orders


b. Deposits held under Environment Relief fund on behalf of the Government

NIL

NIL

3. Commitments made and outstanding for

loans, investments and Fixed assets(Rs. in lacs)

as at 31.03.2015

as at 31.03.2014

a. Loans 1.80 1.80b. Partly Paid Shares

15.13 15.13

c. Capital Commitments Net of Advances

25388.10 5408.30

4. Claims less Reinsurance, paid to (Rs. in lacs)

as at 31.03.2015

as at 31.03.2014

a. Claimants in India

498875.11 429833.99

b. Claimants outside India

9108.70 18202.85

c. Total 507983.81 448036.84

5. Actuarial assumptions for the determination of claim liabilities in the case of claims where the claim payment period exceed four years.

The Company has not issued any policy where claim payment period exceeds four years.

esa vk;dj izkf/kdkfj;ksa }kjk ,e,lhVh C;kt ij VhMh,l ds fy, olwys x, 23-14 yk[k #i, vkSj mPp U;k;ky;] gSnjkckn esa iwoZ deZpkjh }kjk nk;j eqdnesa ¼2013&14½ ds fy, 9 yk[k #i, 'kkfey gSaA

2. Hkkjr esa rFkk Hkkjr ls ckgj daiuh dh ifjlaifRr;ksa ij _.k Hkkj

31-03-15 dks 31-03-14 dks

d- U;k;ky; ds vkns'kksa ls lhy gq, cSad [kkrs


[k- ljdkj dh vksj ls i;kZoj.k jkgr dks"k ds varxZr jksdh xbZ tek jkf'k;ka

'kwU; 'kwU;

3. _.kksa] fuos'kksa ,oa LFkk;h ifjlaifRr;ksa ds opuc)rk,a

,oa cdk;k ¼yk[k #i, esa½

31-03-15 dks 31-03-14 dks

d- _.k 1.80 1.80

[k- vkaf'kd pqdrk 'ks;j

15.13 15.13

x- vfxze ?kVkrs gq, iwath izfrc)rk,a

25388.10 5408.30

4. iquchZek ?kVkrs gq, pqdrk nkos¼yk[k #i, esa½

31-03-15 dks 31-03-14 dks

d- Hkkjr esa nkosnkj 498875.11 429833.99

[k- Hkkjr ls ckgj nkosnkj

9108.70 18202.85

x- dqy 507983.81 448036.84

5- ftu nkoksa ds Hkqxrku dks pkj o"kZ ls vf/kd dk le; gks x;k gS mu nkoksa ds ekeys esa nkok nsunkfj;ksa ds fu/kkZj.k ds fy, chekafdd vuqekuA

tgka nkok Hkqxrku dh vof/k pkj o"kZ ls vf/kd gks xbZ gS ogka daiuh us dksbZ ikWfylh tkjh ugha dh gSA



303

6- nkoksa dh vof/k ¼vkbZch,uvkj dks NksM+dj izR;{k½ d½ Hkkjr ds Hkhrj6. ageing of claims (direct excluding iBnR)a) Within india

(` in lacs)O;olk; dk oxZClass of Business

o"kZYear

cdk;k nkos Claims outstanding for



dqytotal

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

vfXuFire

31.3.2015 dksAs at 31.3.2015

1983 137813.20 1628 53217.45 3611 191030.65

31.3.2014 dksAs at 31.3.2014

1936 124529.42 1478 36147.65 3414 160677.07

ejhuMarine

31.3.2015 dksAs at 31.3.2015

1878 30487.59 2327 31898.89 4205 62386.48

31.3.2014 dksAs at 31.3.2014

1942 51687.22 1966 9179.76 3908 60866.98

fofo/kMisc

31.3.2015 dksAs at 31.3.2015

164263 319195.79 86959 150620.80 251222 469816.59

31.3.2014 dksAs at 31.3.2014

220383 343384.35 103039 96481.74 323422 439866.09

dqyTotal

31.3.2015 dksAs at 31.3.2015

168124 487496.58 90914 235737.14 259038 723233.72

31.3.2014 dksAs at 31.3.2014

224261 519600.99 106483 141809.15 330744 661410.15

[k½ Hkkjr ls ckgjb) outside india


o"kZYear




dqytotal

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

vfXuFire

31.3.2015 dksAs at 31.3.2015

42 2013.67 40 325.27 82 2338.94

31.3.2014 dksAs at 31.3.2014

67 292.53 52 2126.85 119 2419.38

ejhuMarine

31.3.2015 dksAs at 31.3.2015

57 318.07 75 218.54 132 536.61

31.3.2014 dksAs at 31.3.2014

79 212.97 60 228.82 139 441.79



o"kZYear




dqytotal

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

fofo/kMisc

31.3.2015 dksAs at 31.3.2015

2488 4503.80 1339 1776.63 3827 6280.43

31.3.2014 dksAs at 31.3.2014

1566 1736.58 2774 6298.04 4340 8034.62

dqyTotal

31.3.2015 dksAs at 31.3.2015

2587 6835.54 1454 2320.44 4041 9155.98

31.3.2014 dksAs at 31.3.2014

1712 2242.08 2886 8653.71 4598 10895.79

x½ dqyc) total


o"kZYear




dqytotal

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

la[;knumber

jkf'kamount

vfXuFire

31.3.2015 dksAs at 31.3.2015

2025 139826.87 1668 53542.72 3693 193369.59

31.3.2014 dksAs at 31.3.2014

2003 124821.95 1530 38274.50 3533 163096.45

ejhuMarine

31.3.2015 dksAs at 31.3.2015

1935 30805.66 2402 32117.43 4337 62923.09

31.3.2014 dksAs at 31.3.2014

2021 51900.19 2026 9408.58 4047 61308.78

fofo/kMisc

31.3.2015 dksAs at 31.3.2015

166751 323699.59 88298 152397.43 255049 476097.02

31.3.2014 dksAs at 31.3.2014

221949 345120.93 105813 102779.78 327762 447900.71

dqyTotal

31.3.2015 dksAs at 31.3.2015

170711 494332.12 92368 238057.58 263079 732389.70

31.3.2014 dksAs at 31.3.2014

225973 521843.07 109369 150462.86 335342 672305.94



305

7. Premium less Reinsurance underwritten from

(` in lacs)as at

31.03.2015as at

31.03.2014a. Business in India 631078.21 617810.43b. Business outside India

16160.50 20336.45

c. Total 647238.71 638146.888. Extent of premium income recognized, based

on varying risk pattern, category wise, with basis and certification thereof, including whether reliance has been placed on external evidence:

Premiums are recognized, net of reinsurance, based on assumption of risks in each related Revenue account and Reserve for Unexpired Risks is based on a percentage thereof, being 50% in case of Fire, Marine Cargo and Miscellaneous business and 100% in case of Marine Hull business as per Insurance Act,1938.

9. Value of contracts in relation to investments for

(Rs. in lacs)as at

31.03.2015as at

31.03.2014a. Purchases

where deliveries are pending

NIL NIL

b. Sales where payments are overdue

NIL NIL

(Rs. in lacs)as at

31.03.2015as at

31.03.201410. Historical

cost of Equity Shares/ Units of Mutual Funds valued on Fair Value Basis

218379.10 223086.92

11. Computation of managerial remuneration

As per provisions of section 197 of the Companies Act,2013, remuneration

7- iquchZek tksf[ke vadu ?kVkrs gq, izhfe;e¼yk[k #i, esa½

31-03-15 dks 31-03-14 dksd- Hkkjr esa dkjksckj 631078.21 617810.43[k- Hkkjr ls ckgj dkjksckj

16160.50 20336.45

x- dqy 647238.71 638146.88

8- D;k Ckkg~; izek.kksa ij fo'okl fd;k x;k gS vFkok ugha] bl rF; lfgr vk/kkj vkSj mlds izek.ku ds lkFk Js.khokj fofHkUu tkf[ke iz.kkyh ds vk/kkj ij izhfe;e vk; dh ek=k Lohd`r dh tkrh gS%

izR;sd lacaf/kr jktLo ys[kk esa tksf[keksa ds vuqeku ds vk/kkj ij iquchZek dks ?kVkrs gq, izhfe;eksa dks Lohd`r fd;k tkrk gS vkSj vlekIr tksf[keksa ds fy, jktLo mldh izfr'krrk ij vk/kkfjr gksrk gS] tks fd chek vf/kfu;e] 1938 ds vuqlkj vfXu] eSjhu dkxksZ vkSj fofo/k O;olk; ds ekeys esa 50 izfr'kr vkSj eSjhu gy O;olk; ds ekeys esa 100 izfr'kr gksrk gS

9- fuos'kksa ds laca/k esa vuqca/kksa dk ewY;

¼yk[k #i, esa½

31-03-15 dks 31-03-14 dksd- [kjhn tgka

vkiwfrZ yafcr gS'kwU; 'kwU;

[k- fcØh] tgka Hkqxrku vfrns; gS

'kwU; 'kwU;

¼yk[k #i, esa½

31-03-15 dks 31-03-14 dks

10. mfpr ewY; vk/kkj ij ewY;kafdr bfDoVh 'ks;jksa@ E;wpqvy QaMksa dh bdkb;ksa dh ,sfrgkfld ykxr

218379.10 223086.92

11- izca/kdh; ikfjJfed dh x.kuk daiuh vf/kfu;e] 2013 dh /kkjk 197 ds izko/kkuksa ds

vuqlkj] izeq[k izca/kdh; dkfeZdksa vkSj funs'kdksa dks vnk


paid to Key Managerial Personnel and directors has been computed in the manner

laid down in Section 198 and does not exceed 11% of the net profits of the Company.

Till previous year, the company being a Government Company was exempted vide

notification GSR 235 dated 31st January 1978 under section 620 of the Companies Act, 1956.

12. Basis of Amortization of Debt Securities:-

Debt Securities are amortized on the basis of residual number of days up to the date of maturity. While working out amortization put/call option is not considered. However, partial redemption, if any, is taken into account.

13. Pending realization, the credit balance in the “ Fair value change Account” is not available for distribution.

14. Fair value of Investment Property and basis thereof As required under the IRDAI (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002, the value of Investment Property (Real Estate) has been valued at historical cost less accumulated depreciation and impairment loss, if any.

(Rs. in lacs)as at

31.03.2015as at

31.03.201415. Claims settled

and remaining unpaid for more than 6 months as on the Balance Sheet date

5.30 6.18

fd, tkus okys ikfjJfed dh x.kuk /kkjk 198 esa fu/kkZfjr rjhds ls dh tkrh gS vkSj ;g daiuh ds fuoy ykHkksa ds 11 izfr'kr ls vf/kd ugha gksrhA xr o"kZ rd] daiuh dks ljdkjh daiuh gksus dh otg ls daiuh vf/kfu;e dh /kkjk 620 ds varxZr fnukad 31 tuojh 1978 dh vf/klwpuk th,lvkj 235 ds }kjk NwV izkIr FkhA

12- _.k izfrHkwfr;ksa ds ifj'kks/ku dk vk/kkj%& _.k izfrHkwfr;ksa dk ifj'kks/ku ifjiDork ds rkjh[k rd

vof'k"V fnuksa dh la[;k ds vk/kkj ij fd;k tkrk gSA ifj'kks/ku dh x.kuk djrs le; iqV@dkWy ds fodYi ij fopkj ugha fd;k tkrkA cgjgky] vkaf'kd 'kks/ku] ;fn dksbZ gks] ij fopkj fd;k tkrk gSA

13- miktZu ds yafcr jgrs] ^^mfpr ewY; ifjorZu [kkrk** esa _.k 'ks"k forj.k ds fy, miyC/k ugha gSA

14- fuos'k laink dk mfpr ewY; ,oa mldk vk/kkj% vkbZvkjMh, ¼chek daifu;ksa dk foRrh; fooj.k ,oa ys[kkijh{kdksa dh fjiksVZ rS;kj djuk½] fofu;eu] 2002 ds varxZr vko';d fuos'k laink ¼jh;y ,LVsV½ dk ewY; ,sfrgkfld ykxr esa ls lap;h ewY;g~jkl ,oa gkfu] ;fn dksbZ gks] ij vkadk x;k gSA

¼yk[k #i, esa½

31-03-15 dks 31-03-14 dks15. rqyu i= dh frfFk

dks fuLrkfjr nkos rFkk 6 ekg ls vf/kd le; ls xSj pqdrk 'ks"k

5.30 6.18



307

16. Investments made in accordance with statutory requirements

(` in lacs)as at

31.03.2015as at

31.03.2014a. 6.01% Central Government Securities 2028 deposited with HDFC Bank in accordance with Section 7 of Insurance Act, 1938

1711.07 F.V.1700.00

1711.92F.V.1700.00

b. Investments made outside India by way of Statutory Deposits under local laws

10470.54 9044.64

c. Fixed Deposits as margins for Institutional Trades as per SEBI directives

500.00 500.00

17. Performing* and non-performing* investments including loans for the purpose of income recognition as per Accounting Policy No. 10.8 are as under:

(` in lacs)as at

31.03.2015as at

31.03.2014a. Performing Investments

863873.32 786713.15

b. Non-Performing Investments

6775.01 5405.24

c. Total 869540.00 792118.39

*Excluding mutual fund, venture fund, equity and preference shares.

18. Summary of financial statements for the last 5 years:The summary of financial statements of the Company for the last five years are as under:

16- lkafof/kd vis{kkvksa ds vuq:i fd, x, fuos'k¼yk[k #i, esa½

31-03-15 dks 31-03-14 dks

d- chek vf/kfu;e] 1983 dh /kkjk 7 ds vuq:i dsanz ljdkj dh 6-01 izfr'kr izfrHkwfr;ka 2028 ,pMh,Qlh cSad ds ikl tek

1711.07 F.V.1700.00

1711.92F.V.1700.00

[k- LFkkuh; dkuwuksa ds varxZr lkafof/kd tek ds :i esa Hkkjr ls ckgj fd, x, fuos'k

10470.54 9044.64

x- lsch ds funZs'kksa ds vuq:i laLFkkxr O;kikj ds fy, ekftZu ds :i esa lkof/k tek

500.00 500.00

17- ys[kkdj.k uhfr la[;k 10-8 ds vuq:i vk; dh Lohd`fr ds mn~ns'; ls _.k lfgr lfØ;* ,oa xSj lfØ; * fuos'k dk fooj.k uhps fn, x, fooj.k ds vuqlkj gS%

¼yk[k #i, esa½

31-03-15 dks 31-03-14 dks

d- lfØ; fuos'k 863873.32 786713.15

[k- xSj&lfØ; fuos'k

6775.01 5405.24

x- dqy 869540.00 792118.39

*E;wpqvy QaM] osapj QaM] bfDoVh ,oa vf/kekuh 'ks;jksa dks NksM+dj

18- fiNys ikap o"kksZa ds fy, foRrh; fooj.kksa dk lkj% fiNys ikap o"kksZa ds fy, foRrh; fooj.kksa dk lkj

fuEukuqlkj gS%


(` in lacs)


Ø- la-sl.no.


2014-15 2013-14 2012-13 2011-12 2010-11

1 ldy izR;{k izhfe;eGross Direct Premium

756193 728254 673766 619460 556988

2 fuoy izhfe;eNet Premium

647238 638147 554524 523665 461158

3 fuos'k ls vk; ¼fuoy½ dIncome from Investment (net)

210054 191740 185032 161920 178772

4 vU; vk;Other Income

4894 3325 357 2453 967

5 dqy vk;Total Income

862186 833212 739913 688038 40897

6 deh'ku ¼fuoy½ ¼nykyh lfgr½Commission(Net)(Including Brokerage)

34782 35744 30467 32453 28590

7 izpkyu O;;Operating Expenses

234798 177543 174870 135446 157254

8 fuoy mixr nkosNet Incurred Claims

526150 511102 439285 489306 406536

9 fuoy vlekIr tksf[ke fjtoZ esa ifjorZuChange in Unexpired Risk Reserve

4722 42750 15817 -5801 30476

10 izpkyu ykHk@gkfuOperating Profit/Loss

61734 66073 79474 36634 18041

xSj&izpkyu ifj.kkeNON OPERATING RESULT

11 'ks;j/kkjd ys[kk ds rgr dqy vk;Total Income under Shareholder’s account

12 Dj iwoZ ykHk@¼gkfu½ ¼?kVk,a% iwokZof/k ensa½Profit/(loss) before tax(less: Prior period items)

62035 65381 79520 36241 17939



309

13 dj ds fy, izko/kku ¼iwoZorhZ o"kksZa rFkk MhVh,@MhVh,y ds fy, izko/kku lfgr½Provision for tax (including provision for earlier years and DTA/DTL)

22825 19352 26131 10902 12477

14 dj i'pkr ykHk@¼gkfu½Profit/(loss) after tax

39210 46029 53389 25339 5462

15 ikWfylh /kkjd dk ys[kk%Policyholder’s Account:


1053979 1031090 925275 831309 716955


1609782 899955 827144 726184 643420


9.12% 8.92% 8.95% 9.24% 8.95%

16 'ks;j /kkjdksa dh ys[kkShareholder’s Account


318183 292174 258780 217852 198402


456160 251766 231335 190303 178053


9.12% 8.92% 8.95% 9.24% 8.95%

17 iznRr bfDoVh iwathPaid up Equity Capital

20000 15000 15000 10000 10000

18 fuoy ewY;Net Worth

318183 289202 252838 217852 198402

19 dqy ifjlaifRr;kaTotal Assets

2628486 2390805 2187937 1997121 1938831

20 dqy fuos'k ij ykHkYield on total investments

9.12% 8.92% 8.95% 9.24% 8.95%

21 izfr 'ks;j miktZu ¼#i,½Earning per share (Rs.)

19.60 30.69 35.59 25.34 5.46

22 izfr 'ks;j cgh ewY; ¼#i,½Book Value per share (Rs.)

159.09 192.80 168.56 217.85 198.40

23 dqy ykHkka'kTotal Dividend

11000.00 10800.00 10650.00 5067.00 0.00

24 izfr 'ks;j ykHkka'k ¼#i,½Dividend per share (Rs.)

5.50 7.20 7.10 5.07 0.00


19- ys[kkdj.k vuqikr% foRr o"kZ 2014&15 ds fy, egRoiw.kZ ys[kkdj.k vuqikr uhps fn, x, vuqlkj gSa%19. accounting Ratios:

The important accounting ratios for the FY 2014-15 are as under:

xSj&thou chek dEifu;ksa ds fy, fo'ys"k.kkRed vuqikr %analytical Ratios for non-life companies

% %

Ø- la-sl. no.

fooj.kParticulars

31.03.2015 31.03.2014

1 ldy ewY; izhfe;e o`f) nj ¼izfr'kr½Gross Direct Premium Growth Rate

3.84 8.09

2 fuoy ewY; ds laca/k esa ldy izR;{k izhfe;e vuqikr ¼izfr'kr½Gross Direct Premium to Net Worth ratio

237.65 251.81

3 fuoy ewY; dh o`f) nj ¼izfr'kr½Growth rate of Net Worth

10.02 14.38

4 fuoy izfr/kkj.k vuqikr ¼izfr'kr½Net Retention Ratio

82.19 82.48

5 fuoy deh'ku vuqikr ¼izfr'kr½Net Commission Ratio

5.37 5.60

6 ldy izR;{k izhfe;e ds laca/k esa izca/ku O;; vuqikr ¼izfr'kr½Expense of Management to Gross Direct Premium Ratio

37.24 30.62

7 fuoy fyf[kr izhfe;e ds laca/k esa izca/ku O;; vuqikr ¼izfr'kr½Expenses of Management to Net Written Premium Ratio

43.50 34.94

8 fuoy vftZr izhfe;e ds laca/k esa fuoy mixr nkos ¼izfr'kr½Net Incurred Claims to Net Earned Premium

81.89 85.84

9 la;qDr vuqikr ¼izfr'kr½Combined Ratio

123.54 119.26

10 fuoy izhfe;e ds laca/k esa rduhdh vkjf{kr vuqikr ¼xq.kk½Technical Reserves to Net Premium Ratio

1.63 1.62

11 tksf[ke vadu 'ks"k vuqikr ¼xq.kk½Underwriting balance ratio

(-)0.24 (-)0.22

12 izpkyu ykHk vuqikr ¼izfr'kr½Operating profit ratio

8.56 10.54

13Liquid Assets to liabilities ratio

0.30 0.30

14 ns;rkvksa ds laca/k esa vFkZlqyHk ifjlaifRr;ksa dk vuqikr ¼xq.kk½Net Earnings ratio

6.05 7.21

15 fuoy ewY; ij ykHk vuqikr ¼izfr'kr½Return on net worth ratio

12.32 15.92

16 visf{kr _.k 'kks/ku {kerk ds varj ¼vkj,l,e½ ds laca/k esa miyC/k _.k 'kks/ku {kerk ds varj ¼,,l,e½ dk vuqikr ¼xq.kk½Available Solvency Margin(ASM) to Required Solvency Margin(RSM) ratio

1.68 1.64

17 ldy ,uih, vuqikr ¼izfr'kr½Gross NPA Ratio-Policy holders funds; Shareholder fundsNet NPA Ratio

0.35 : 0.100 : 0

0.42 : 0.12 0 : 0



311

20. Basis of allocation of interest, dividends and rent between Revenue Accounts and Profit & Loss account.

As per sl. no. A 4 (5) of Accounting policies of the Company, income by way of Interest, Dividend and Rent are allocated between Revenue accounts and Profit & Loss account on the basis of Policyholders’ Fund and Shareholders’ Fund as at the beginning of the year.

21. Sector-wise break-up of Indian Direct Premium

(Rs. in lacs)as at

31.03.2015as at

31.03.2014a. Rural Sector 100990.51 82877.93b. Social Sector 161319.85 74191.86c. Others 478485.34 555714.21

d. Total 740795.70 712784.00

22. Break-up of investments subjected to restructuring

The figures of total assets restructured under various categories are being compiled. The assets restructured and implemented during the year and during previous year, under respective categories, are given below:

(Rs. in lacs)sr. no.

Category of asset

assets subjected to Restructuring and

implemented (during the year)

2014-15 2013-20141 Standard 0.00 0.002 Sub

Standard 0.00 0.00

3 Doubtful 554.11 924.164 Loss 0.00 0.00

Total 554.11 924.16

20- jktLo ys[kk rFkk ykHk ,oa gkfu ys[kk ds chp C;kt] ykHkka'k ,oa fdjk, ds vkoaVu dk vk/kkj

daiuh dh ys[kkdj.k uhfr;ksa dh Øe la[;k , 4(5) ds vuq:i C;kt] ykHkka'k rFkk fdjk, ds :i esa izkIr vk; dks o"kZ ds vkjaHk esa ikWfylh/kkjd fuf/k ,oa 'ks;j/kkjd uhf/k ds vk/kkj ij jktLo ys[kk rFkk ykHk ,oa gkfu ys[kk ds chp vkoafVr fd;k tkrk gSA

21- Hkkjrh; izR;{k izhfe;e dk {ks=okj C;kSjk

¼yk[k #i, esa½

31-03-15 dks 31-03-14 dksd- xzkeh.k {ks= 100990.51 82877.93

[k- lkekftd {ks= 161319.85 74191.86

Xk- vU; 478485.34 555714.21

?k- dqy 740795.70 712784.00

22- iqu%lajpuk ds v/khu fuos'kksa dk C;kSjk%

fofHkUu Jsf.k;ksa ds varxZr iqu% lajfpr dqy ifjlaifRr;ksa ds vkadM+ksa dks ladfyr fd;k tk jgk gSA lacaf/kr Jsf.k;ksa ds varxZr o"kZ ds nkSjku rFkk fiNys o"kZ esa iqu% lajfpr ,oa fØ;kfUor dh xbZ ifjlaifRr;ksa dks uhps n'kkZ;k x;k gS%

¼yk[k #i, esa½

Ø-la- ifjlaifRr dh Js.kh

iqu%lajpuk ds v/;/khu rFkk dk;kZfUor dh xbZ ¼o"kZ ds

nkSjku½ ifjlaifRr;ka2014-15 2013-2014

1 ekud 0.00 0.00

2 ekud ls fuEurj

0.00 0.00

3 lafnX/k 554.11 924.16

4 gkfu 0.00 0.00

dqy 554.11 924.16


23. Break up of Business acquisition Cost

The Commission/Brokerage incurred during the year 2014-15 in respect of Indian Direct Business is given below:

(Rs. in lacs)sr. no.

Category 2014-15 2013-14

1 Agents 34094.45 33344.402 Brokers 9698.67 9304.733 Corporate

Agency2980.37 2766.46

4 Referral Arrangement

0 0

Total 46773.49 45415.59

24. investments

24.1 Shares of the book value (fair value )of Rs 29.39 lacs (Previous year Rs20.27lacs) having purchase value of Rs.4.23 lacs (Previous year Rs.4.23 lacs )have not been registered in the name of the company, as the transfers are under objection for the period prior to 1998.

24.2 There are discrepancies in investments as per company’s books with the certificates issued by Stock Holding Corporation of India (custodian) of book value (fair value) of Rs0.09 lacs (Short) in SHCIL books) and Rs.3.06 lacs (Excess) in SHCIL books (Previous year Rs. 1.31lacs and Rs6.18lacs respectively). The differences are under reconciliation.

24.3 There is a net release in provisions for bad & doubtful debts of Rs 540.28 lacs (Previous year net release Rs11.25lacs) on account of One Time Settlements/ Restructuring/ Redemption of debts.

24.4 Loans/investments under non-performing assets as on the date of Balance Sheet have been classified under long term category as their realisibility is not certain.

24.5 In accordance with IRDAI norms on investments, unrealized gains/ loss of Rs

23- O;olk; vf/kxzg.k ykxr dk C;kSjk

Hkkjrh; izR;{k O;olk; ds laca/k esa o"kZ 2014&15 ds nkSjku mixr deh'ku@nykyh dk fooj.k uhps fn;k x;k gS%

¼yk[k #i, esa½

Ø-la- Js.kh 2014-15 2013-141 vfHkdrkZ 34094.45 33344.402 nyky 9698.67 9304.733 dkjiksjsV ,tsalh 2980.37 2766.464 jsQjy O;oLFkk 0 0

dqy 46773.49 45415.59

24- fuos'k

24-1 4-23 yk[k #i, ds Ø; ewY; ¼xr o"kZ 4-23 yk[k #i,½ okys 29-39 yk[k #i, ds cgh ewY; ¼mfpr ewY;½ ¼xr o"kZ 20-27 yk[k #i,½ ds 'ks;jksa dks daiuh ds uke iathd`r ugha fd;k x;k gS D;ksafd bldk varj.k 1998 ls igys dh vof/k ds fy, vkifRr ds v/khu gSA

24-2 daiuh ds cgh[kkrksa ds vuqlkj Hkkjrh; LVkWd gksfYMax dkjiksjs'ku ¼dLVksfM;u½ }kjk tkjh izek.ki=ksa dh n`f"V ls fuos'k esa folaxfr ikbZ xbZ gSA cgh ewY; esa ;g varj 0-09 yk[k #i, ,l,plhvkbZ,y dh cgh esa de rFkk 3-06 yk[k #i, ,l,plhvkbZ,y dh cgh esa T;knk ¼fiNys o"kZ Øe'k% 1-31yk[k #i, vkSj 6-18yk[k #i,½ gSA bl varj dk lek/kku fd;k tk jgk gSA

24-3 _.kksa ds ,deq'r lek/kku@iqu%lajpuk 'kks/ku ds laca/k esa 540-28 yk[k #i, ¼xr o"kZ 11-25 yk[k #i, dh fuoy fuxZr jkf'k½ ds v'kks/; ,oa lafnX/k _.kksa ds fy, izko/kkuksa esa fuoy fuxZe jkf'k lekfgr dh xbZ gSA

24-4 rqyu i= dh frfFk dks xSj fØ;k'khy ifjlaifRr;ksa ds varxZr _.k@fuos'k dks nh?kZdkyhu Js.kh ds rgr oxhZd`r fd;k x;k gS D;ksafd budh olwyh fuf'pr ugha gSA

24-5 fuos'kksa ij vkbZvkjMh, ds ekudksa ds vuq:i lwphc) bfDoVh@E;qpqvy QaM ds mfpr ewY; esa ifjorZu ds dkj.k mRiUu 972913-78 yk[k #i, ¼xr o"kZ 857011-36 yk[k #i,½ ds vizkIr ykHk@gkfu dks fuos'k esa



313

972913.78 lacs (Previous year Rs. 857011.36 lacs) arising due to change in fair value of listed equities and mutual funds are taken to investment and corresponding equal reserve created for the same as “Fair Value Change Account”. There is no effect on Profit and Loss account and such reserve is not available for distribution.

24.6 Profit on sale of long term investments amounted to Rs.87937.75 lacs (Previous year Rs. 85995.45lacs) during the financial year ended 31.03.2015.

25. immovable Properties

Fixed assets include certain properties costing Rs. 2432.59lacs (previous year Rs2432.59 lacs) for which either title deeds are not on record or registration is pending. The registration/stamp duty charges, to the extent not accounted, will be accounted for at the time of registration.

26. Balances under the following heads are pending reconciliation / confirmation

• Agents’Balances(Net)• Premium Deposits and Agents’ Premium,

included in Current Liabilities. • ReserveDepositswithcedingcompanies.• Amounts due to /from other persons or

bodies carrying on Insurance Business.• Amountsdueto/fromemployees.• SundryDebtors• SundryCreditors• Advances

The adjustments, if any, in respect of above will be made upon confirmation/analysis/ reconciliation.

27. depreciation/amortization

(i) There is a change in Accounting Policy of the Company for providing depreciation on tangible Fixed Assets. The Company was earlier charging the depreciation on WDV method at higher of the rates mentioned in the Companies Act,1956 and Income Tax Act,1961. Due to change in the Companies

yk;k x;k gS vkSj mlds fy, ^^mfpr ewY; ifjorZu ys[kk** esa rnuq:i leku vkjf{kr jkf'k dh O;oLFkk dh xbZ gSA ykHk ,oa gkfu ij bldk dksbZ izHkko ugha iM+k gS vkSj bl rjg dh vkjf{kr jkf'k forj.k ds fy, miyC/k ugha gSA

24-6 nh?kZdkyhu fuos'kksa dh fcØh ij dks 31-03-2015 lekIr foRr o"kZ ds nkSjku 87937-75 yk[k #i, ¼xr o"kZ 85995-45 yk[k #i,½ dk ykHk gqvkA

25- vpy laifRr;ka

vpy ifjlaifRr;ksa esa 2432-59 yk[k #i, ¼xr o"kZ 2432-59 yk[k #i,½ dh ykxr dh dfri; laifRr;ka 'kkfey gSa ftuds fy, ;k rks LokfeRo foys[k fjdkWMZ esa ugha gS ;k iathdj.k yafcr gSA buds iathdj.k@LVkai 'kqYd izHkkjksa dks vc rd ys[kkc½ ugha fd;k x;k gS vkSj mldks iathdj.k ds le; ifjdfyr fd;k tk,xkA

26- fuEufyf[kr 'kh"kksZa ds v/khu 'ks"k lek/kku@vfHkiqf"V ds fy, yafcr gSa

• ,tsaVksa dh 'ks"k jkf'k fuoy• izhfe;e tekjkf'k ,oa ,tsaVksa ds izhfe;e dks orZeku

nsunkfj;ksa esa lfEefyr fd;k x;k gSA• can daifu;ksa ds ikl vkjf{kr tek• chek O;olk; djus okys vU; O;fDr;ksa vFkok

fudk;ksa ij@dks cdk;k jkf'k• deZpkfj;ksa ij@dks cdk;k jkf'k• QqVdj nsunkj• QqVdj ysunkj• vfxze

mi;qZDr ds laca/k esa ;fn dksbZ lek;kstu gksuk gS rks mls vfHkiqf"V@fo'ys"k.k@lek/kku ds ckn gh fd;k tk,xkA

27- ewY;gzkl@_.k ifj'kks/ku

(i) ewrZ LFkk;h ifjlaifRr;ksa ij ewY;gzkl dk izko/kku djus ds fy, daiuh dh ys[kkdj.k uhfr esa cnyko vk;k gSA igys daiuh] daiuh vf/kfu;e] 1956 vkSj vk;dj vf/kfu;e,1961 esa mfYyf[kr njksa esa ls mPprj njksa ij MCY;wMhoh rjhds ls ewY;gzkl izHkkfjr dj jgh FkhA daiuh vf/kfu;e esa ifjorZu dh otg ls] daiuh us daiuh vf/kfu;e, 2013


Act, the Company has decided to charge depreciation On tangible Fixed Assets in accordance with the methodology provided in Part C of Schedule II to the Companies Act,2013, on Straight Line basis.

Due to this change in Accounting Policy, the depreciation charge for the F.Y.2014-15 is less by Rs.136.44 lacs as compared to the charge which would have been arrived by using the previous accounting policy .The profit for the current year has increased by an equivalent amount.

28. Reserve for Unexpired Risk

Direct Premium written in India during the year attributable to and to be allocated to succeeding accounting periods is less than the percentages laid down in Sec 64V(1)(ii)(b) of the Insurance Act, 1938 and hence Reserve for Unexpired Risks on Premium net of Reinsurance is created at the percentages laid down in Sec 64V(1)(ii)(b) in accordance with IRDAI Regulations in all segments (Refer Accounting Policy No. 4.1, as per IRDAI Master Circular on preparation of Financial Statements-General Insurance- issued in October’2012 and as per Insurance Ordinance 2014.

29. status of income tax and service tax assessments

(i) The income tax assessment for and up to the assessment year 2012-13 and service tax assessment for and up to financial year 2002-03 and for the financial years 2008-09 to 2010-11 have been completed. Certain appeals pertaining to Income Tax and Service Tax are pending for the earlier years. The necessary adjustments shall be carried out after completion of assessments/appeals.

(ii) Demands raised by Income Tax authorities have been fully provided for, wherever considered appropriate, in cases where the company has filed or is in the process of filing an appeal with the appropriate authority.

dh vuqlwph AA ds Hkkx x esas fn, x, rjhds ds vuqlkj ljy js[kk vk/kkj ewrZ LFkk;h ifjlaifRr;ksa ij ewY;gzkl izHkkfjr djus dk fu.kZ; fd;k gSA ys[kkdj.k uhfr esa ifjorZu ds dkj.k] foRr o"kZ 2014&15 dk ewY;gzkl izHkkj ml izHkkj dh rqyuk esa 136-44 yk[k #i, de gS tks fiNyh ys[kkdj.k uhfr dk mi;ksx djds izkIr gksrkA pkyw o"kZ ds fy, ykHk esa lerqY; jkf'k ftruh o`f) gqbZ gSA

28- vlekIr tksf[ke ds fy, vkjf{kr jkf'k

o"kZ ds nkSjku Hkkjr esa vftZr izR;{k izhfe;e tks vkxkeh ys[kkdj.k vof/k esa ;ksxnku nsus okyk rFkk mlesa vkoafVr gksus okyk gS og chek vf/kfu;e] dh /kkjk 64oh (1)(ii) (b) esa of.kZr izfr'kr Lrj ls de gS vkSj blfy, iquchZek ds ldy izhfe;e ij vlekIr tksf[keksa ds fy, fjtoZ dk fuekZ.k dsoy fofo/k O;olk; dks NksM+dj lHkh laoxksZa esa vkbZvkjMh, ds fofu;eksa ds vuq:i /kkjk esa of.kZr izfr'kr Lrj ij rFkk vkbZvkjMh, ds fofu;eksa ds vuqlkj /kkjk 64 oh¼1½¼ii½¼b½ esa of.kZr izfr'kr Lrj ij rFkk vkbZvkjMh, ds foRrh; fooj.k rS;kj djuk & lkekU; chek ds laca/k esa vDVwcj] 2012 esa tkjh ekLVj ifji= ds vuqlkj vkSj chek v/;kns'k 2014 ds vuqlkj fd;k x;k gSA ¼ns[ksa ys[kkdj.k uhfr 4-1½

29- vk; dj ,oa lsok dj vkdyu dh fLFkfr

(i) vkdyu o"kZ 2012&13 gsrq ,oa ml o"kZ rd vk; dj rFkk foRrh; o"kZ 2002&03 ds fy,@rd ,oa foRrh; o"kZ 2008&09 ls 2010&11 rd ds fy, lsok dj dk vkdyu iwjk dj fy;k x;k gSA iwoZorhZ o"kksZa ds fy, vk; dj rFkk lssok dj ls lacaf/kr dfri; vihysa yafcr gSaA vkdyu@vihy ds iwjk gksus ds ckn vko';d lek;kstu fd, tk,A

(ii) ,sls ekeyksa esa] tgka daiuh us l{ke izkf/kdj.k ds ikl vihy dj j[kh gS ;k bldh izfØ;k esa gS] ogka tgka dgha mi;qDr le>k x;k] vk; dj vf/kdkfj;ksa }kjk mBkbZ xbZ ekaxksa dk iwjh rjg fuiVkjk dj fn;k x;k gSA

(iii) ekuuh; fnYyh mPp U;k;ky; ds vkns'k ij vk/kkfjr vk; dj okilh dh jde 2461 yk[k #i, rFkk ml ij C;kt dh jkf'k 8283 yk[k #i, dk ys[kk tks[kk foRr



315

(iii) Based upon Hon’ble Delhi High Court Order, Income Tax refund and interest thereon of Rs.2461 lacs and Rs. 8283 lacs respectively were accounted for on an estimated basis in the FY 2004-05. However in view of the appeal filed by the I.T. Department in Hon’ble Supreme Court and clearance given by COD, a provision of Rs. 6518 lacs towards unrealised interest relating to assessment years 1974-75, 1976-77,1977-78 and 1979-80 was created in 2005-06. Though the appeal has been decided by Hon’ble Supreme Court in our favour, the Company has not yet recognized the effect of Supreme Court order, as intimation from IT department for refund of interest is still awaited.

(iv) An interest income of Rs.19.14 crores has been booked during the year on the basis of intimation of refund order of Rs.61.74 crores received from the Income Tax Department for the Assessment Year 1978-79.

(v) Provision for tax includes Rs.22820 lacs for the current year 2014-15 and Rs 5 lacs for the previous year 2013-14 .

30. PRovisions FoR oUtstanding ClaiMs:

In pursuance to IRDAI Master Circular issued in October’ 2012 ,the Appointed Actuary has valued the provision for Free Look Period under the Health Segment as Rs.0.71 lacs for the current year 2014-15 (Previous year Rs.0.51 lacs)

31. Premium deficiency

Overall there is no Premium Deficiency in Fire, Marine and Miscellaneous Revenue Accounts put together and hence no premium deficiency has been provided in the current financial year. However, under the 8 segments falling under Miscellaneous, there is Premium Deficiency of Rs. 362 lacs (Previous year Rs543 lacs) in Aviation. In addition, in Health segment (a reportable segment which contributes to more than 10% of the Premium underwritten), the Premium Deficiency works out to Rs.15873 lacs (previous year Rs. 4096 lacs).

The Premium deficiency is recognized if the sum

o"kZ 2004&05 ds vuqekfur vk/kkj ij fd;k x;k gSA ysfdu vk; dj foHkkx }kjk ekuuh; loksZPp U;k;ky; esa nkf[ky dh xbZ vihy dks /;ku esa j[k dj rFkk lhvksMh }kjk Lohd`fr fn, tkus ds ckn vkdyu o"kZ 1974-75] 1976-77] 1977-78 vkSj 1979-80 ls lacaf/kr vizkIr C;kt ds fy, 6518 yk[k #i, dk izko/kku o"kZ 2005&06 esa l`ftr fd;k x;k FkkA ;|fi ekuuh; loksZPp U;k;ky; us vihy dk QSlyk gekjs i{k esa fn;k gS ysfdu fQj Hkh daiuh us vHkh rd loksZPp U;k;ky; ds vkns'k ds izHkko dks ekU;rk ugha nh gS] D;ksafd C;kt dh okilh ds fy, vk; dj foHkkx ls feyus okyh lwpuk vHkh izrhf{kr gSA

(iv) vk; dj foHkkx dh vksj ls vkdyu o"kZ 1978-79 ds fy, 61-74 djksM+ #i, ds fjQaM vkns'k ds vk/kkj ij o"kZ ds nkSjku 19-14 djksM+ #i, dh C;kt dh vk; cgh esa Mkyh xbZ gSA

(v) dj gsrq izko/kku esa pkyw o"kZ 2014&15 ds fy, 22820 yk[k #i, vkSj xr o"kZ 2013&14 ds fy, 5 yk[k #i, 'kkfey gSA

30- cdk;k nkoksa ds fy, izko/kku%

vDVwcj 2012 esa tkjh vkbZvkjMh, ds ekLVj ifji= ds vuqlj.k esa] fu;qDr chekafdd@eqgjZj us pkyw o"kZ 2014&15 ds fy, LokLF; lsxesaV ds v/khu Qzh yqd vof/k ds izko/kku dk ewY;kadu 0-71 yk[k #i, ¼xr o"kZ 0-51 yk[k #i,½ ds :i esa fd;k gSA

31- izhfe;e esa deh

vfXu] eSjhu ,oa fofo/k jktLo ys[kk esa izhfe;e esa dksbZ deh ugha gS vkSj blfy, orZeku foRrh; o"kZ esa fdlh izhfe;e dh deh ds fy, izko/kku ugha fd;k x;k gSA rFkkfi] fofo/k ds varxZr vkus okys vkB laoxksZa esa ls foekuu esa yk[k #i, xr 362 o"kZ yk[k #i, ¼xr o"kZ 543 yk[k #i,½ dh izhfe;e dh deh ntZ dh xbZA blds vfrfDjr LokLF; laoxZ ¼izhfe;e tksf[ke vadu esa 10 izfr'kr ls vf/kd dk ;ksxnku djus okyk ,d egRoiw.kZ laoxZ gS½ esa 15873 yk[k #i, ¼xr o"kZ 4096 yk[k #i,½ dh izhfe;e dh deh ntZ dh xbZ gSA

;fn izR;kf'kr nkoksa dh jkf'k] lacaf/kr O;; vkSj nkoksa ds fuiVku ls lacaf/kr j[k&j[kko ykxr O;olk; ds


of expected claims cost, related expenses and maintenance costs related to claims handling exceeds the unearned premium for the related class of business.

32. expenses incurred Under Following heads

i. Outsourcing Expenses Rs. 12560.95 lacs

ii. Marketing Support Rs. NIL

33. Sundry debtors of Rs5558.84 lacs includes Rs. 289.40 lacs paid to income tax(appeals) on account of income tax demand for failure to deduct tax at source in MACT cases, which remains outstanding and so has been provided fully.

34. There is non reconciliation of amount of facultative premium ceded and facultative claims paid recoveries between the accounts maintained by the reinsurance accounts and the group underwriting cells (GUC) of technical departments.

As on 31.03.2015 the net difference for facultative premium ceded comes to Rs 11937.70 lacs (previous year Rs. 6749.67 lacs) and for recoveries it comes to Rs 1330.68 lacs (previous year Rs 4676.26 lacs).

35. accounting standard 3: Cash Flow statement

The Cash Flow statement of the Company has been prepared under the direct method

36. accounting standard 5: Prior Period items :-

a) Prior period items consist of the following:

(Rs. in lacs)sr. no. Particulars 2014-15 2013-141 Prior Period

Income 12.08 29.48

2 Prior period expenses

289.26 (-)721.27

Net Income 301.34 (-)691.79

The amounts are shown separately in profit and loss account after ‘profit before tax’

b) Changes in Accounting Estimates

lacaf/kr oxZ ds fy, vizkIr izhfe;e ls vf/kd gksrh gS] rks izhfe;e deh dks Lohd`r fd;k tkrk gSA

32- fuEufyf[kr 'kh"kksZa ds v/khu fd;k x;k O;;

i. vkmVlksflZax O;;% #i, 12560-95 yk[k #i,

ii. foi.ku lg;ksx% 'kwU; #i,

33- ,e,lhVh ekeyksa esa lzksr ij dj dVkSrh esa foQyrk gsrq vk; dj dh ekax ds en esa vk; dj ¼vihyksa½ ds fy, pqdk, x, 289-40 yk[k #i, lfgr 5558-84 yk[k #i, dh QqVdj nsunkjh] tks vc rd cdk;k gS vkSj blfy, mls iwjh jkf'k iznku dh xbZ gSA

34- rduhdh foHkkxksa ds lewg tksf[ke vadu izdks"Bksa ¼th;wlh½ ,oa iquchZek [kkrksa }kjk vuqjf{kr [kkrksa ds chp lkSais x, laHkkxh; izhfe;e rFkk laHkkxh; nkos dh pqdrk okilh dh jkf'k dk iqufeZyku ugha gqvk gSA

31-03-2015 dks laHkkxh; izhfe;e ds fy, fuoy varj 11937-70 yk[k #i, ¼xr o"kZ 6749-67 yk[k #i,½ rFkk Hkqxrku ds lkis{k okilh dk varj 1330-68 yk[k #i, ¼xr o"kZ 4676-26 yk[k #i,½ cSBrk gSA

35- ys[kkjd.k ekud 3% udn izokg fooj.k

daiuh dk udn izokg fooj.k izR;{k fof/k ds rgr rS;kj fd;k x;k gSA

36- ys[kkdj.k ekud 5% iwokZof/k ensa%&

d½ iwokZof/k vof/k enksa esa fuEufyf[kr 'kkfey gSa%

Ø-la- fooj.k 2014-15 2013-14

1 iwokZof/k vk; 12.08 29.48

2 iwokZof/k O;; 289.26 (-)721.27

fuoy vk; 301.34 (-)691.79

^^dj iwoZ ykHk** ds ckn ykHk gkfu ys[kk esa jkf'k;ka vyx ls n'kkZbZ xbZ gSaA

[k½ ys[kkdj.k vuqekuksa esa ifjorZu

ys[kkdj.k uhfr 5-1d dh vksj /;ku vkdf"kZr fd;k tkrk gS ftlesa fo'ks"k :i ls dgk x;k gS fd ô"kZ ds var esa cdk;k nkoksa ds fy, vuqekfur nkf;Ro



317

Attention is drawn to Accounting Policy 5.1.a, wherein it has been specifically stated that “Estimated liability for outstanding claims at the year end are based on survey reports, information provided by clients, advices of the leader and other sources upto the date of finalization, past experience and other applicable laws. The estimates are continuously reviewed and provisions made accordingly. However, the final liability may be in excess of, or less than, the amount provided, for which any adjustments will be reflected in the periods in which they become known.” It has also been clarified by the Insurance Regulatory and Development Authority vide letter dated 25th May 2004 that impact of such changes in estimates, do not call for disclosure so long as there is no change in the method of provisioning for outstanding claims. As there has been no change in the method of provisioning for outstanding claims in the current year, no disclosure has been separately made.

c) Litigation Settlements

The settlements made on account of litigations for the financial year ended on 31.03.2015 amounted to Rs.132854.07 lacs (previous year Rs 129939.41 lacs).

d) Disposal of Fixed Assets

The net proceeds on sale of fixed assets during the year amounted to Rs.297.77 lacs (previous year Rs. 468.99 lacs) and the net loss on sale of fixed assets amounted to Rs.32.78 lacs (previous year Rs. 94.51 lacs).

37. Accounting Standard 15 (Revised)

The Company has adopted Accounting Standard, AS-15 (Revised 2005) ‘Employee Benefits’ during the financial year 2007-2008.

The defined Employees benefits schemes are as under:

1. EMPLOYEES BENEFITS DURING SERVICE

¼nsunkfj;ka½ losZ{k.k dh fjiksVZ] xzkgdksa }kjk miyC/k djokbZ xbZ lwpuk] usrkvksa ds ijke'kZ rFkk vafre :i nsus dh rkjh[k rd ds vU; lzksrksa] fiNys vuqHko rFkk ykxw gksus okys vU; dkuwuksa ij vk/kkfjr gksrk gSA vuqekuksa dh fujarj leh{kk dh tkrh gS vkSj rnuqlkj izko/kku fd, tkrs gSaA ysfdu fQj Hkh vafre ns;rk ¼nsunkjh½ miyC/k jkf'k ls vf/kd ;k de gks ldrh gS ftlds fy, fdlh izdkj ds lek;kstu dks ml vof/k esa fn[kk;k tk,xk ftlesa mldh igpku dh xbZ gSA*

chek fofu;ked ,oa fodkl izkf/kdj.k }kjk fnukad 25 ebZ] 2004 ds vius i= ds ek/;e ls ;g Hkh Li"V fd;k x;k gS fd vuqekuksa esa bl rjg ds ifjorZuksa ds izHkko dks rc rd izdV djus dh t:jr ugha iM+rh gS tc rd cdk;k nkoksa ds fy, izko/kku fuekZ.k dh fof/k esa dksbZ cnyko u fd;k tk,A pwafd pkyw o"kZ esa cdk;k nkoksa ds fy, izko/kku fuekZ.k ds rjhds esa dksbZ ifjorZu ugha fd;k x;k gS blfy, vyx ls dksbZ izdVu ugha fd;k x;k gSA

x½ eqdnesckth dk fuiVku 31-03-2015 fnukad dks lekIr foRrh; o"kZ ds fy,

eqdnesckth ds en esa 132854-07 yk[k #i, ¼xr o"kZ 129939-41 yk[k #i,½ dh jkf'k dk fuiVku fd;k x;k gSA

?k½ LFkk;h ifjlaifRr;ksa dk fuiVku o"kZ ds nkSjku LFkk;h ifjlaifRr;ksa dh fcØh ij fuoy

:i ls 297-77 yk[k #i, ¼xr o"kZ 468-99 yk[k #i,½ dh jkf'k vftZr dh xbZ vkSj vpy ifjlaifRr;ksa dh fcØh ij fuoy ykHk dh jkf'k 32-78 yk[k #i, ¼xr o"kZ 94-51 yk[k #i,½ jghA

37- ys[kkdj.k ekud 15 ¼la'kksf/kr½ daiuh us foRRkh; o"kZ 2007&2008 ds nkSjku ys[kkdj.k

ekud ,,l&15 ¼la'kksf/kr 2005½ deZpkfj;ksa ds fy, ykHk dks viuk;k gSA

ifjHkkf"kr deZpkjh ;kstuk,a fuEukuqlkj gSa%1- lsokdky ds nkSjku deZpkfj;ksa ds ykHk chekjh vodk'k ,oa ,yVh,l ds fy, nkf;Ro dh

igpku chekafdd ewY;kadu ds vk/kkj ij dh tkrh gSA


PERIOD

The liability for Sick Leave and LTS is recognized based on Actuarial Valuation.

(a) LTS Liability has decreased by Rs.339 lacs during the year (previous year decreased by Rs. 25.81 lacs) and has been credited/debited to Profit & Loss Account respectively. Total liability for LTS as on 31.03.2015 is Rs. 745.32 lacs (previous year Rs. 1084.20 lacs).

(b) Liability for sick leave for the current year has increased by Rs. 610.13 lacs (previous year increased by Rs2356.99 lacs) and has been debited to Profit and Loss Account. Total liability for sick leave as on 31-03-2015 is Rs. 17588.87 lacs ( previous year Rs.16978.75 lacs).

Assumption:- Availment of 70 % of outstanding sick leave ( previous year 75%). The assumption is based on un-availed sick leave to the credit of employees at the time of retirement, which, being not vesting, lapses on retirement.

2. eMPloYees RetiReMent BeneFits:

This includes Pension, Gratuity and Leave Encashment.

Pension:

Company has a Defined Pension Scheme. Under this scheme, Pension is payable to Employees who have opted for Pension Scheme. Company has created separate Fund for the Scheme which is funded by the Company and managed by separate Trust. The liability for the same is recognized on the basis of actuarial valuation.

However, in case of employees who joined service from 1st January 2004 onwards, Pension is Contributory benefit scheme wherein Company’s obligation is restricted only to the periodic contributions. Total funds accumulated under this scheme as on 31.03.15 amounting to Rs.3200.50 lacs

¼d½ o"kZ ds nkSjku ,yVh,l nsunkjh esa 339 yk[k #i, dh deh ¼xr o"kZ 25-81 yk[k #i,½ dh deh gqbZ gS vkSj bls ykHk ,oa gkfu [kkrk esa ØsfMV@MsfcV dj fn;k x;k gSA 31-03-2015 dks ,yVh,l dh dqy ns;rk 745-32 yk[k #i, ¼xr o"kZ 1084-20 yk[k #i,½ gSA

¼[k½ pkyw o"kZ ds fy, chekjh vodk'k gsrq nkf;Ro esa 610-13 yk[k #i, ¼xr o"kZ 2356-99 yk[k #i,½ dh o`f) gqbZ gS vkSj bls ykHk ,oa gkfu [kkrk esa MsfcV fd;k x;k gSA 31-03-2015 dks chekjh vodk'k ds fy, dqy nkf;Ro 17588-87 yk[k #i, ¼xr o"kZ 16978-75 yk[k #i,½ gSA

vuqeku%& cdk;k chekjh vodk'k ds 70% izfr'kr ¼xr o"kZ 75%½ dk ykHk mBk;k x;kA ;g vuqeku lsok fuo`fRr ds le; deZpkfj;ksa ds [kkrs esa vizkIr chekjh vodk'k ij vk/kkfjr gS ftls izkIr ugha djus ij lsok fuo`fRr ij lekIr ekuk tkrk gSA

2- deZpkjh lsokfuo`fRr ykHk% blesa isa'ku] minku ,oa vodk'k udnhdj.k 'kkfey

gSaA

isa'ku% daiuh dh ,d ifjHkkf"kr isa'ku ;kstuk gSA bl

;kstuk ds varxZr mu deZpkfj;ksa dks isa'ku nh tkrh gS ftUgksaus isa'ku ;kstuk dk fodYi pquk gSA daiuh us bl ;sktuk ds fy, vyx fuf/k cukbZ gS ftldk foRriks"k.k daiuh }kjk fd;k tkrk gSA blds fy, nkf;Ro dh igpku chekafd ewY;kadu ds vk/kkj ij dh tkrh gSA

rFkkfi] ,sls deZpkfj;ksa ds ekeys esa] ftUgksaus 1 tuojh 2004 ds ckn ls daiuh esa ukSdjh dh 'kq#vkr dh gS] isa'ku va'knk;h ykHk ;kstuk gS] ftlesa daiuh dk nkf;Ro dsoy vkof/kd va'knkuksa rd gh lhfer gSA 31-03-15 rd bl ;kstuk ds varxZr lap;h dks"k dh dqy jkf'k 3200-50 yk[k #i, gS ftlesa bldh LFkkiuk ls vc rd dk 572-55 yk[k #i, dk C;kt ¼foRr o"kZ 2014&15 ds fy, 227-94 yk[k #i, dk C;kt½ 'kkfey gS ftldh x.kuk fuos'k iksVZQksfy;ks ij vkSlr izkfIr ds vk/kkj ij dh xbZ gS vkSj tks isa'ku fu;ked ,oa fodkl izkf/kdj.k dks Hksts tkus ds



319

fy, yafcr gSA

minku% daiuh dh lHkh Jsf.k;ksa ds deZpkfj;ksa ds fy, viuh

ifjHkkf"kr ykHk minku ;kstuk ekStwn gSA ikap o"kZ dh fujarj lsok ds ckn minku dk Hkqxrku fd;k tkrk gSA blds fy, daiuh us i`Fkd dks"k dk fuekZ.k fd;k gS ftlds fy, /ku dh O;oLFkk daiuh }kjk vkSj bldh ns[k js[k ,d i`Fkd U;kl }kjk dh tkrh gSA chekafdd ewY;kadu ds vk/kkj ij blds nkf;Ro dh igpku dh tkrh gSA

minku nkf;Ro dk _.k 'kks/ku% o"kZ 2010&11 ds nkSjku daiuh }kjk vius vf/kdkfj;ksa

,oa deZpkfj;ksa ds osru dh leh{kk dh xbZ gSA blds vykok Hkkjr ljdkj us fnukad 24 ebZ] 2010 dks tkjh jkti= vf/klwpuk ds ek/;e ls ^^minku Hkqxrku vf/kfu;e 1972^^ ds varxZr minku ds fy, mPpre lhek dh m/oZeq[kh leh{kk djds bls 3-50 yk[k #i, ls c<+kdj 10-00 yk[k #i, fu/kkZfjr fd;k gSA blds ifj.kkeLo:i minku nkf;Ro esa 17122-76 yk[k #i, dh c<+kSrjh gks xbZ gSA

deZpkjh ykHk ij ys[kkdj.k ekud 15 ¼la'kksf/kr½ dh vis{kkvksa ds nf"Vdks.k ls foRr foRr o"kZ 2010&11 esa 17122-76 yk[k #i, ds laiw.kZ nkf;Ro dks ykHk ,oa gkfu [kkrk esa izHkkfjr djuk visf{kr FkkA

vkbZvkjMh, us fnukad 18 vizSy] 2011 ds vius ifji= la[;k vkbZvkjMh,@,Q,aM,@lhvkbZvkj@,lhVh@069@04@2011 ds ek/;e ls chekdrkZvksa dks minku ds ekeys esa ikap o"kZ dh vof/k rd vfrfjDr nkf;Ro ds 'kks/ku dh vuqefr iznku dh xbZ gSA vkbZvkjMh, ds ifji= ds vkyksd esa lsokjr deZpkfj;ksa ls lacaf/kr minku dh en esa vfrfjDr nkf;Ro dh jkf'k 14856-73 yk[k #i, cSBrh gS ftls ikap o"kZ dh vof/k esa 'kksf/kr fd;k tk jgk gS ftldh 'kq#vkr 2010&11 ls gks pqdh gSA o"kZ 2013&14 ds nkSjku dqy 14856-73 yk[k #i, dh ns;rk ls 1@5 Hkkx dh jkf'k 2971-35 yk[k #i, dks jktLo@ykHk ,oa gkfu ys[kk esa izHkkfjr dj fn;k x;k gSA 31-03-2014 dks xSj 'kksf/kr ns;rk dh 'ks"k cph jkf'k 2971-34 yk[k #i, dks ^fofo/k O;; ys[kk^^

including interest of Rs. 572.55lacs since inception (Rs. 227.94 lacs interest for the FY 2014-15), calculated on the basis of average yield on Investment portfolio, are pending remittance to Pension Regulatory and Development Authority.

gratuity:

Company has Defined Benefit Gratuity Plan for all categories of employees. Gratuity is payable after 5 years of continuous service. Company has created separate Fund which is funded by the Company and managed by separate trust. The liability for same is recognized on the basis of actuarial valuation.

amortization of gratuity liability:

During the year 2010-11, pay revision of the officers and employees have been carried out by the Company. Further, Government of India , vide Gazette Notification dated May 24th 2010, has revised upward maximum limit for Gratuity under “Payment of Gratuity Act 1972” from Rs. 3.50 lacs to Rs. 10.00 lacs which resulted in increase in Gratuity Liability by Rs 17122.76 lacs.

In terms of the requirements of Accounting Standard 15 (Revised) on employees’ benefits, entire liability of Rs 17122.76 lacs was required to be charged to profit and loss account in the FY 2010-11.

IRDAI, vide Circular No IRDAI/F&A/CIR/ACT/069/04/2011 dated 18th April 2011, has permitted insurers to amortize the additional liability on account of Gratuity over a period of five years. In pursuance of IRDAI Circular, the additional liability on account of Gratuity relating to employees in service amounting to Rs 14856.73 lacs, is being amortized over a period of five years commencing from 2010-11. During the year 2014-15, 1/5th of the liability of Rs. 14856.73 lacs amounting to Rs. 2971.35 lacs has been charged to Revenue / Profit and Loss


Account. The balance unamortized liability as on 31.03.2015 is NIL.

leave encashment:

Encashment of Privilege Leave (PL) is allowed to all class of employees, both during service period and on retirement. During service period, encashment is allowed for 15 days PL once in 2 years and on retirement, it is restricted to 240 days PL. This is unfunded and recognized on the basis of actuarial valuation.

The summarized position of the above Employees benefits recognized in the Profit and Loss Account and Balance Sheet are as under:

Change in the PResent valUe oF the deFined BeneFit oBligations

esa j[kk x;k gS vkSj vxys nks o"kZ esa leku fdLrksa esa bldk 'kks/ku fd;k tk,xkA

vodk'k udnhdj.k% lsokdky ds nkSjku ,oa lsok fuo`fRr ij] nksuksa vof/k

esa deZpkfj;ksa ds lHkh oxksZa ds fy, izhfoyst yho ¼ih,y½ ds udnhdj.k dh vuqefr nh xbZ gSA lsok dky ds nkSjku 2 o"kZ esa ,d ckj 15 fnu ds fy, udnhdj.k dh vuqefr gksrh gS vkSj lsokfuo`fRr ij ih,y dh lhek 240 fnuksa rd fu;r j[kh gSA blds fy, dks"k ugha gksrk gS vkSj bldh igpku chekafdd ewY;kadu ds vk/kkj ij dh tkrh gSA

ykHk ,oa gkfu ys[kk rFkk rqyui= esa Lohd`r deZpkfj;ksa ds mi;qZDr ykHk dh laf{kIr fLFkfr uhps fn, x, vuqlkj gS%

of.kZr ykHk nkf;Roksa ds orZeku ewY; esa ifjorZu

(Rs. in lacs)

fooj.k PaRtiCUlaRs

isa'kuPension

xzsP;qVhgRatUitY

vodk'k udnhdj.kleave enCashMent

14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-121 vizSy 2014 dks of.kZr ykHk nkf;RoDefined benefit obligations as at 1st April,2014

171743 152559 128098 117693 62082 60693 54464* 50835 30619 26474 22119 19914

orZeku lsok ykxrCurrent Service Cost

11838 21380 11036 9799 3843 3322 2799 2642 5510 4754 4593 3480


12651 12875 9519 9454 4723 5315 4310 4233 2275 2222 1699 1615

nkf;Ro ij okLrfod ¼ykHk½@gkfuActuarial (gain) / loss on obligation

35001 8618 26520 2782 2521 (3962) 2521 (1275) 394 738 606 (1073)


(23190) (23689) (22614) (11630) (4593) (3286) (3392) (2067) (3647) (3569) (2543) (1817)



321

fooj.k PaRtiCUlaRs

isa'kuPension

xzsP;qVhgRatUitY


14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-1231 ekpZ 2014 dks of.kZr ykHk nkf;RoDefined benefitobligation as at 31st March,2015

208043 171743 152559 128098 68576 62082 60693 54368 35151 30619 26474 22119

;kstuk ifjlaifRr;ksa ds mfpr ewY; esa ifjorZuChange in FaiR valUe oF Plan assets

(Rs. in lacs)

fooj.kPaRtiCUlaRs

isa'kuPension

xzsP;qVhgRatUitY

14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-121vizSy 2015 dks ;kstuk ifjlaifRr;ksa dk mfpr ewY;Fair value of plan assets as at 1st April,2014

144680 119166 116651 117693 62906 56277 52524* 50835

;kstuk ifjlaifRr ij okLrfod ykHkActual return on plan assets

13123 11123 10063 7083 5332 5025 4689 3682

deZpkfj;ksa dk ;ksxnkuEmployer’s contribution

2871 3270 3250 3505 -- -- -- --

vfrfjDr ;ksxnkuAdditional contribution

27179 33170 11447 0 43 4415 2456 0


(23190) (23689) (22614) (11630) (4593) (3286) (3392) (2067)

31 ekpZ] 2015 dks ;kstuk ifjlaifRr;ksa dk mfpr ewY;Fair value of plan assets as at 31st March, 2015

164906 144680 119166 116651 64131 62906 56277 52450


ykHk ,oa gkfu [kkrk esa Lohd`r O;; eXPenses ReCognised in PRoFit and loss aCCoUnt

(Rs. in lacs)

fooj.kPaRtiCUlaRs

isa'kuPension

xzsP;qVhgRatUitY

14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12orZeku lsok ykxrCurrent Service Cost

11838 21380 11036 9799 3843 3322 2799 2642


11838 21380 11036 9799 4723 5315 4301 4233

;kstuk ifjlaifRr;ksa ij okLrfod ykHkActual return on plan assets

(13123) (11123) (10063) (8032) (5333) (5498) (4689) (3682)

fuoy okLrfod ¼ykHk½@gkfuNet Actuarial (Gain)/Loss

34757 6978 26152 (3721) (2079) (4435) 2006 (1275)

fuoy vkof/kd ykxrNet Periodic CostvLohd`r _.k 'ks"kUnrecognized credit balance orZeku o"kZ esa Lohd`rv'kksf/kr 'ks"kRecognized in current year Unamortized balance

46124 30110 36643 14952 4430

-

2972

1379

2972

2972

4416

5942

2972

1918

-

2972



323

rqyu i= esa Lohd`r jkf'kaMoUnt ReCognised in BalanCe sheet

(Rs. in lacs)

fooj.kPaRtiCUlaRs

isa'kuPension

xzsP;qVhgRatUitY


14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-1231 ekpZ 2015 dks of.kZr ykHk nkf;Ro dk orZeku ewY;Present value of defined benefit obligations as at 31st March, 2015

208043 163864 152559 128098 68576 62082 60694 54368 35151 30619 26474 22119

31 ekpZ 2014 dks ;kstuk ifjlaifRr;ksa dk mfpr ewY; ¼orZeku o"kZ esa daiuh dks ;ksxnku lfgr½Fair value of plan assets as at 31st March, 2015 (including current year Company’s contribution)

164906 144680 119166 128098 64131 62906 56278 52450 - - - -

rqyu i= esa Lohd`r ns;rkLiability recognized in Balance Sheet

43137 19184 33393 NIL 5302 (824) 4416 1918 35151 30619 26474 2205

uksV% mi;qZDr rkfydkvksa esa vkadM+ksa dks fudVre yk[k #i, esa j[kk x;k gSA Note: The figures in the above tables are rounded off to nearest Rupees in Lacs.


chekafdd vuqeku aCtUaRial assUMPtion

chadkfdd ewY;kadu ds fy, bLrseky gksus okys izeq[k vuqeku bl izdkj gSa%The Principal Assumptions used for Actuarial Valuation are:

fooj.kPaRtiCUlaRs

isa'kuPension

minkugRatUitY


14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12(ii) NwV nj %(ii) Discount rate %

7.90 9.15 8.45 8.45 9.00 8.15 8.5 7.90 9.00 8.15 8.5

(iii)ifjlaifRr;ksa ij ykHk dh laHkkfor nj* %(iii) Expected rate of return on assets* %

8.86 8..86 8.43 8.44 8.84 9.05 8.5 7.90 9.00 8.15 8.5

(iv)Hkfo"; esa osru o`f) # %(iv)Future Salary Increase # %

7 7 5 5 5 5 5 7 7 5 5

(v) e`R;qnj(v) Mortality

..LIC (1996-98).. ..LIC (1994-96).. Table Table

..IAL(2006-08).. ..LIC (1994-96).. Ultimate Table Table

..IAL(2006-08).. ..LIC (1994-96).. Ultimate Table Table

vi) deZpkfj;ksa dk dkjksckjvi) Employees Turnover

2 2 2 2 2 2 2 2 2 2 2 2

vii) lsok ds 'ks"k o"kZvii) Remaining working life years

11.69 9.57 10.27 11.00 10.71 11.42 11.21 11.39 10.71 11.42 11.21 11.39

* ;kstuk ifjlaifRr;ksa ij okilh dh vuqekfur nj cktkj dh laHkkouk ij vk/kkfjr gS tks o"kZ ds vkjaHk esa lacaf/kr nkf;Ro dh laiw.kZ thoukof/k gsrq izfrQy ds fy, gSA

# chadkfdd us nkf;Ro dk vuqeku yxkus ds Øe esa eqnzkLQhfr] ofj"Brk] inksUufr ,oa vU; lacaf/kr ?kVdksa dk /;ku j[kk gSA

* Expected rate of return on plan assets is based on market expectation, at the beginning of the year, for return over the entire life of the related obligation.

# Actuary, while estimating liability has taken into consideration inflation, seniority, promotion and other relevant factors.



325

31 ekpZ] 2015 dks U;kl }kjk vuqjf{kr ;kstuk ifjlaifRr;ksa dk C;kSjk fuEukuqlkj gS%Details of Plan Assets maintained by the trust as on 31st March, 2015 are as follows:

(izfr'kr esa@In Percentage)

fooj.kPaRtiCUlaRs

isa'kuPension

minkugRatUitY

14-15 13-14 12-13 11-12 14-15 13-14 12-13 11-12

(i) fo'ks"k tek(i) special deposits

0.00 4.42 10.01 10.23 6.66 6.92 7.43 8.01

(ii) ljdkjh izfrHkwfr;ka(ii) Government Securities

54.54 51.38 47.01 44.70 35.76 36.18 37.86 38.45

(iii) ca/k i=@_.k i=(iii) Bonds/debentures

39.69 37.33 38.66 39.00 35.76 36.18 37.86 38.45

(iv) cSadksa esa tek(iv) Deposits in Banks

0.79 2.20 - 0.38 0.48 0.68 - 0.90

(v) vU;(v) Others

4.98 4.67 4.32 5.79 1.13 1.39 1.65 2.60

*xSj&ys[kkijhf{kr*unaudited

Post Retirement Medical Benefits: Company does not have any Post Retirement Medical Benefit Scheme. However medical expenses (both hospitalization and OP expenses) incurred by full time directors of the Company (who are full time employees of the company) for self and family are met by the Company even after the directors cease to be directors/employees of the Company, provided the Company is the Parent Company of such ex-employees. No premium is being charged from the ex-executives concerned for this benefit.

The Company shall bear 75% of the mediclaim premium payable computed on the basis of eligible Sum Insured applicable for the employee based on his notionally adjusted Basic Pay in respect of retired employee and spouse as per clause 09.2.1 and 09.2.2 of the New Group Mediclaim policy which is effective from 2014

Provision for wage revision:Provision for wage revision due to employees

lsokfuo`fRr i'pkr fpfdRlk ykHk% daiuh ls lsokfuo`fRr ds i'pkr fpfdRlk ykHk dh

dksbZ ;kstuk ugha gSA rFkkfi] daiuh ds iw.kZdkfyd funs'kdksa ¼tks fd daiuh ds iw.kZdkfyd deZpkjh gksrs gSa½ }kjk Lo;a vkSj ifjokj ds fy, fpfdRlk O;; ¼vLirky esa HkrhZ ,oa vksihMh O;; nksuksa½ dks daiuh }kjk ml le; Hkh ogu fd;k tkrk gS tc funs'kd daiuh ds funs'kdksa@dkfeZdksa dh Js.kh ls gV tkrs gSa c'krsZ daiuh ,sls iwoZ dkfeZdksa dh ewy daiuh jgh gksA bl ykHk ds fy, lacaf/kr iwoZ vf/kdkfj;ksa ls dksbZ izhfe;e izHkkfjr ugha fd;k tk jgk gSA

daiuh o"kZ 2014 ls ykxw ubZ lkewfgd fpfdRlk nkok uhfr ds mica/k 09-2-1 vkSj 09-2-2 ds vuqlkj lsokfuo`Rr deZpkjh vkSj mldh iRuh@ifr ds laca/k esa mlds vuqekur% lek;ksftr ewy osru ds vk/kkj ij deZpkfj;ksa ds fy, ykxw ik= chfer jkf'k ds vk/kkj ij x.kuk fd, x, ns; fpfdRlk nkok izhfe;e ds 75 izfr'kr fgLls dk ogu djsxhA

ikfjJfed la'kks/ku ds fy, izko/kku% 31-03-2015 dh fLFkfr ds vuqlkj deZpkfj;ksa dks

1 vxLr 2012 ls ns; ikfjJfed la'kks/ku laca/


kh izko/kku 38143-06 yk[k #i, gS vkSj blesa o"kZ 2014&15 ds fy, izko/kku dh xbZ 235 djksM+ #i, dh vfrfjDr /kujkf'k 'kkfey gSA

38- ys[kkdj.k ekud 17 laoxZ fjiksfVZax% rqyui= dh vuqlwph 1]2 vkSj 3 ds vuq:i laoxhZ;

fjiksfVZax ij vkbZvkjMh, ¼chek daifu;ksa ds foRrh; fooj.k ,oa ys[kk ijh{kdksa dh fjiksVZ rS;kj djuk½ fofu;e 2002 }kjk fu/kkZfjr fuEufyf[kr izk:i esa laoxhZ; lwpuk miyC/k djkbZ xbZ gS%

w.e.f 1st August 2012 stood at Rs.38143.06 lacs as at 31.03.2015 and it includes Rs.235 crores additional amount provided in the year 2014-15

38. accounting standard 17 segment Reporting:Segmental information has been given in the following format prescribed by IRDAI (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002 on Segmental Reporting, as per Schedules 1, 2 and 3 of Balance Sheet.

(Rs. in lacs)

laoxZsegment

ldy izR;{k izhfe;e foRr o"kZ 2014&15

gross direct Premium

FY 2014-15





FY 2013-14



vfXuFire

101277.67 13.39 103977.09 14.28

eSjhu dkxksZMarine Cargo

24757.89 3.27 27257.21 3.74

eSjhu gyMarine Hull

17389.04 2.30 21032.98 2.89

eksVj vksMhMotor OD

126133.83 16.68 119819.94 16.45

eksVj Vhih ¼ukWu&iwy½Motor TP (Non- Pool)

160572.25 21.23 138363.26 19.00

eksVj Vhih ¼iwy½ ,oa Mhvkj iwyMotor TP (Pool) & D.R. Pool

4739.28 0.63 10628.01 1.46


35597.77 4.71 37477.16 5.15

mM~M;uAviation

10093.90 1.33 11161.04 1.53


8024.56 1.06 8164.60 1.12


14936.71 1.98 14241.27 1.96

LokLF;Health

205385.25 27.16 189875.15 26.07



327

laoxZsegment



FY 2014-15





FY 2013-14



nkf;RoLiability

5089.26 0.67 4513.80 0.62


42195.38 5.58 41742.41 5.73

dqy ldy izhfe;eTotal Gross Premium

756192.79 100 728253.93 100

39. accounting standard 18: Related Party dis-closure:1. Related party disclosures as per Accounting Standard 18

a. subsidiariesThe Industrial Credit Company Limited.

b. associates India International Insurance Pvt. Ltd.,

Singapore Health Insurance TPA of India

c. entities over which control existsi. OICL Staff Provident Fundii. OICL Pension Fundiii. OICL Employees Gratuity Fund

Key Management Personnel: 1. Dr. A.K. Saxena, Chairman-cum-

Managing Director (from 12.06.2012)2. Ms.Rashmi Bajpai, Company Secretary (

from 20.08.2007)3. Ms.K.Ramadevi,General Manager & CFO

( from 23.06.2014 )

39- ys[kkdj.k ekud 18% lacaf/kr i{k izdVu%1- ys[kkdj.k ekud 18 ds vuqlkj lacaf/kr i{k izdVu

d- lgk;d daifu;ka fn baMfLVz;y ØsfMV daiuh fyfeVsM[k- lg;ksxh daifu;ka bafM;k baVjus'kuy ba';ksjsal izkbosV fyfeVsM]

flaxkiqj gsYFk ba';ksjsal Vhih, vkWQ bafM;kx- fudk;] ftu ij fu;a=.k cjdjkj gS

i. vksvkbZlh,y deZpkjh Hkfo"; fuf/kii. vksvkbZlh,y isa'ku fuf/kiii. vksvkbZlh,y deZpkjh minku fuf/k

izeq[k izca/ku dkfeZd%1- MkW- ,-ds- lDlsuk] v/;{k&lg&izca/k funs'kd

¼12-06-2012 ls½2- lqJh jf'e cktis;h] daiuh lfpo ¼20-08-2007

ls½3- lqJh ds jeknsoh] egkizca/kd ,oa lh,Qvks ¼23-

06-2014 ls½


(Rs. in lacs)

Ø-la-sr. no.

laca/k dh izd`frnature of Relationship

dkjksckj dh izd`frnature of transaction

2014-15 2013-14

i) lgk;d daifu;kaSubsidiary

vU; ns; jkf'kOther Amount Due

5.83 5.44

ii) lg;ksxh daifu;kaAssociates

d½ bafM;k baVjus'kuy ba';ksjsal izkbosV fyfeVsM] flaxkiqj%&izkIr ykHkka'k vk; 'ks;jksa esa fuos'ka)India International Insurance Pvt. Ltd., Singapore :-Dividend Income received Investment in shares[k½ gsYFk ba';ksjsal Vhih, vkWQ bafM;k%&'ks;jksa esa fuos'kb) health insurance tPa

of india :-Investment in shares

356.80391.10475.00

233.64391.10237.50

40. leases The company’s office premises and residential

flats for employees are obtained on lease and are renewable/ cancellable at mutual consent. There are no restrictions imposed by lease agreements. Lease terms are based on individual agreements. Significant leasing arrangements are in respect of lease for premises. Aggregate lease rentals amounting to Rs.6214.21 lacs in the current year (previous year Rs.5991.44 lacs) in respect of obligation under lease are charged to Revenue Account in the current year.

40- iV~Vsdaiuh ds dk;kZy; ifjlj ,oa deZpkfj;ksa ds fy, vkoklh; Q~ySV iV~Vs ij fy, x, gSa vkSj vkilh lgefr ls [email protected] fd;k tk ldrk gSA iV~Vk djkjksa }kjk dksbZ cafn'k ugha yxkbZ xbZ gSA iV~Vs ds fu;e vyx&vyx djkjksa ij vk/kkfjr gSaA egRoiw.kZ iV~VktU; le>kSrs ifjljksa ds fy, iV~Vs ds laca/k esa gSaA iV~Vs ds varxZr nkf;Ro ds laca/k esa dqy iV~Vk fdjk;k dh jkf'k 6214-21 yk[k #i, ¼xr o"kZ 5991-44 yk[k #i,½ dks pkyw o"kZ esa jktLo ys[kk esa izHkkfjr fd;k x;k gSA

transactions with related parties :lacaf/kr i{kks ds lkFk laO;ogkj%



329

41- ys[kkdj.k ekud 20& ^îzfr 'ks;j vk;**%¼yk[k #i, esa½

31-03-15 dks 31-03-14 dks

Net Profit attributable to Shareholders (Rs. in Lacs)

39209.52 46028.73


20,00,00,000 15,00,00,000


19.60 30.69

42- ys[kkdj.k ekud 22

fiNyh gkfu;ksa dks vkxs yk, tkus ds dkj.k vkLFkfxr dj ifjlaifRr c<+ jgh gS ftl ij Hkkoh ykHk dh vfuf'prrk ds dkj.k daiuh }kjk fopkj ugha fd;k x;k gSA

43- ys[kkdj.k ekud 28

ys[kkdj.k ekud 28 ds vuqlkj izca/ku us ifjlaifRr;ksa dh gkfu dh laHkkouk dk vkdyu fd;k gS vkSj LFkk;h ifjlaifRr;ksa ds ewY; esa dksbZ folaxfr ugha ikbZ xbZ gSA

44- iquchZek Lohd`fr ls lacaf/kr ¼ys[kkdj.k uhfr la[;k 5-1 d ii esa ns[ksa½ cdk;k nkok izko/kkuksa ds laca/k esa o"kZ ds nkSjku fuEufyf[kr frfFk;ksa dks viuk;k x;k%

1- Hkkjrh; O;olk; ds laca/k esa foRrh; foo.kksa dks vafre :i nsus dh frfFk rd ¼ys[kkdj.k uhfr 4-2-½

2- fons'kh O;olk; ds laca/k esa%

(i) o"kZ ds var rd gq, leLr uqdlku ,oa mlds rRdky ckn vkus okys o"kZ esa 30 vizSy rd izkIr lwpukA

(ii) fujLr laf/k;ksa ds ekeys esa 15 ebZ vFkok ys[kksa dks vafre :i nsus dh frfFk tks Hkh igy gks] rd izkIr iquchZek okilh esa ;Fkk lwfpr fons'kh daifu;ksa }kjk fuiVk, x, nkoksa dks cdk;k nkoksa ds :i esa ekuk tk,xkA

45- daiuh chek vf/kfu;e dh /kkjk 3 d ds lkFk iBuh;

41. accounting standard 20 – “earnings Per share”:

(Rs. in lacs)as at

31.03.2015as at

31.03.2014Net Profit attributable to Shareholders (Rs. in Lacs)

39209.52 46028.73


20,00,00,000 15,00,00,000


19.60 30.69

42. accounting standard 22In view of brought forward Losses, the Deferred Tax Assets is emerging which has not been considered by the company due to uncertainty of future profits.

43. accounting standard 28In accordance with Accounting Standard-28, the Management has assessed the possibility of impairment of assets and there is no impairment in the value of fixed assets.

44. in respect of outstanding claim provisions relating to reinsurance acceptances (Refer accounting Policy no.5.1.a.ii), the following dates were adopted during the year:

1. In respect on Indian business up to the date of finalization of financial statement (Accounting Policy 4.2.)

2. In respect on Foreign business:

(i) All losses incurred up to the year-end and communications received up to 30th April of the immediately succeeding year.

(ii) In the case of cancelled treaties, claims paid by the foreign companies as reported in reinsurance returns received up to 15th May or finalization of accounts


which ever is earlier, was considered as outstanding claims.

45. the Company has complied with the provisions of section 3 read with section 3a of the insurance act, 1938, and the notification dated 23 rd March, 2015 under the insurance laws (amendment) act,2015.

46. The information as to amount due to suppliers under the Micro, Small and Medium Enterprises Development Act 2006 is not readily available with the company and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/ payable as required under the said Act have not been given.

47. Details of penal actions taken by the various Government Authorities during the year are as under:

/kkjk 3 vkSj chek dkuwu ¼la'kks/ku½ vf/kfu;e] 2015 ds v/khu 23 ekpZ 2015 dh vf/klwpuk ds izko/kkuksa dk vuqikyu fd;k gSA

46- lw{e] y?kq vkSj e/;e m|e fodkl vf/kfu;e] 2006 ds varxZr vkiwfrZdrkZvksa dks ns; jkf'k ls lacaf/kr lwpuk daiuh ds ikl rS;kj :i ls miyC/k ugha gS vksj blfy, mDr vf/kfu;e ds rgr vko';d Hkqxrs;@Hkqxrku ;ksX; C;kt ds lkFk&lkFk o"kZ ds var esa xSj pqdrk jkf'k] ;fn dksbZ gks] ds laca/k esa dksbZ izdVu ugha fd;k x;k gSA

47- o"kZ ds nkSjku fofHkUu ljdkjh izkf/kdj.kksa }kjk dh xbZ naMkRed dkjZokbZ dk fooj.k uhps fn;k x;k gS%

Ø-la-sl.no.

izkf/kdj.kauthority


yxk;k x;k naMPenalty awarded

pqdrk naMPenalty Paid

naM ekQh@dehPenalty

waived/reduced

2014-15 2013-14 2014-15 2013-14 2014-15 2013-14 1 vkbZvkjMh,

IRDAIVuuqikyuNon Compliance

'kwU;NIL

5 'kwU;NIL

5 'kwU; NIL

'kwU;NIL

2 lsok dj izkf/kdj.kService Tax Authorities

lsok dj foHkkx dh ys[kk ijh{kk fjiksVZ ij vk/kkfjr foHkkx }kjk dh xbZ lsok dj dh ekaxService Tax demand raised by Dept based on Audit Report of Service Tax Dept

'kwU; NIL

'kwU;NIL

'kwU; NIL

'kwU;NIL

'kwU; NIL

'kwU;NIL

3 lsok dj izkf/kdj.kIncome Tax Authorities

vk;dj vf/kfu;e] 1961 dh /kkjk 271¼1½¼x½ ds rgr tqekZukPenalty under Section 271(1)(c) of I.. Tax Act, 1961

19.60 17396.03 9289.30 6304.62* #

'kwU; NIL

'kwU;NIL



331

Ø-la-sl.no.

izkf/kdj.kauthority




naM ekQh@dehPenalty

waived/reduced

2014-15 2013-14 2014-15 2013-14 2014-15 2013-14 4 dksbZ vU; dj

izkf/kdj.kAny other Tax Authorities

'kwU; NIL

'kwU;NIL

'kwU; NIL

'kwU;NIL

'kwU; NIL

'kwU;NIL

5 izorZu funs'kky;@ vf/kfu.kZ; izkf/kdj.k@ vFkok ,QbZ,e, vFkkZr Qsek ds varxZr dksbZ izkf/kdj.kEnforcement Directorate/Adjudicating Authority/Tribunal or any Authority under FEMA

'kwU; NIL

'kwU;NIL

'kwU; NIL

'kwU;NIL

'kwU; NIL

'kwU;NIL

6 vkjvkslh@lh,ych@ ,elh,ROC/CLB/MCA

oS/kkfud lhek rd pqdrk iw¡th ugha tqVkukNot raising Paid up Capital to Statutory limit

'kwU; NIL

'kwU;NIL

'kwU; NIL

'kwU;NIL

'kwU; NIL

'kwU;NIL


Ø-la-sl.no.

izkf/kdj.kauthority




naM ekQh@dehPenalty

waived/reduced

2014-15 2013-14 2014-15 2013-14 2014-15 2013-14 7 nkok fuiVku

lfgr ysfdu {kfriwfrZ dks NksM+rs gq, fdlh ekeys ds laca/k esa fdlh U;k;ky;@ vf/kdj.k }kjk yx;k x;k naMPenalty awarded by any Court/Tribunal for any matter including claim settlement but excluding compensation

NIL 9 NIL 9 NIL NIL

8 Hkkjrh; izfrHkwfr ,oa fofue; cksMZSecurities and Exchange Board of India


9 Hkkjrh; izfrLi/kkZ vk;ksxCompetition Commission of India

NIL NIL NIL NIL NIL

10 dksbZ vU; dsanzh;@jkT;@LFkkuh; ljdkj@lkafof/kd izkf/kdj.kAny other Central/State/LocalGovernment/Statutory Authority

'kwU; NIL

'kwU; NIL

'kwU; NIL

'kwU; NIL

'kwU; NIL

'kwU; NIL

* 6304-62 yk[k #i, esa vk; dj izkf/kdj.k] ubZ fnYyh }kjk ns; dj okilh ls olwy fd, x, 5099 yk[k #i, 'kkfey gSa vkSj daiuh us bldk fojks/k fd;k gSA blesa daiuh }kjk vkbZVh,Vh ds LFkxukns'k ds laca/k esa Hkqxrku fd, x, 12 djksM+ #i, Hkh 'kkfey gSaA

#9289-30 yk[k #i, esa fiNys o"kZ 2013&14 esa yxk, x, tqekZus ds 9281-31 yk[k #i, 'kkfey gSa tks vkdyu o"kZ 2005&06 ds fy, 8916-28 yk[k #i, vkSj vkdyu o"kZ 2004&05 ds fy, 365-03 yk[k #i, curk gSA



333

* Rs.6304.62 lacs includes Rs.5099 lacs recovered by the Income Tax Authority,New Delhi,from tax refunds due and has been protested by the Company. It also includes Rs.12 crores paid by the Company against stay order by ITAT.

# Rs.9289.30 lacs includes Rs.9281.31 lacs penalty awarded in the previous year 2013-14 amounting to Rs,8916.28 lacs for the A.Y. 2005-06 and Rs.365.03 lacs for the A.Y 2004-05.

48- ikWfylh/kkjdksa dk cdk;k%ikWfylh /kkjdksa dk mez&okj fo'ys"k.k uhps fn;k x;k gS:cdk;k

48. Policyholders dues: Age wise analysis of Policyholders dues is given hereunder: outstanding

(Rs. in lacs)

fooj.kParticulars

3 ekg rd

Upto 3 months

4&12 ekg

4-12 months

13&18 ekg

13-18 months

19&24 ekg

19-24 months

25&30 ekg

25-30 months

31&36 ekg

31-36 months

> 36 ekg

> 36 months

dqytotal

d- nkos dk fuiVku exj ikWfylh /kkjdksa@chferksa dks fdlh dkj.k ls Hkqxrku ugha ftlesa chferksa@ikWfylh /kkjdksa ls eqdnesckth ds rgr dkj.k 'kkfey ugha gSaAA. Claim settled but not paid to the Policyholders / insured due to any reasons except under litigation from the insured / policyholders.

12.20 0 0 0 0 0 21.54 33.74

[k- izhfe;e dj ;k fdlh vU; 'kqYd dh dksbZ vf/kd olwyh tks ikWfylh /kkjdksa dks ;k rks ikWfylh ds fu;eksa&'krksZa ds vuq:i ;k dkuwu ds eqrkfcd vFkok izkf/kdj.k ds funsZ'k ds rgr ykSVkus ;ksX; gS exj vc rd ykSVkbZ ugha xbZ gSB. Any excess collection of premium / tax or any other charges which is refundable to the policyholder/s either as per term of conditions of the policy or as per law or as per the direction of the Authority but not refundable so far.

184.19 162.54 147.61 141.18 140.00 139.48 1570.38 2485.38


x- ikWfylh dh le;kof/k iwjh gksus ;k fdlh vU; vk/kkj ij chfer O;fDr;ksa@ ikWfylh/kkjdksa dks ns;@Hkqxrs; dksbZ vU; jkf'kC. Any other sum due / payable to the insured / policyholders on completion of the policy terms or otherwise.

13.81 6.18 1.96 2.51 1.88 0.66 17.56 44.56

^d^] ^[k^ ;k ^x^ ds varxZr daiuh }kjk psd tkjh fd, x, ysfdu ikWfylh /kkjdksa@chfer O;fDr;ksa }kjk mu psdksa dks ugha Hkquk;k x;k gSD. Cheques issued by the company under “A”, “B” or “C” and cheques have not been encashed by the policyholders/ insured.

1064.44 232.52 152.30 124.70 129.70 141.47 1651.70 3496.83

Total 1274.64 401.24 301.87 268.39 271.58 281.61 3261.18 6060.51

Notes:-

1. Cheques issued to policyholders and not encashed for less than 3 months are not transferred to policyholders dues as these cheques have not become stale. However, the amounts are shown in the above statement.

2. Claims settled but not paid are not transferred to policyholders dues as these claims have been provided for as outstanding claims. However, the amounts are shown in the above statement.

49. A provision for a sum of Rs.327 lacs has been made at HO under the head “Reserve for bad and doubtful debts” as on 31.03.2015 towards misappropriation of funds in one of the Divisional Offices.

50. The Company has introduced Integrated Non Life Insurance Application Software (INLIAS) which has not been fully implemented as some Modules, such as Head Office Accounts Consolidation Module, GUC Module and

fVIif.k;ka%&

1- ikWfylh /kkjdksa dks tkjh fd, x, ,sls psd ftUgsa 3 eghus ds Hkhrj ugha Hkquk;k x;k] mUgsa ikWfylh /kkjdksa ds cdk, gsrq LFkkukarfjr ugha fd;k tkrk gS D;ksafd os psd iqjkus ugha gq, gSaA ysfdu mudh jkf'k mi;qZDr fooj.k esa n'kkZbZ xbZ gSA

2- fuiVk, x, nkos ds rgr Hkqxrku ugha gksus ds ekeys ikWfylh/kkjdksa ds cdk, esa LFkkukarfjr ugha fd, x, gSa D;ksafd bu nkoksa ds fy, cdk;k nkos ds rkSj ij gh izko/kku fd;k x;k gSA ysfdu budh jkf'k;ka mi;qZDr fooj.k esa n'kkZbZ xbZ gSA

49- izHkkxh; dk;kZy;ksa esa ls ,d esa ls fuf/k ds nqfoZfu;kstu ds laca/k esa 31-03-2015 dh fLFkfr ds vuqlkj 'kh"kZ ^^v'kks/; vkSj lafnX/k _.kksa ds fy, vkjf{kr^^ ds varxZr iz/kku dk;kZy; esa 327 yk[k #i, dh jkf'k dk izko/kku fd;k x;k gSA

50- daiuh }kjk ,dhd`r ukWu ykbQ ba';ksjsal ,Iyhds'ku



335

Re- insurance Accounts Module which are under development/testing. Company is taking necessary steps for implementation of remaining Modules in INLIAS.

51. As per the provisions of Section 135 of the Companies Act,2013, an amount of Rs. 7.92 crores has been recognized as a separate line item ‘CSR Expenditure’ in the Profit & Loss Account. Out of Rs.7.92 crores actual amount of CSR spent Rs.4.59 crores and the balance of Rs.3.33 crores has been recognized as liability towards CSR activity already undertaken by the Company during the year 2014-15.

lksQ~Vos;j ¼bufy;kl½ vkjaHk fd;k x;k gS fdarq bls vHkh rd iwjh rjg fØ;kfUor ugha fd;k tk ldk gS D;ksafd dqN ekWM~;wYl tSls gsM vkWfQl ,dkmaV~l dalksfyMs'ku ekWM~;wy] th;w,l ekWM~;wy vkSj iquchZek [kkr ekWM~;wy vHkh fodkl@ijh{k.k ds nkSj esa gSaA daiuh bufy;kl esa 'ks"k ekWM~;wYl ds fØ;kUo;u gsrq vko';d dn mBk jgh gSA

51- daiuh vf/kfu;e] 2013 dh /kkjk 135 ds izko/kkuksa ds vuqlkj] 7-92 djksM+ #i, dh /kujkf'k dks ykHk ,oa gkfu [kkrs esa ^lh,lvkj O;;^ uked i`Fkd ykbu vkbVe ds :i esa ntZ fd;k x;k gSA 7-92 djksM+ #i, dh jkf'k esa ls lh,lvkj O;; dh dqy jkf'k 4-59 djksM+ #i, gS vkSj 'ks"k 3-33 djksM+ #i, dks o"kZ 2014&15 ds nkSjku daiuh }kjk pykbZ xbZ lh,lvkj xfrfof/k ds :i esa ntZ fd;k x;k gSA














(Rs. in lacs)





d- izpkyfud xfrfof/k;ksa ls udn izokgA. Cash Flow from the operating activities1. ikWfylh/kkjdksa ls izkIr izhfe;e] vfxze izkfIr;ksa lfgr

Premium received from policyholders, including advance receipts

79947241 76997799

2. vU; izkfIr;ka ¼fuoy½Other receipts (net)

5543652 5780394

3. iquchZekdrkZvksa dks Hkqxrku] deh'kuksa vkSj nkoksa ls fuoyPayments to reinsurers, net of commissions and claims

-3822448 -2659670

4. lgchekdrkZvksa dks Hkqxrku] nkokas dh olwyh ls fuoyPayments to coinsurers, net of claims recovery

-1210782 -11986032

5. nkoksa dk HkqxrkuPayments of claims

' -58607119 -54652862

6. deh'ku vkSj czksdjst dk HkqxrkuPayments of commission and brokerage

-5105835 -5377584

7. vU; izpkyfud [kpksZa dk HkqxrkuPayments of other operating expenses

-20470300 -15549634

8. izkjafHkd vkSj izpkyu&iwoZ [kpsZPreliminary and pre-operative expenses

0 0

9. tek jkf'k;ka] vfxze vkSj deZpkjh _.kDeposits, advances and staff loans

-254016 577826

10. pqdrk vk; dj ¼fuoy½Income taxes paid (net)

-3190982 -2204596

11: ,df=r@pqdrk lsok dj ¼fuoy½Service tax collected/paid (net)

829062 1141018

12. vU; Hkqxrku ¼fuoy½Other payments (Net)

0 0

fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM31 ekpZ] 2015 dks lekIr o"kZ ds fy, lesfdr izkfIr ,oa Hkqxrku ys[kk ¼vFkkZr~ udn izokg fooj.kh½the oRiental insURanCe CoMPanY liMitedConsolidated ReCeiPts and PaYMents aCCoUnt (i.e. Cash FloW stateMent) FoR the YeaR ending 31st MaRCh, 2015



337





13. vlk/kkj.k enksa ls iwoZ udn izokgCash flow before extraordinary items

-6341527 -7933341

14. vlk/kkj.k izpkyuksa ls udn izokgCash flow from extraordinary operations

15. izpkyfud xfrfof/k;ksa ls fuoy udn izokgNet cash flow from operating activities

-6341527 . -7933341

[k fuos'k xfrfof/k;ksa ls udn izokg' B. Cash Flow from investing activities1. LFkk;h ifjlEifRr;ksa dh [kjhn ¼fuoy½

Purchase of fixed assets(net)-483794 -566274

2. LFkk;h ifjlEifRr;ksa dh fcØh ls vkxeProceeds from sale of fixed assets

29845 46899

3. fuos'kksa dh [kjhnPurchase of investments

-82121405 -13005969

4. forfjr _.kLoans disbursed

0 0

5. fuos'kksa dh fcØhSales of investments

11175154 10984596

6. izkIr iqu%HkqxrkuRepayments received

70647222 3737343

7. izkIr fdjk;s@C;kt@ykHkka'kRents/Interests/Dividends received

10387854 10530389

8. /ku cktkj fy[krksa vkSj udn E;qpqvy fuf/k;ksa esa fuos'k ¼fuoy½Investments in money market instruments & liquid n

0 -458900

9. fuos'kksa ls lacaf/kr [kpsZExpenses relating to investments

-40369 -32551

10. fuos'k xfrfof/k;ksa ls fuoy udn izokgNet cashflow from the investing activities

9594507 11235533

xC.

foRrh; xfrfof/k;ksa ls udn izokgCash Flow from financing activities

1. 'ks;j iwath ds fuxZe ls vkxeProceeds from issuance of share capital

23750 23750

2. m/kkj jkf'k ls vkxeProceeds from borrowing

0 0

3. m/kkj jkf'k dh pqdkSrhRepayments of borrowing

0 0

4. pqdrk C;kt@ykHkka'k ¼forj.k dj lfgr½Interest/dividends (including distribution tax) paid

-1263507 -1246000






5. foRrh; xfrfof/k;ksa ls fuoy udn izokgNet cash flow from the financing activities

-1239757 -1222250

?kD.

udn vkSj udn lerqY;ksa ij fons'kh eqnzk dk izHkko ¼fuoy½Effect of foreign exchange rates on cash and Cc

M-E.

udn vkSj udn lerqY;ksa esa fuoy o`f)(+)@deh(-)Net increase(+)/decrease(-) in cash and cash eq

2013076 2185766

1. o"kZ ds izkjaHk esa udn vkSj udn lerqY;Cash and cash equivalents at the beginning of the >

22281050 20095284

2. o"kZ ds var esa udn vkSj udn lerqY;Cash and cash equivalents at the end of the year

24294126 22281050

Notes: 1. (+) figure represents inflow and (-) figure

represents outflow 2. Figures of previous year have been regrouped

wherever necessary, in view of change in the format as per IRDAI Master Circular date 05.10.2012 effective from 01.04.2013.

fVIif.k;ka% 1- vkd`fr (+)var% izokg dks vkSj vkd`fr (-) cfgizZokg dks

n'kkZrh gSaA2- vkbZvkjMh,vkbZ ds fnukad 01-04-2013 ls ykxw fnukad

05-10-2012 ds ekLVj ifji= ds nf"Vxr xr o"kZ ds vkadM+ksa dks vko';drkuqlkj iqu%lewgc) fd;k x;k gSA
















339

fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMrqyu i= ds m)j.k vkSj dEiuh dh lkekU; :ijs[kk the oRiental insURanCe CoMPanY liMitedBalanCe sheet aBstRaCt and CoMPanY’s geneRal PRoFile

i. iathdj.k dk C;kSjki. RegistRation detailsiathdj.k la[;k jkT; dksMRegistration Number 00556 State Code 55rqyu i= dh rkjh[kBalance Sheet Date 31.03.2015

ii. o"kZ ds nkSjku tqVkbZ xbZ iwath ¼jkf'k gtkj #i, esa½ii. CaPital Raised dURing the YeaR(aMoUnt in Rs. thoUsands)lkoZtfud fuxZe 'kwU; jkbV fuxZe 'kwU; Public Issue NIL Right Issue NILcksul fuxZe 'kwU; futh fu;kstu 'kwU; Bonus Issue NIL Private Placement NIL

iii. fuf/k;ksa ds lapyu vkSj fu;kstuk dh fLFkfr ¼jkf'k gtkj #i, esa½iii. Position oF MoBilisation and dePloYMent oF FUnds (aMoUnt in Rs. thoUsands)dqy nsunkfj;ka dqy ifjlEifRr;kaTotal Liabilities 129084599 Total Assets 129084599

fuf/k;ksa ds lzksrsource of FundsiznRr iwath vkjf{kfr;ka vkSj vf/k'ks"kPaid up Capital 2000000 Reserve& Surpluspkyw nsunkfj;ka vkSj fLFkfr vkSj mfpr ewY; ifjorZuCurrent Liabilities & Provision 133742300 and Fair Value Change 127084599

fuf/k;ksa dh iz;ksT;rkapplication of Fundsfuoy LFkk;h ifjlEifRr;ka fuos'kNet Fixed Assets 1580840 Investments 208442369fuoy pkyw ifjlEifRr;ka fofo/k O;;Net Current Assets 52803690 Misc. Expenditure 0Accumulated Losses Nil


iv. dEiuh dk fu"iknu ¼jkf'k gtkj #i, esa½iv. PeRFoRManCe oF CoMPanY ( aMoUnt in Rs. thoUsands)VuZvksoj dqy O;;Turnover 64723871 Total Expenditure 79585299dj iwoZ ykHk@gkfu dj i'pkr ykHk@gkfuProfit/Loss before Tax 6173373 Profit/Loss after Tax 3908623 ykHkka'k Dividend 1100000

v. dEiuh ds rhu izeq[k mRiknksa@lsokvksa ds lkekU; ¼tsufjd) uke ¼ekSfnzd 'kCnkoyh ds vuqlkj)v. geneRiC naMes oF thRee PRinCiPal PRodUCts/seRviCes oF Co. (as PeR MonetaRY teRMs)en dksM la[;k 'kwU;Items Code No. NILmRikn dk fooj.k xSj&thou chek dkjksckjProduct Description Non Life Insurance Business LFkku% ubZ fnYyhPlace: New Delhifnukad% 15.05.2015dated: 15.05.2015 Mk- ,-ds- lDlsuk


dr. a. K. saxena(Chairman cum managing Director)

,u- Jhfuokl jkon.sRinivasa Rao

dqynhi flagKUldiP singh

lqt; cuthZ

sUJaY BanaRJi¼funs'kd½

(Directors)



341

fn baMLVªh;y ØsfMV dEiuh fyfeVsMthe indUstRial

CRedit CoMPanY liMited


gentlemen,

The Directors present their 85th Annual Report and the Audited Accounts and the Balance Sheet for the year ended 31st March, 2015.

FinanCial ResUlts & oPeRational RevieW

The Company did not transact any business during the year. The loss for the year under review as per the Profit & Loss account is Rs. 6,827/- and the total carried forward loss at the end of the year is Rs.6,58,787/-.

ReseRves

As there was no business undertaken during the year no amount has been transferred to Reserve.

dividend

In view of carry forward losses, your Directors do not recommend payment of any dividend or transfer of any funds to reserves for the year ended on 31st March, 2015.

shaRe CaPital

The paid up equity capital as on 31st March, 2015, was Rs. 5,00,000/- (Rs. Five lakhs only) divided into 5000 Equity shares of Rs. 100/- each. The Company did not issue any fresh shares during the year under review.

FinanCe

Cash and cash equivalents as at 31st March, 2015, was Rs. 433,225/-.

FiXed dePosits

The Company has not accepted any deposits from the public, hence there is no such unclaimed or unpaid deposit.

MateRial Changes and CoMMitMents, iF anY, aFFeCting the FinanCial Position oF the CoMPanY WhiCh have oCCURRed BetWeen the end oF the FinanCial YeaR oF the CoMPanY to WhiCh the FinanCial stateMents Relate and the date oF the RePoRt

NIL

details oF signiFiCant and MateRial oRdeRs

RePoRt oF the diReCtoRs oF the indUs-tRial CRedit CoMPanY ltd.

fn baMLVzh; ØsfMV dEiuh fyfeVsM ds funs'kdkas dk izfrosnu

lTtuksa]funs'kd fnukad 31 ekpZ 2015 dks lekIr o"kZ ds fy, viuk 85oka izfrosnu vkSj ys[kk ijhf{kr ys[ks vkSj rqyu i= izLrqr djrs gSaA

foRrh; ifj.kke vkSj izpkyfud leh{kkdEiuh us o"kZ ds nkSjku dksbZ dkjksckj ugha fd;kA ykHk gkfu ys[ks ds vuqlkj leh{kk/khu o"kZ ds fy, gkfu #- 6]827@& gS vkSj o"kZ ds var esa vkxs ys tkbZ xbZ dqy gkfu #- 6]58]787@& gSA

vkjf{kfr;kapwafd o"kZ ds nkSjku dksbZ dkjksckj ugha fd;k x;k vr% vkjf{kfr esa dksbZ /kujkf'k varfjr ugha dh xbZ gSA

ykHkka'kvkxs ys tkbZ xbZ gkfu;ksa dks ns[krs vq,] vkids funs'kdfnukad 31 ekpZ 2015 dks lekIr o"kZ ds fy, fdlh Hkh ykHkka'k ds Hkqxrku ;k fdlh fuf/k ds varj.k dh flQkfj'k ugha djrs gSaA

'ks;j iwathfnukad 31 ekpZ 2015 dks iznRr bfDoVh iwath #- 5]00]000@&¼ek= ikap yk[k #i,½ Fkh tkss #- 100@& izR;sd ds 5000 bfDoVh 'ks;jksa esa foHkkftr FkhA dEiuh us leh{kk/khu o"kZ ds nkSjku dksbZ u, 'ks;j tkjh ugha fd,A

foRrfnukad31 ekpZ] 2015 dks udn vkSj udn lerqY; #- 433]225@& FksA

LFkk;h tekdEiuh us turk ls dksbZ tek jkf'k izkIr ugha dh gS] vr% ,slh dksbZ vnkoh ;k vnRr tek ugha gSA

dEiuh dh foRrh; fLFkfr dks izHkkfor djus okys egRoiw.kZ ifjorZu vkSj izfrc)rk,a] ;fn dksbZ gksa] tks ml dEiuh ds for o"kZ ds var vkSj izfrosnu dh rkjh[k ds chp /kfVr gq, gksa ftlls ;s foRrh; foojf.kdk,a lacaf/kr gSa

'kwU;mYys[kuh; vkSj egRoiw.kZ vkns'kksa dk C;kSjk



343

Passed BY the RegUlatoRs oR CoURts oR tRiBUnals iMPaCting the going ConCeRn statUs and CoMPanY’s oPeRations in FUtURe

NIL

PaRtiCUlaRs oF loans, gUaRantees oR investMents

The Company has not given any loans or guarantees under the provisions of Section 186 of the Companies Act, 2013.

The details of the investments made by the Company are given in the financial statements

inteRnal ContRol, sYsteMs and theiR adeQUaCY

The provisions of the Companies Act, 2013 regarding Internal Control, Systems and Adequacy are not applicable to the Company as the Company is not doing any active business.

CoRPoRate soCial ResPonsiBilitY initiatives

The provisions of the Companies Act, 2013 regarding Corporate Social Responsibility are not applicable to the Company.

ConseRvation oF eneRgY, teChnologY aBsoRPtion

The provisions of the Companies Act, 2013 regarding conservation of energy, technology absorption are not applicable to the Company, as it is a finance company and not doing any active business also.

FoReign eXChange eaRnings and oUtgo

During the year under review there was no foreign exchange earnings or out flow.

ManageMent oF the CoMPanY

The Company was managed by the Directors who are nominees of The Oriental Insurance Company Limited (Holding Company). The administrative services are lent by The Oriental Insurance Company Limited.

diReCtoRs

Shri P.Senthilkumar, Director retires by rotation at the forthcoming Annual General Meeting. Mr. Senthilkumar has expressed his unwillingness to be re

fofu;kedksa ;k U;k;ky;ksa ;k U;k;kf/kdj.kksa }kjk dEiuh ds ykHkdkjh dkjksckj okys laLFkku ds ntZ vkSj Hkfo"; esa dEiuh ds izpkyuksa dks izHkkfor djus okys mYys[kuh; vkSj egRoiw.kZ vkns'kksa dk C;kSjk

dksbZ ugha

_.kksa] xkjafV;ksa ;k fuos'kksa dk fooj.k

dEiuh us dEiuh vf/kfu;e, 2013 dh /kkjk 186 ds izko/kkuksa ds varxZr dksbZ _.k ;k xkjaVh iznku ugha dh gSA

dEiuh }kjk fd, x, fuos'kksa dk C;kSjk foRrh; foojf.kdkvksa esa fn;k x;k gSA

vkarfjd fu;a=.k] iz.kkfy;ka vkSj i;kZIrrk

vkarfjd fu;a=.k] iz.kkfy;ka vkSj i;kZIrrk ls lacaf/kr dEiuh vf/kfu;e ds izko/kku dEiuh, 2013 ij ykxw ugha gksrs D;ksafd dEiuh dksbZ lfØ; dkjksckj ugha dj jgh gSA

fuxfer lkekftd mRrjnkf;Ro laca/kh igysa

fuxfer lkekftd mRrjnkf;Ro ls lacaf/kr dEiuh vf/kfu;e ds izko/kku dEiuh, 2013 ij ykxw ugha gksrsA

mtkZ laj{k.k] izkS|ksfxdh lekos'ku

mtkZ laj{k.k] izkS|ksfxdh lekos'ku lslacaf/kr dEiuh vf/kfu;e ds izko/kku dEiuh, 2013 ij ykxw ugha gksrs D;ksafd ;g ,d foRrh; dEiuh gS vkSj dksbZ lfØ; dkjksckj Hkh ugha dj jgh gSA

fons'kh eqnzk vtZu ,oa ifjO;;

leh{kk/khu o"kZ ds nkSjku dksbZ fons'kh eqnzk vtZu;k ifjO;; ugha gqvkA

dEiuh dk izca/ku

dEiuh dk izca/ku mu funs'kdksa }kjk fd;k tkrk gS tks fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM ¼/kkjd dEiuh½ }kjk ukekafdr gksrs gSaA iz'kklfud lsok,a vksfj,.Vy ba';ksjsal dEiuh fyfeVsM }kjk iznku dh tkrh gSaA

funs'kd

Jh ih- lsafFkydqekj] funs'kd vkxkeh okf"kZd vke lHkk ls jksVs'ku }kjk lsokfuo`Rr gks jgs gSaA Jh ih- lsafFkydqekj us


dEiuh ds funs'kd ds rkSj ij iqu% fu;qDr fd, tkus ij viuh vfuPNk trkbZ gSA

leh{kk/khu o"kZ ds nkSjku fnukad 08-05-2014] 22-07-2014] 05-11-2014 vkSj 05-02-2015 dks funs'kd eaMy dh pkj cSBdsa vk;ksftr dh xbZaA cSBdksa ds chp dk varjky dEiuh vf/kfu;e, 2013 ds v/khu fu/kkZfjr vof/k ds Hkhrj FkkA.

funs'kdksa ds mRrjnkf;ro laca/kh oDrO;%

dEiuh vf/kfu;e] 2013 dh /kkjk 134 ¼5½ ds izko/kkuksa ds vuqlj.k esa] funs'kd ,rn~}kjk mYys[k djrs gSa%&

¼d½ fd okf"kZd ys[kksa dh rS;kjh esa] egRoiw.kZ fopyuksa ds laca/k esa mi;qDr Li"Vhdj.k lfgr iz;ksT; ys[kkdj.k ekunaMksa dk vuqlj.k fd;k x;k gS(

¼[k½ fd funs'kdksa funs'kdksa us ,slh ys[kkadu uhfr;ka pquh gSa vkSj mUgsa lrr :i ls ykxw fd;k vkSj ,sls fu.kZ; rFkk vuqeku yxk, tks fd mfpr vkSj U;k;laxr Fks rkfd foRrh; o"kZ ds var esa daiuh ds dkedkt dh fLFkfr vkSj foRr o"kZ dh lekfaIr ij daiuh ds dkedkt dks ysdj vkSj daiuh ykHk gkfu dh ,d ;FkkFkZ vkSj fu"i{k fLFkfr izLrqr dh tk lds(

¼x½ fd funs'kdksa us daiuh dh ifjlaifRr;ksa dh vfHkj{kk ds fy, vkSj /kks[kk/kM+h vkSj vU; vfu;ferrk,a jksdus vkSj vfHkKkr djus ds mn~ns'; ls bl vf/kfu;e ds izko/kkuksa ds vuqlkj mi;qDr ys[kkadu fjdkWMZ j[kus ds laca/k esa mi;qDr vkSj lehphu /;ku j[kk gS(

¼?k½ fdfuns'kdksa us foRrh; o"kZ gsrq lquke&izfr"Bku vk/kkj ij okf"kZd ys[ks rS;kj fd, gSa; vkSj

¼M-½ fdfuns'kdksa us lHkh iz;ksT; fof/k;ksa ds izko/kku dk vuqikyu lqfuf'pr djus ds fy, mi;qDr iz.kkfy;ka rS;kj dh gSa vkSj ,slh iz.kkfy;ka i;kZIr gSa vkSj izHkkoh :i ls dke dj jgh gSaA

lacaf/kr i{kdkj laO;ogkj

dEiuh vkSj bldh /kkjd dEiuh ds chp laO;ogkjksa dk C;kSjk funs'kdksa ds izfrosnu ds vuqca/k d ds :i esa ,rn~lfgr izi= ,vkslh 2 esa layXu gSA

vuq"kaxh dEifu;ka

dEiuh dh dksbZ vuq"kaxh dEiuh ugha gSA

appointed as Director of the Company.

During the year under review four meetings of the Board of Directors were convened and held on 08.05.2014, 22.07.2014, 05.11.2014 and 05.02.2015. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

diReCtoRs ResPosiBilitY stateMents:

Pursuant to provisions of Sec. 134 (5) of the Companies Act, 2013, the Directors hereby state:-

(a) That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) That the directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for year under review;

(c) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) That the directors had prepared the annual accounts on a going concern basis.

(e) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

Related PaRtY tRansaCtions

The details of transactions between the Company with its Holding Company are attached herewith in Form AOC 2 as Annexure A to the Directors Report.

sUBsidiaRY CoMPanies

The Company does not have any subsidiary.



345

ys[kk ijh[kd

fnukad 31 ekpZ 2015 dks lekIr o"kZ ds fy, Hkkjr ds fu;a=d ,oa egkys[kk ijh{kd] ubZ fnYyh&110 002 }kjk eSllZ prqosZnh ,aM ikVZulZ] pkVZMZ ,dkmaVsaV~l dks dEiuh ds ys[kk ijh{kdksa ds rkSj ij fu;qDr fd;k x;k FkkA mudk izfrosnu foRrh; foojf.kdkvksa ds lkFk layXu gS vksj muds voyksdu Lor% Li"V gSaA

foRrh; fooj.kh dk m)j.k

foRrh; fooj.kh ds m)j.k ds Hkkx dks cukus okyk fooj.k izi= ,ethVh&9 esa cksMZ ds izfrosnu ds lkFk vuqca/k [k* ds rkSj ij layXu gSA

deZpkfj;ksa dk fooj.k

pwafd iz'kklfud lsok,a fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM }kjk iznku dh tkrh gSa] vr% dEiuh dh deZpkjh lwph esa dksbZ deZpkjh ugha gSA

aUditoRs

M/s Chaturvedi & Partners, Chartered Accountants were appointed as Auditors of the Company for the year ended 31st March, 2015 by the Comptroller and Auditor General of India, New Delhi-110 002. Their report is annexed to the financial statements and their observations are self explanatory.

eXtRaCt oF annUal RetURn

The details forming part of the extract of the Annual Return in form MGT-9 is annexed to the Board’s Report as Annexure ‘B’.

PaRtiCUlaRs oF eMPloYees

Since the administrative services are lent by The Oriental Insurance Company Limited, there is no employee on the rolls of the company.

gekjh blh rkjh[k dh layXu fjiksVZ ds vuqlkjAs per our report of even date attached.

d`rs prqosZnh ,aM ikVZulZ pkVZMZ ,dkmaVsaV~ldaiuh iathdj.k la[;k 307068E For ChatURvedi & PaRtneRs.

cksMZ dh vksj lsFoR and on BehalF oF the BoaRd

Chartered AccountantsFirm Registration No. 307068E dqynhi flag

funs'kdKuldip singh

ih- lsafFky dqekjfuns'kdP. senthil Kumar Director

,-ds- feÙkyfuns'kda.K. Mittal DirectorDirector

LFkku% ubZ fnYyhPlace: New Delhifnukad% 11-05-2015Date: 11.05.2015


anneXURe ‘a’

Form no. aoC-2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies

(Accounts) Rules, 2014)

Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of section 188 of the Companies act, 2013 including certain arms length transactions under third proviso thereto

1. Details of contracts or arrangements or transactions not at arm’s length basis - NONE

(a) Name(s) of the related party and nature of relationship

(b) Nature of contracts/arrangements/transactions

(c) Duration of the contracts / arrangements/transactions

(d) Salient terms of the contracts or arrangements or transactions including the value, if any

(e) Justification for entering into such contracts or arrangements or transactions

(f ) date(s) of approval by the Board(g) Amount paid as advances, if any:(h) Date on which the special resolution was

passed in general meeting as required under first proviso to section 188

2. Details of material contracts or arrangement or transactions at arm’s length basis -

(a) Name(s) of the related party and nature of relationship – THE ORIENTAL INSURANCE COMPANY LIMITED, NEW DELHI (OIC -HOLDING COMPANY)

(b) Nature of contracts/arrangements/transactions – All the expenses incurred by the Company are borne by OIC

(c) Duration of the contracts / arrangements/transactions – SINCE 1973.

(d) Salient terms of the contracts or

vuqca/k ^d*QkWeZ la[;k ,vkslh-2

¼vf/kfu;edh /kkjk 134 dh mi&/kkjk ¼3½ ds [kaM vkSj dEiuh ¼ys[kk½ fu;ekoyh] 2014 ds fu;e 8¼2½ ds

vuqlj.k esa½

dEiuh vf/kfu;e, 2013 dh /kkjk 188 dh mi&/kkjk ¼1½ esa lanfHkZr lacaf/kr i{kdkjksa ds lkFk dEiuh }kjk dh xbZ lafonkvksa@djkjksa ds C;kSjs ds izdVhdj.k ds fy, izi= ftlesa bl vf/kfu;e ds rhljs ijarqd ds varxZr dfri; nwjh j[kdj fd, tkus okys /kkfjr laO;ogkj 'kkfey gSa

1- tks lafonk,a ;k le>kSrs ;k laO;ogkj fuf'pr nwjh j[kdj ¼vkElZ ySaFk csfllij½ ugha dh xbZ gSa] mudk C;kSjk&dksbZ ugha

d- lacaf/kr i{k dk ¼ds½ uke vkSj laca/k dh izd`fr[k- lafonkvksa@le>kSrksa@laO;ogkjksa dh izd`frx- lafonkvksa@le>kSrksa@laO;ogkjksa dh vof/k?k- lafonkvksa ;k le>kSrksa ;k laO;ogkjksa dh eq[; 'krsaZ

ftuesa ewY;] ;fn dksbZ gks] Hkh 'kkfey gSM- ,slh lafonkvksa ;k le>kSrksa ;k laO;ogkjksa ds fy,

vkSfpR;p- cksMZ }kjk vuqeksnu] ;fn dksbZ gks] dh rkjh[k

¼rkjh[ksa½N- vfxze ds :i esa vnk dh xbZ jkf'k] ;fn dksbZ gkst- os rkjh[ksa ftu ij vke cSBd esa fo'ks"k ladYi ikfjr

fd, x, Fks] tSlk fd /kkjk 188 ds izFke ijUrq ds v/khu visf{kr gS

2- tks egRoiw.kZ lafonk,a ;k le>kSrs ;k laO;ogkj fuf'pr nwjh j[kdj ¼vkElZ ySaFk csfll ij½ fd, x, gSa] mudk C;kSjk

d- lacaf/kr i{kdkj dk ¼ds½ uke vkSj laca/k dh izd`fr&fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM ¼vksvkbZlh & /kkjd dEiuh½

[k- lafonkvksa@le>kSrksa@laO;ogkjksa dh izd`fr& dEiuh }kjk mixr lHkh [kpZs vksvkbZlh }kjk ogu fd, tkrs gSaA

[k- lafonkvksa@le>kSrksa@laO;ogkjksa dh vof/k&1973 ls

x- lafonkvksa ;k le>kSrksa ;k laO;ogkjksa dh eq[; 'krsaZ ftuesa ewY;] ;fn dksbZ gks] Hkh 'kkfey gS% /kkjd vkSj



347

vuq"kaxh dEiuh ds chp laO;ogkj

?k- cksMZ }kjk vuqeksnu] ;fn dksbZ gks] dh rkjh[k ¼[ksa½ % dksbZ ugha

M- vfxze ds :i esa vnk dh xbZ jkf'k] ;fn dksbZ gks% 'kwU;A vksvkbZlh us fnukad 31-3-2015 rd [kpkZsa ds [kkrs esa #- 5]82]587@& mixr fd, gSa & ys[kkvksa ij fVIif.k;ksa ds vuqlkj

arrangements or transactions including the value, if any: TRANSACTIONS BETWEEN HOLDING & SUBSIDIARY COMPANY

(e) Date(s) of approval by the Board, if any: NONE

(f ) Amount paid as advances, if any: NIL. OIC has incurred Rs. 5,82,587/- on account of expenses till 31.3.2015- AS PER NOTES TO THE ACCOUNTS


i. iathdj.k vkSj vU; fooj.k:i. RegistRation and otheR details:

i) lhvkbZ,u%&CIN :-

U65921dl1930goi000216

ii) iathdj.k dh rkjh[kRegistration Date

5/7/1930

iii) dEiuh dk ukeName Of The Company

fn baMLVªh; ØsfMV dEiuh fyfeVsMTHE INDUSTRIAL CREDIT COMPANY LIMITED

iv) dEiuh dh Js.kh@mi&Js.khCategory/Sub-Category of The Company

ljdkjh dEiuhGOVERNMENT COMPANY

v) iathd`r dk;kZy; dk irk vkSj lEidZ fooj.kAddress of the Registered office and contact details

^vksfj,.Vy gkml*] A-25/27 vklQ vyh jksM] fnYyh&110002Oriental House, A-25/27 Asaf Ali Road, New Delhi 110002

vi) D;k lwphc) dEiuh gSWhether listed company

gka@ughaYes/No

ughano

vii) iath;d vkSj varj.k vfHkdrkZ] ;fn dksbZ gks] dk uke] irk vkSj lEidZ fooj.kName , Address and Contact details of Registrar and Transfer Agent, if any

'kwU;NIL

ii. dEiuh dh izeq[k dkjksckjh xfrfof/k;kadEiuh dh dqy VuZvksoj esa 10% ;k blls vf/kd dk ;ksxnku nsus okyh lHkh dkjksckjh xfrfof/k;ksa dk mYys[k fd;k tk,xk:Aii. PRinCiPal BUsiness aCtivities oF the CoMPanYAll the business activities contributing 10% or more of the total turnover of the company shall be stated:-Ø-la-sl no.

eq[; mRiknksa@lsokvksa dk uke vkSj fooj.kname and description of main

products/services

mRikn@lsok dk ,uvkbZlh dksM

niC Code of the Product/service

dEiuh ds dqy VuZvksoj esa %

% to total turnover of the company

1 foRrh; lsok,aFinancial Services

6499 'kwU;NIL

Form no. Mgt-9eXtRaCt oF annUal RetURnas on the financial year ended

on….31/03/2015[Pursuant to section92(3) of the Companies Act

2013 and rule 12(1) of theCompanies (Management and Administration)

Rules, 2014]

QkWeZ la[;k ,ethVh&9okf"kZd fjVuZ dk m)j.k

fnukad 31 ekpZ] 2015 dks lekIr foRr o"kZ ds vuqlkj¼dEiuh vf/kfu;e 2013 dh /kkjk 92¼3½ vkSj dEiuh ¼izca/ku vkSj iz'kklu½ fu;ekoyh, 2014 ds fu;e 12¼1½2]



349

iii. /kkfjr] vuq"kaxh vkSj lg;ksxh dEifu;ksa dk fooj.k -iii. PaRtiCUlaRs oF holding, sUBsidiaRY and assoCiate CoMPanies-Ø- la-s. no.

dEiuh dk uke vkSj irkname and address of

the Company

lhvkbZ,u@th,y,uCin/gln

/kkfjr@ vuq"kaxh@ lg;ksxh

holding/subsidiary/

associate

/kkfjr 'ks;jksa dk

%% of

shares held

iz;ksT; /kkjkapplicable

section

1 fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM

THE ORIENTAL INSURANCE COMPANY

LIMITED

U66010DL1947GOI007158 /kkjdHOLDING

100% /kkjk 2¼46½Sec 2(46)

iv. 'ks;j /kkfjrk i)fr¼dqy bfDoVh ds izfr'kr ds :i esa bfDoVh 'ks;j iwath dk C;kSjk½i) Js.kh&okj 'ks;j /kkfjrkiv. shaRe holding PatteRn(equity share Capital Breakup as percentage of total equity)i) Category-wise Share Holding

'ks;j/kkjdksa dh Js.khCategory of shareholders

o"kZ ds izkjaHk esa /kkfjr 'ks;jksa dh la[;kno. of shares held at the beginning of

the year

o"kZ ds var esa /kkfjr 'ks;jksa dh la[;kno. of shares held at the end of the year

o"kZ ds nkSjku ifjorZu %%Change during the year

MhesVdemat

okLrfodphysical

dqytotal


MhesVdemat

okLrfodphysical

dqytotal


d- izeksVja. Promoters¼1½ Hkkjrh;(1) indiand½ ,dy@,p;w,Qa) Individual/HUF

0 0 0 0 0

[k½ dsanzh; ljdkjb) Central Govt.

0 0 0 0 0

x½ jkT; ljdkj ¼ljdkjsa½c) State Govt(s)

0 0 0 0 0

?k½ fuxfer fudk;d) Bodies Corp.

5000 5000 100 5000 5000 100 0


M+½ cSad@foRrh; laLFkkue) Banks/ FI

0 0 0 0 0

p½ dksbZ vU;f ) Any Other

0 0 0 0 0

mi&;ksx ¼d½¼1½%&sub-total (a) (1):-

5000 5000 100 0 5000 5000 100 0

¼2½ fons'kh(2) Foreignd½ ,uvkjvkbZ- ,dya) NRIs- Individuals

0 0 0 0 0 0 0

[k½ vU;&,dyb) Other-Individuals

0 0 0 0 0 0 0

x½ fuxfer fudk;c) Bodies Corp.

0 0 0 0 0 0 0

?k½ cSad@foRrh; laLFkkud) Banks/FI

0 0 0 0 0 0 0

M+½ dksbZ vU;e) Any Other..

0 0 0 0 0 0 0

mi&;ksx ¼d½¼2½%&sub-total (a) (2):-

0 0 0 0 0 0 0

izeksVjksa dh dqy 'ks;j/kkfjrktotal shareholding of Promoterd = (d) (1)+(d)(2)a= (a) (1)+(a)(2)

5000 100 0 5000 5000 100 0

[k- lkoZtfud 'ks;j/kkfjrkB. Public shareholding1- laLFkk,a1. institutionsd½ E;qpqvy QaMa) Mutual Funds

0 0 0 0 0 0 0 0

[k½ cSad@foRrh; laLFkkub) Banks/FI

0 0 0 0 0 0 0 0

x½ dsanzh; ljdkjc) Central Govt

0 0 0 0 0 0 0 0

?k½ jkT; ljdkj ¼ljdkjsa½d) State Govt(s)

0 0 0 0 0 0 0 0

M+½ m|e iwath fuf/k;kae) Venture Capital Funds

0 0 0 0 0 0 0 0

p½ chek dEifu;kaf ) Insurance Companies

0 0 0 0 0 0 0 0 0

N½ ,QvkbZvkbZg) FIIs

0 0 0 0 0 0 0

t½ fons'kh m|e iwath fuf/k;kah) Foreign Venture Capital Funds

0 0 0 0 0 0 0

i½ vU; ¼fofufnZ"V djsa½i) Others (Specify)

0 0 0 0 0 0 0

mi&;ksx ¼[k½¼1½%&sub-total (B) (1):-

0 0 0 0 0 0 0 0

2- xSj&laLFkk,a2. non-institutions



351

d½ fuxfer fudk;a) Bodies Corp.i) Hkkjrh;i) Indian

0 0 0 0 0 0 0 0

ii) ikjleqnzhii) Overseas

0 0 0 0 0 0 0 0

0[k½ O;fDrxrb) Individuals

0

0i) #- 1 yk[k rd dh lkadsfrd 'ks;j iwath /kkfjr djus okys ,dy 'ks;j/kkjdi) Individual Shareholders holding nominal share capital upto Rs. 1 Lakh

0 0 0 0 0 0 0 0

ii) #- 1 yk[k ls vf/kd lkadsfrd 'ks;j iwath /kkfjr djus okys ,dy 'ks;j/kkjdii) Individual Shareholders holding nominal share capital in excess of Rs. 1 Lakh

0 0 0 0 0 0 0 0

0c½ vU; ¼fofufnZ"V djsa½c) Others (specify)

0 0 0 0 0 0 0 0

mi&;ksx ¼[k½ ¼2½%&sub-total (B) (2):-

0 0 0 0 0 0 0 0

dqy lkoZtfud 'ks;j/kkfjrktotal Public shareholding[k= ([k)(1)+([k)(2)B= (B)(1)+(B)(2)

0 0 0 0 0 0 0 0

x- thMhvkj vkSj ,Mhvkj ds fy, dLVksfV;uksa }kjk /kkfjr 'ks;jC. SHARES HELD BY CUSTODIAN FOR GDRs & ADRs

0 0 0 0 0 0 0 0

dqy ;ksxgRand total¼d+[k++x½(a+B+C)

0 5000 100 0 5000 5000 100 0

ii) shareholding of Promoters


'ks;jksa dh la[;kno. of

shares

dEiuh ds dqy 'ks;jksa

dk %% of total

shares of the

company

dqy 'ks;jksa esa ls izfrHkwr@

_.kxzLr 'ks;jksa dk %% of shares

Pledged/encumbered

to total shares

'ks;jksa dh la[;kno. of

shares


dk %% of total

shares of the

company

dqy 'ks;jksa esa ls izfrHkwr@

_.kxzLr 'ks;jksa dk %% of shares

Pledged/encumbered

to total shares

1 fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMThe Oriental Insurance Co Ltd

5000 100 5000 100 0

23

dqyTotal

iii) Change in Promoters' shareholding (Please specify, if there is no change)

Ø- la-sl no.

o"kZ dh 'kq#vkr esa 'ks;j/kkfjrkshareholding at the beginning of

the year

o"kZ ds nksjku lafpr 'ks;j/kkfjrkCumulative shareholding during

the year'ks;jksa dh la[;k

no. of sharesdEiuh ds dqy 'ks;jksa dk %



dEiuh ds dqy 'ks;jksa dk %



5000 100% 5000 100%

o`f)@deh ds dkj.kksa ¼vFkkZr~ [email protected]@cksul@LoSV bfDoVh vkfn½ dks fo'ks"k rkSj ij n'kkZrs gq, o"kZ dsnkSjku izeksVjksa dh 'ks;j/kkfjrk esa rkjh[k&okj o`f)@deh:Date wise increase/Decrease in Promoters Shareholding during the year specifying the reasons for increase/ decrease (e.g. allotment/transfer/bonus/sweat equity etc):

0 0 0 0


5000 100% 5000 100%



353

iv) 'kh"kZ nl 'ks;j/kkjdksa dh 'ks;j/kkfjrk i)fr ¼funs'kdksa] izeksVjksa vkSj thMhvkj vkSj ,Mhvkj ds /kkjdksa dks NksM+dj½%iv) shareholding Pattern of top ten shareholders (other than directors, Promoters and holders of gdRs and adRs):

Ø- la-sl no.

izR;sd 10 'kh"kZ 'ks;j/kkjdksa ds fy,For each of the toP 10 shareholders





'ks;jksa dh la[;k

no. of shares


dk %%of total


'ks;jksa dh la[;k

no. of shares


dk %%of total


1 ukename

fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMthe oRiental insURanCe CoMPanY liMited


5000 100 5000 100

o`f)@deh ds dkj.kksa ¼vFkkZr~ [email protected]@cksul@LoSV bfDoVh vkfn½ dks fo'ks"k rkSj ij n'kkZrs gq, o"kZ dsnkSjku izeksVjksa dh 'ks;j/kkfjrk esa rkjh[k&okj o`f)@deh%Date wise Increase/Decrease in Share holding during the year specifying the reasons for increase/decrease(e.g. allotment/transfer/bonus/sweat equity etc):

0 0 0 0


5000 100 5000 100

v) funs'kdksa vkSj izeq[k izca/kdh; dkfeZdksa ¼ds,eih½ dh 'ks;j/kkfjrk%v) shareholding of directors and Key Managerial Personnel:

Ø- la-sl no.

izR;sd funs'kd vkSj ds,eih ds fy, For each of the directors and KMP




'ks;jksa dh la[;k

no. of shares


dk %%of total


'ks;jksa dh la[;k

no. of shares


dk %%of total




o`f)@deh ds dkj.kksa ¼vFkkZr~ [email protected]@cksul@LoSV bfDoVh vkfn½ dks fo'ks"k rkSj ij n'kkZrs gq, o"kZ dsnkSjku izeksVjksa dh 'ks;j/kkfjrk esa rkjh[k&okj o`f)@deh%Date wise Increase/Decrease in Share holding during the year specifying the reasons for increase/decrease(e.g. allotment/transfer/bonus/sweat equity etc):

0 0 0 0


_.kxzLrrkcdk;k@mifpr fdarq Hkqxrku ds fy, vns; C;kt lfgr dEiuh dh _.kxzLrrkindeBtednessindebtedness of the Company including interest outstanding/ accrued but not due for payment

tek jkf'k;ksa dks NksM+dj izR;kHkwr _.ksecured loans excluding deposits

vizR;kHkwr _.kUnsecured loans

tek jkf'k;kadeposits

dqy _.kxzLrrktotal indebtedness

foRr o"kZ ds izkjEHk esa _.kxzLrrkindebtedness at the beginning of the financial yeari)ewy /kujkf'ki) Principal Amount

0


0

iii)mifpr fdarq vns; C;ktiii) Interest accrued but not due

0

dqy (i+ii+iii)total (i+ii+iii)

0 0 0 0

foRr o"kZ ds nkSjku _.kxzLrrk esa ifjorZuChange in indebtedness during the financial year* tek* Addition

0

* ?kVk* Reduction

0

fuoy ifjorZunet Change

0 0 0 0

foRr o"kZ ds var esa _.kxzLrrkindebtedness at the end of the financial yeari) ewy /kujkf'ki) Principal Amount

0


0

iii)mifpr fdarq vns; C;ktiii) Interest accrued but not due

0

dqy (i+ii+iii)total (i+ii+iii)

0 0 0 0



355

funs'kdksa vkSj izeq[k izca/kdh; dkfeZdksa dk ikfjJfedd- izca/k funs'kd] iw.kZdkfyd funs'kdksa vkSj@;k izca/kd dk ikfjJfed%ReMUneRation oF diReCtoRs and KeY ManageRial PeRsonnelA. Remuneration to Managing Director, Whole-time Directors and/or Manager:

Ø- la-sl no.


izca/k funs'[email protected] funs'kd@izca/kd dk uke

name of Md/Wtd/Manager

dqy jkf'ktotal amount

1 2 3 4 51 ldy osru

Gross salary

¼d½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼1½ esa fufgr izko/kkuksa ds vuqlkj osru(a) Salary as per provisions contained in section 17(1) of the Income Tax Act 1961

0 0 0 0 0 0

¼[k½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼2½ ds v/khu iwokZis{kkvksa dk ewY;(b) Value of perquisites u/s 17(2) of the Income Tax Act 1961

0 0 0 0 0 0


0 0 0 0 0 0


0


0

4 deh'kuCommission

&ykHk ds % ds rkSj ij - as % of Profit

0

&vU;] fofufnZ"V djsa - others, specify

0


0

dqy ¼d½total (a)

0 0 0 0 0 0


v. vf/kfu;e ds vuqlkj lhek[k- vU; funs'kdksa dk ikfjJfed%v. Ceiling as per the actB. Remuneration to Other Directors:Ø- la-sl no.



dqy jkf'ktotal amount

1 2 3 4 51 Lora= funs'kd

independent directors*cksMZ dh lfefr;ksa dh cSBd esa mifLFkr gksus ds fy, 'kqYd*Fee for attending Board committee meetings

0 0 0 0 0 0

*deh'ku*Commission

0 0 0 0 0 0


0 0 0 0 0 0

dqy ¼1½total (1)

0 0 0 0 0 0

2. vU; xSj&dk;Zikyd funs'kdother non-executive directors*cksMZ dh lfefr;ksa dh cSBd esa mifLFkr gksus ds fy, 'kqYd*Fee for attending Board committee meetings

0 0 0 0 0 0

*deh'ku*Commission

0 0 0 0 0 0


0 0 0 0 0 0

dqy ¼2½total (2)

0

dqy ¼[k½=(1+2)total (B)=(1+2)

0 0 0 0 0 0

dqy izca/kdh; ikfjJfedtotal Managerial Remuneration

0 0 0 0 0 0

vf/kfu;e ds vuqlkj lhekCeiling as per the act



357

vi. x- izca/k funs'[email protected] funs'kd@izca/kd ls vU; izeq[k izca/kdh; dkfeZdksa dks ikfjJfedvi. C. Remuneration to Key Managerial Personnel other than Md/Manager/WtdØ- la-sl. no.


izeq[k izca/kdh; dkfeZdKey Managerial Personnel

lhbZvksCeo

dEiuh lfpoCoMPanY

seCRetaRY

lh,Qvks

CFo

dqytotal

1ldy osruGross salary¼d½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼1½ esa fufgr izko/kkuksa ds vuqlkj osru(a) Salary as per provisions contained in section 17(1) of the Income Tax Act 1961

0 0 0 0

¼[k½ vk;dj vf/kfu;e 1961 dh /kkjk 17¼2½ ds v/khu iwokZis{kkvksa dk ewY;(b) Value of perquisites u/s 17(2) of the Income Tax Act 1961

0 0 0 0


0 0 0 0


0 0 0 0


0 0 0 0

4 deh'kuCommission

0 0 0 0

&ykHk ds % ds rkSj ij - as % of Profit

0 0 0 0

&vU;] fofufnZ"V djsa - others, specify

0 0 0 0


0 0 0 0

dqy ¼d½total (a)

0 0 0 0


vf/kdkfj;ksa dh 'kkfLr;ka@naM@dEikmaM%Penalties/ PUnishMent/ CoMPoUnding oF oFFenCes:izdkjtype

dEiuh vf/kfu;e dh /kkjksection of the Companies act

laf{kIr fooj.kBrief description

yxkbZ xbZ 'kkfLr;ksa@naM@ dEikmaM 'kqYd dk C;kSjkdetails of Penalty/ Punishment/Compounding fee imposed

izkf/kdj.k ¼vkjMh@ ,ulh,yVh@ U;k;ky;½authority [Rd/nClt/CoURt]

dh xbZ vihy] ;fn dksbZ gks ¼C;kSjk nsa½appeal made if any (give details)

d- dEiuha. CoMPanY'kkfLrPenalty

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

naMPunishment

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

tCrhCompounding

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

[k. funs'kdB. diReCtoRs'kkfLrPenalty

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

n.MPunishment

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

dEikmafMaxCompounding

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

x½ vU; pwddrkZ vf/kdkjhC. otheR oFFiCeRs in deFaUlt'kkfLrPenalty

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

naMPunishment

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

tCrhCompounding

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL

'kwU;NIL



359

indePendent aUditoRs' RePoRtthe MeMBeRs oF the indUstRial CRedit CoMPanY liMitedRePoRt on the FinanCial stateMentsWe have audited the accompanying financial statements of The Industrial Credit Company Limited ("the Company"), which comprise the Balance sheet as at March 31, 2015, the Statement of profit and loss account and cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial statementsThe Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation and presentation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free frcim material misstatement, whether due to fraud or error.

auditors' ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

Lora= ys[kk ijh{kdksa dk izfrosnufn baMLVªh;y ØsfMV dEiuh fyfeVsM ds lnL;x.kfoRrh; fooj.kksa ij izfrosnu

geus ^fn baMfLVª;y ØsfMV dEiuh fyfeVsM ds layXu foRrh; fooj.kksa dk ys[kk ijh{k.k fd;k gS ftlesa 31 ekpZ] 2015 rd dk rqyu i= vkSj ml le; lekIr o"kZ ds fy, ykHk ,oa gkfu dk fooj.k vkSj udn izokg fooj.k vkSj egRoiw.kZ ys[kkdj.k uhfr;ka vkSj vU; O;k[;kRed lwpuk dk lkjka'k “kkfey gSA

foRrh; fooj.kksa ds fy, izca/ku dk nkf;RodEiuh dk funs'kd eaMy dEiuh ¼ys[ks½ fu;ekoyh, 2014 ds fu;e 7 ds lkFk ifBr vf/kfu;e dh /kkjk 133 ds v/khu ys[kk ekudksa lfgr Hkkjr esa lkekU; rkSj ij Lohd`r ys[kkdj.k fl)karksa ds vuqlkj dEiuh dh foRrh; fLFkfr] foRrh; fu"iknu vkSj udn izokgksa dk lR; vkSj U;k;ksfpr voyksdu nsus okyh bu i`Fkd foRrh; foojf.kdkvksa dks rS;kj djus ds laca/k esa le; le; ij ;Fkk la'kksf/kr dEiuh vf/kfu;e] 2013 dh /kkjk 134¼5½] chek vf/kfu;e] 1938] vkbZvkjMh,vkbZ fofu;ekoyh] 2002 esa mfYyf[kr ekeyksa ds fy, mRrjnk;h gSA bl mRrjnkf;Ro esa dEiuh dh ifjlEifRR;ksa ds laj{k.k ds fy, vkSj /kks[kk/kfM+;ksa rFkk vU; vfu;ferrkvksa ds fuokj.k vkSj igpku djus( lehphu ys[kkdj.k uhfr;ksa ds p;u vkSj bUgas ykxw djus( ,sls fu.kZ; vkSj izkDdyu djus tks fd vkSfpR;iw.kZ vkSj foosdiw.kZ gksa( vkSj i;kZIr vkarfjd fu;a=.k iz.kkfy;ksa dk vkjs[ku] dk;kZUo;u vkSj vuqj{k.k djus ds fy,] tks ys[kkdj.k vfHkys[kksa dh lVhdrk vkSj l{kerk dks lqfuf'pr djus ds fy, izHkkoh :i ls dke dj jgh gksa] vf/kfu;e ds izko/kkuksa ds vuqlkj i;kZIr ys[kkdj.k vfHkys[kksa dk vuqj{k.k Hkh “kkfey gS] tks lR; vkSj U;k;ksfpr voyksdu iznku djus okyh foRrh; foojf.kdkvksa dh rS;kjh vkSj izLrqfrdj.k ds fy, izklafxd gksa vkSj fdlh mYys[kuh; feF;k dFku ls eqDr gksa] pkgs og /kks[ks dh otg ls gks ;k =qfV dh otg ls gqvk gksA

ys[kk ijh{kdksa dk mRrjnkf;Rogekjk mRrjnkf;Ro viuh ys[kk ijh{kk ds vk/kkj ij bu i`Fkd foRrh; foojf.kdkvksa ij ,d er O;Dr djuk gSA geus vf/kfu;e ds izko/kkuksa] vkSj ,sls ys[kkdj.k rFkk ys[kk ijh{kk ekudksa dk /;ku j[kk gS ftUgsa vf/kfu;e vkSj blds v/khu cuk, x, fu;eksa ds izko/kkuksa ds varxZr ys[kk ijh{kk


We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the 1\ct. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also included evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

opinionIn our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31 March 2015 and its loss and its cash flows for the year ended on that date.

emphasis of MattersNote II (a) (2) in the financial statements which indicate that the Company has accumulated losses and its

izfrosnu esa “kkfey fd;k tkuk visf{kr gSA

geus viuh ys[kk ijh{kk vf/kfu;e dh /kkjk 143¼10½ ds v/khu fofufnZ"V ys[kk ijh{kk laca/kh ekudksa ds vuqlkj dh gSA bu ekudksa esa visf{kr gS fd ge uSfrd vis{kkvksa vkSj ;kstuk dk vuqikyu djsa vkSj ;g vkSfpR;iw.kZ vk'ofLr izkIr djus ds fy, ys[kk ijh{kk fu"ikfnr djsa fd D;k ;s foRrh; foojf.kdk,a egRoiw.kZ feF;k dFku ls eqDr gSaA

,d ys[kk ijh{kk esa foRrh; foojf.kdkvksa esa fufgr jkf'k vkSj izdVhdj.kksa ds ckjs esa ys[kk ijh{kk lk{; izkIr djus dh izfØ;k,a fu"ikfnr djuk “kkfey gksrk gSA pquh xbZ izfØ;k,a ys[kk ijh{kd ds fu.kZ; ij fuHkZj djrh gSa] ftuesa foRrh; foojf.kdkvksa esa mYys[kuh; feF;k dFku dk vkdyu fd;k tkuk “kkfey gS] pkgs og /kks[ks dh otg ls gks ;k =qfV dh otg ls gqvk gksA os tksf[ke vkdyu djrs le;] ys[kk ijh{kd dEiuh dh lR; vkSj U;k;ksfpr voyksdu nsus okyh foRrh; foojf.kdkvksa dh rS;kjh ls lacaf/kr vkarfjd foRrh; fu;a=.k ij fopkj djrk gS rkfd ,slh ys[kk ijh{kk izfØ;k,a rS;kj dh tk lds tks mu ifjfLFkfr;ksa esa lehphu gksaA ,d ys[kk ijh{kk esa dEiuh ds funs'kdksa }kjk iz;qDr ys[kkdj.k uhfr;ksa dh mi;qDrrk rFkk rS;kj fd, x, ys[kkdj.k izkDdyksa ds vkSfpR; dk ewY;kadu djus ds lkFk lkFk foRrh; foojf.kdkvks a ds lexz izLrqfrdj.k dk ewY;kadu fd;k tkuk Hkh “kkfey gksrk gSA

gekjk fo'Okkl gS fd gekjs }kjk izkIr fd;k x;k ys[kk ijh{kk lk{; i`Fkd foRrh; foojf.kdkvksa ij gekjs ys[kk ijh{kk er ds fy, vk/kkj eqgS;k djkus ds fy, i;kZIr vkSj lehphu gSA

ergekjs er esa vkSj gekjh loksZRre lwpuk esa vkSj gesa fn, x, Li"Vhdj.kksa ds vuqlkj] mijksfYyf[kr i`Fkd foRrh; foojf.kdk, vf/kfu;e}kjk visf{kr fnukad 31 ekpZ,2015 dh fLFkfr ds vuqlkj dEiuh dh gkyr vkSj ml rkjh[k dks lekIr o"kZ ds fy, blds udn izokg ds ckjs esa lwpuk bl izdkj visf{kr rjhds ls vkSj Hkkjr esa lkekU; rkSj ij Lohd`r ys[kkdj.k fl)karksa ds vuq:i iznku djrh gSaA

egRoiw.kZ ekeysfoRrh; fooj.kksa dh fVIi.kh II (d) (2) ftlesa bafxr fd;k x;k gS fd dEiuh dks lafpr gkfu;ka gqbZ gSa vkSj blds fuoy ewY; dk iw.kZr;k {k; gks pqdk gS] dEiuh dks pkyw vkSj foxr o"kZ ¼o"kksZa½ ds nkSjku fuoy gkfu@fuoy udn gkfu gqbZ gS]



361

net worth has been fully eroded, the Company has incurred a net loss/net cash loss during the current and previous year(s) and, the Company's current liabilities exceeded its current assets as at the balance sheet date. These conditions indicate the existence of a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern. However, the financial statements of the Company have been prepared on a going concern basis for the reasons stated in the said Note. Our opinion is not qualified for the same.

Report on other legal and Regulatory Requirements1. As required by the Companies (Auditor's Report)

Order, 2015 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable.

2. The C & A G of India has issued directions/ sub directions under section 143 (5) of the Companies Act, compliance of which are set out in Annexure I and II.

3. As required by section 143 (3) of the Act, we report that:

a. we have sought and obtained all the infdrmation and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

b. in our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books.

c. the Balance Sheet and the Statement of Profit and Loss dealt with by this report are in agreement with the books of account.

d. In our op+nion, the aforesaid financial statements comply with the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;

dEiuh dh pkyw nsunkfj;ka rqyu i= esa fn, vuqlkj bldh pkyw ifjlEifRr;ksa ls vf/kd gks pqdh gSaA ;s fLFkfr;ka ,d Bksl vfuf'prrk dh vks bafxr djrh gSa tks dEiuh dh ,d lquke izfr"Bku ds :i esa tkjh jgus dh {kerk ij vR;f/kd lansg mRiUu djrh gSA cgjgky] dEiuh ds foRrh; fooj.k mDr fVIi.kh esa fn, x, dkj.kksa ds vk/kkj ij ,d lquke izfr"Bku ds vk/kkj ij rS;kj fd, x, gSaA gekjk er blds fy, vgZr ugha gSA

vU; fof/kd vkSj fofu;ked vis{kkvksa ij izfrosnu

1- tSlk fd vf/kfu;e dh /kkjk 143 dh mi&/kkjk ¼11½ ds vuqlkj dsanzh; ljdkj }kjk tkjh dEiuh ¼ys[kk ijh{kd dk izfrosnu½ vkns'k, 2015 ¼^vkns'k *½ }kjk visf{kr gS] ge iz;ksT; lhek rd mDr vkns'k ds iSjk 3vkSj 4esa fofufnZ"V ekeyksa ij ,d fooj.k layXu esa ns jgs gSaA

2- Hkkjr ds fu;a=d ,oa egkys[kkijh{kd us dEiuh vf/kfu;e dh /kkjk 143 ¼5½ ds v/khu funs'k@mi funs'k tkjh fd, gSa] ftudk fooj.k vuqca/k I vkSj II esa fn;k x;k gSA

3- tSlk fd vf/kfu;e dh /kkjk 143 ¼3½ }kjk visf{kr gS] ge lwfpr djrs gSa fd%

d- geus og lc lwpuk vkSj Li"Vhdj.k ekaxs gSa vkSj izkIr fd, gSa tks gekjs loksZRre Kku vkSj fo'okl ds vuqlkj gekjh ys[kk ijh{kk ds iz;kstuksa gsrq vko';d Fks;

[k- gekjs er esa] fof/k }kjk ;Fkksisf{kr mi;qDr ys[kk iqfLrdk,a dEiuh }kjk j[kh xbZ gSa tgka rd mu iqfLrdkvksa dh gekjh tkap ls izrhr gksrk gS(

x- bl izfrosnu esa ftu rqyu i= vkSj ykHk gkfu foojf.kdk dk mi;ksx fd;k x;k gS os ys[kk iqfLrdkvksaa ds vuq:i gSa(

?k- gekjs erkuqlkj] mi;qZDr i`Fkd foRrh; foojf.kdk,a dEiuh ¼ys[ks½ fu;ekoyh, 2014 ds fu;e 7 ds lkFk ifBr vf/kfu;e dh /kkjk 133 dk vuqikyu djrh gSa(

M- mi;qZDr iSjk êgRoiw.kZ ekeys^ ds rgr lquke izfr"Bku okys ekeys dk] gekjs erkuqlkj] dEiuh ds dkedkt ij dksbZ izfrdwy izHkko ugha gks ldrkA


e. The going concern matter described under the Emphasis of Matters paragraph above, in our opinion, may not have an adverse effect on the functioning of the Company.

f. on the basis of the written representations received from the directors as on 31 March 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2015 from being appointed as a director in terms of Section 164 (2) of the Act;

g. with respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. the Company has disclosed the impact of pending litigations on its financial position in its financial statements - Refer Note II (a) (1) to the financial statements;

ii. the Company has made provision, as required under the applicable law or accounting standards for material foreseeable losses. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses

iii. there were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

For Chaturvedi & PartnersChartered AccountantsFirm Registration No. 307068E

anuj MahansariaPartnermembership No. 500819

p- fnukad 31ekpZ, 2015 dh fLFkfr ds vuqlkj funs'kd eaMy }kjk fjdkWMZ eas fy, x, funs'kdksa ls izkIr fyf[kr vH;kosnuksa ds vk/kkj ij] dksbZ Hkh funs'kd 31ekpZ, 2015 dh fLFkfr ds vuqlkj vf/kfu;e dh /kkjk 164 ¼2)ds vuqlkj funs'kd ds :i esa fu;qDr fd, tkus ds fy, v;ksX; ugha gS(

N- tgka rd dEiuh ¼ys[kk ijh{kk vkSj ys[kk ijh{kd)fu;e, 2014 ds fu;e 11 ds vuqlkj ys[kk ijh{kdksa ds izfrosnu esa “kkfey fd, tkus okys vU; ekeyksa dk laca/k gS] gekjs erkuqlkj vkSj gekjh loksZRre tkudkjh vkSj gesa fn, x, Li"Vhdj.k ds vuqlkj%

i. dEiuh us viuh foRrh; fLFkfr ij yafcr eqdn~nesckft;ksa ds izHkko dk izdVhdj.k vius foRrh; fooj.kksa esa dj fn;k gS & dì;k foRrh; fooj.kksa ij fVIi.kh II ¼d½ ¼2½ ns[ksaA

ii. dEiuh us egRoiw.kZ vuqekU; gkfu;ksa ds fy, iz;ksT; fof/k ;k ys[kkdj.k ekudksa ds v/khu ;Fkksisf{kr] izko/kku fd, gSaA dEiuh dh O;qRiUu lafonkvksa lfgr nh?kkZof/kd lafonkvksa ij dksbZ egRoiw.kZ vuqekU; gkfu ugha Fkh] ftuds fy, dksbZ dksbZ egRoiw.kZ vuqekU; gkfu;ka FkhaA

iii. ,slh dksbZ /kujkf'k;ka ugha Fkha ftUgsa dEiuh }kjk fuos'kd f'k{kk ,oa laj{k.k fuf/k esa varfjr fd;k tkuk visf{kr gksA

d`rs prqosZnh ,aM ikVZulZpkVZMZ ,dkmaVsaV~ldEiuh iathdj.k la[;k No. 307068E

vuqt egkulfj;kHkkxhnkjlnL;rk la[;k 500819



363

fnukad 31ekpZ] 2015 dks lekIr o"kZ ds fy, n vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa ij dEiuh vf/kfu;e] 2013 dh /kkjk 129 ¼4½ ds lkFk ifBr /kkjk 143 ¼6½ ¼[k½ ds varxZr Hkkjr ds fu;a=d ,oa egkys[kk ijh{kd dh fVIif.k;ka

fofu;ked ,oa fodkl izkf/kdj.k ¼chek dEifu;ksa dh foRrh; foojf.kdk vkSj ys[kk ijh{kd ds izfrosnu dh rS;kjh½ fofu;ekoyh] 2002 vkSj dEiuh vf/kfu;e] 2013 ds lkFk ifBr chek vf/kfu;e] 1938 ds v/khu fu/kkZfjr fd, x, foRrh; izfrosnu izk:i ds vuqlkj fnukad 31ekpZ] 2015 dks lekIr o"kZ ds fy, n vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa dks rS;kj djuk dEiuh ds izca/ku dk nkf;Ro gSA vf/kfu;e dh /kkjk 129¼4½ ds lkFk ifBr /kkjk 139¼5½ ds v/khu Hkkjr ds fu;a=d ,oa egkys[kkijh{kd }kjk fu;qDr lkafof/kd ys[kk ijh{kd vf/kfu;e dh /kkjk 143¼10½ ds v/khu fu/kkZfjr ys[kk ijh{k.k ij ekudksa ds vuqlkj Lora= ys[kk ijh{kk ds vk/kkj ij vf/kfu;e dh /kkjk 129¼4½ ds lkFk ifBr 143 ds varxZr foRrh; foojf.kdkvksa ij er O;Dr djus ds fy, mRrjnk;h gSaA ;g dk;Z muds }kjk fnukad 15 ebZ 2015 ds ys[kk ijh{kk izfrosnu ds }kjk fd;k x;k gSA

eSaus] Hkkjr ds fu;a=d ,oa egkys[kkijh{kd dh vksj ls] vf/kfu;e dh /kkjk 129¼4½ ds lkFk ifBr 143¼6½¼d½ ds varxZr fnukad 31ekpZ] 2015 dks lekIr o"kZ ds fy, fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa dh vuqiwjd ys[kkijh{kk dh gSA geus fnukad 31ekpZ] 2015 dks lekIr o"kZ ds fy, fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsM dh foRrh; foojf.kdkvksa dh vuqiwjd ys[kkijh{kk dh gS] fdarq ml rkjh[k dk lekIr o"kZ ds fy, fn baMfLVª;y ØsfMV dEiuh fyfeVsM vkSj gSYFk ba';ksjsal Vhih, vkWQ bafM;k fyfeVsM dh foRrh; foojf.kdkvksa dh vuqiwjd ys[kk ijh{kk ugha dh gSA ;g vuqiwjd ys[kk ijh{kk lkafof/kd ys[kk ijh{kd ds dk;Z'khy nLrkostksa rd igqWap ds fcuk Lora= :i ls dh xbZ gS vkSj ;g eq[;r% lkafof/kd ys[kk ijh{kdksa vkSj dEiuh dkfeZdksa dh tkapksa vkSj dqN ys[kkdj.k vfHkys[kksa dh pquh gqbZ tkap rd lhfer gSA

viuh ys[kk ijh{kk ds vk/kkj ij] esjh tkudkjh esa ,slk dqN mYys[kuh; ugha vk;k gS ftlls lkafof/kd ys[kk ijh{kdksa ds izfrosnu ij ;k blds vuqiwj.k essa dksbZ fVIi.kh mRiUu gksrh gksA

d`rs vkSj

Hkkjr ds fu;a=d ,oa egkys[kkijh{kd dh vksj ls

¼lqi.kkZ nso½iz/kku okf.kfT;d ys[kkijh{kk funs'kd

,oa insu lnL;] ys[kk ijh{kk cksMZ&AAubZ fnYYkh

LFkku% ubZ fnYyhrkjh[k% 15-07-2015




365

31 ekpZ] 2015 dks rqyui=n bUMfLVª;y ØsfMV dEiuh fyfeVsM

the indUstRial CRedit CoMPanY liMitedBalanCe sheet as at MaRCh 31, 2015

(okLrfod@Actual)

fooj.kParticulars

fVIi.kh la-note no.

31 ekpZ] 2015 dks as at

March 31, 2015


March 31,2014 I bfDoVh ,oa ns;rk,a

eQUitY and liaBilities1 'ks;j/kkjdksa dh fuf/k;ka

Shareholders' Funds¼d½ 'ks;j iwath(a) Share Capital

2 500,000 500,000

¼[k½ vkjf{kfr;ka vkSj vf/k'ks"k(b) Reserves and Surplus

3 (667,849) (651,960)

3 pkyw ns;rk,aCurrent Liabilities¼d½ vYikof/kd m/kkj(a) Short-term Borrowings

4 582,587 543,882

¼[k½ vU; pkyw ns;rk,a(b) Other Current Liabilities

5 18,487 13,485

dqyTotal

433,225 405,407

ii. ifjlaifRr;kaAssets

2 pkyw ifjlaifRr;kaCurrent Assets¼d½ dkjksckj izkI;(a) Trade Receivables

6 - -

¼[k½ udn ,oa udn lerqY;(b) Cash and Cash Equivalents

7 433,225 402,125

¼x½ vU; pkyw ifjlaifRr;ka(c) Other Current Assets

8 - 3,282

dqyTotal

433,225 405,407

foRrh; fooj.kksa ds lkFk layXu fVIif.k;kaAccompanying notes on the Financial Satatments

1






funs'kdKuldip singh




fooj.kParticulars

fVIi.kh la-note no.


March 31, 2015


March 31,2014 gekjh blh rkjh[k dh layXu fjiksVZ ds vuqlkjAs per our report of even date attached.foRrh; fooj.kksa ds lkFk layXu fVIif.k;kaAccompanying notes on the Financial Satatments

1



367

31 ekpZ] 2015 dks lekIr o"kZ ds fy, ykHk ,oa gkfu fooj.kn bUMfLVª;y ØsfMV dEiuh fyfeVsM

the indUstRial CRedit CoMPanY liMitedstateMent oF PRoFit and loss FoR the YeaR ended MaRCh 31, 2015

(okLrfod@Actual)

fooj.kParticulars

fVIi.kh la-note no.

31 ekpZ] 2015 dks

as at March 31, 2015

31 ekpZ] 2014 dks


I vk;Income

8 27,818 7,283

II O;;%Expenses:vU; O;;Other Expenses

9 43,707 28,845

dqy O;;Total Expenses

43,707 28,845

III vlk/kkj.k enksa ls iwoZ ykHk@¼gkfu½] iwokZof/k dh ensa vkSj djProfit/(Loss) before Extraordinary items, Prior Period Items and Tax

(15,889) (21,562)

tksM+sa@¼?kVk,a½% vlk/kkj.k ensa] iwokZof/k dh ensa vkSj dj vkSj O;;Add/ ( Less): Extra ordinary items, Prior Period Item and Tax Expenses

- -

IV dj iwoZ ykHk@¼gkfu½Profit/ (Loss) before tax

(15,889) (21,562)

V dj O;;Tax Expensefuoy pkyw djNet Current Tax

- -






funs'kdKuldip singh




fooj.kParticulars

fVIi.kh la-note no.

31 ekpZ] 2015 dks


31 ekpZ] 2014 dks


VI o"kZ ds fy, ykHk@¼gkfu½Profit/(Loss) for the year

(15,889) (21,562)

vk; izfr bfDoVh 'ks;j%Earning per equity share:ewyBasic

(3.18) (4.31)

fojfyrDiluted

(3.18) (4.31)

foRrh; fooj.kksa ds lkFk layXu fVIif.k;kaAccompanying notes on the Financial Statements

1



369

notes: 1 aCCoMPanYing notes to the FinanCial stateMents:i. signiFiCant aCCoUnting PoliCies a. Basis of preparation of Financial statements:

These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis, except for certain tangible assets which are being carried at revalued amounts. Pursuant to section 133 of the Companies Act, 2013 read with rule 7 of the Companies (Accounts) Rules, 2014, till the standard of accounting or any addendum thereto are prescribed by Central Government in consultation and recommendation of the National Financial Reporting Authority, the existing accounting standards notified under the Companies Act, 1956 shall continue to apply.

Consequently, these financial statements have been prepared to comply in all material aspects with the accounting standards notified under Section 211(3C) [Companies (Accounting Standards) Rules, 2006, as amended] and the other relevant provisions of the Companies Act, 2013.

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and other criteria set out in the Schedule III to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current – non-current classification of assets and liabilities.

b. Revenue Recognition:Interest on term deposit is recognised on the accrual basis and certain to received.

c. taxation:a) Current tax

Provision for current tax is made on the basis of the estimated tax liability after considering benefits admissible under

fVIif.k;ka%1 foRrh; fooj.kksa ds lkFk layXu fVIif.k;ka%i. egRoiw.kZ ys[kkdj.k uhfr;kad- foRrh; fooj.kksa dks rS;kj djus dk vk/kkj% ;s foRrh; fooj.k izkfIr vk/kkj ij ,sfrgkfld ykxr

vfHkle; ds v/khu Hkkjr esa lkekU; rkSj ij Lohdr fl)karksa ds vuqlkj rS;kj fd, tkrs gSa] ,slh dfri; ewrZ ifjlaifRr;ksa dks NksM+dj] ftus fooj.k iqu%ewY;kafdr vys[kksa ij rS;kj fd, tk jgs gSaA daiuh vf/kfu;e ¼ys[kk½ fu;e] 2014 ds fu;e 7 ds lkFk iBuh; daiuh vf/kfu;e] 2013 dh /kkjk 133 ds vuqlj.k esa] dsanzh; ljdkj }kjk jk"Vªh; foRrh; lwpuk izkf/kdj.k ds ijke'kZ vkSj flQkfj'kksa ij dksbZ ifjf'k"V ;k ys[kk ekud fu/kkZfjr fd, tkus rd] daiuh vf/kfu;e] 1956 ds v/khu vf/klwfpr ekStwnk ys[kk ekud ykxw gksrs jgsaxsA

ifj.kkeLo:i] ;s foRrh; fooj.k daiuh vf/kfu;e] 2013 dh /kkjk 211¼3x½ [daiuh ¼ys[kkdj.k ekud½ fu;e] 2006] ;Fkk la'kksf/kr] rFkk vU; lacaf/kr izko/kkuksa ds v/khu vf/klwfpr ys[kdj.k ekudksa dk lHkh egRoiw.kZ igyqvksa dh nf"V ls vuqikyu djus ds fy, rS;kj fd, x, gSaA

lHkh ifjlaifRr;ksa vkSj ns;rkvksa dks daiuh ds lkekU; izpkyu pØ vkSj daiuh vf/kfu;e] 2013 dh vuqlwph AAA esa fu/kkZfjr vU; ekinaMksa ds vuqlkj pkyw ;k xSj&pkyw ds :i esa oxhZdr fd;k x;k gSA mRiknksa ds izdfr vkSj mUgsa lalkf/kr djds udn vkSj udn lerqY; ds :i esa udnhdj.k fd;k tkus ds fy, buds vf/kxzg.k ds chp vof/k ds vk/kkj ij] daiuh us ifjlaifRr;ksa vkSj ns;rkvksa ds pkyw&xSj&pkyw esa oxhZdj.k ds mn~ns'; ds fy, viuk izpkyu pØ 12 eghus ds :i esa fuf'pr fd;k gSA

[k- jktLo dh Lohd`fr% Lkof/k tek ij C;kt dks izkfIr vk/kkj ij Lohd`fr nh

xbZ gS vkSj bUgsa izkIr fd;k tkuk fuf'pr gSA

x- djk/kku%d½ pkyw dj pkyw dj ds fy, izko/kku vk; dj vf/kfu;e]

1961 ds v/khu vuqes; ykHkksa dks /;ku eas j[krs gq, vuqekfur dj ns;rk ds vk/kkj ij fd;k x;k gSA

[k½ vkLFkfxr dj Hkkjrh; pkVZMZ ,dkmaVsaV laLFkku }kjk tkjh ys[kkdj.k


Income Tax Act, 1961

b) deferred taxesIn accordance with Accounting Standard 22- Accounting for Taxes on Income, issued by The Institute of Chartered Accountants of India, the deferred tax for timing differences between the book and tax profits for the year is accounted by using the tax rates and laws that have been enacted or substantially enacted as of the balance sheet date.

Deferred Tax Assets arising from temporary timing differences are recognized to the extent there is reasonable certainty that the assets can be realized in future.

d. Provisions , Contingent liabilities and Con-tingent assetsProvisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and are probable that there will be an outflow of resources.

e. earning Per shareThe earning considered in ascertaining the Company EPS comprises the net profit after tax (and include the post-tax effect of any extra ordinary items) attributable to equity shareholders. The number of shares used in computing Basic EPS is the weighted average number of shares outstanding during the year. The diluted EPS is calculated on the same as basic EPS, after adjusting for the effect of potential dilutive equity shares.

i. notes to aCCoUnta. Contingent liabilities:1. Claims against the Company not acknowledged

as debts Rs. 91,28,631/- (Previous year Rs. 8727900/-).

Note: An ex-party arbitration award dated May 06, 1999 was passed in favour of M/s Saraswati Varshney (daughter of Late Smt. Rama Devi Varshney), which made a rule of court on August 20, 1999 (vide original order suit no. 277/71 of ex-party Late Smt. Rama Devi Varshney) and a

ekud 22 & vk; ij djksa ds fy, ys[kkdj.k ds vuqlkj] o"kZ ds fy, cgh vkSj dj ykHkksa ds chp dkykarjksa ds fy, vkLFkfxr dj dk ys[kkdj.k mu dj njksa vkSj fof/k;ksa dk bLrseky djds fd;k tkrk gS ftUgsa rqyui= dh rkjh[k dk vf/kfu;fer ;k oLrqr% vf/kfu;fer fd;k tk pqdk gksA

vLFkk;h dkykarjksa ls mRiUu gksus okyh vkLFkfxr dj ifjlaifRr;ksa dks ml lhek rd Lohd`fr nh tkrh gS tgka rd bl ckr dh vkSfpRiw.kZ fuf'prrk gks fd ifjlaifRr;ksa dk Hkfo"; eas udnhdj.k dn fn;k tk,xkA

?k- izko/kku] vkdfLed ns;rk,a vkSj vkdfLed ifjlaifRr;ka

ftu izko/kkuksa ds ekiu esa mYys[kuh; Lrj rd vuqeku fufgr gks] mUgsa rc Lohd`fr nh tkrh gS tc xr ?kVukvksa ds ifj.kkeLo:i dksbZ orZeku ck/;rk gks vkSj ;g laHkkouk gks fd lalk/kuksa dk cfgizZokg gksxkA

M+- vk; izfr 'ks;j & bZih,l daiuh dh bZih,l ds fy, ftl vk; ij fopkj

fd;k tkrk gS mlesa bfDoVh 'ks;j/kkjdksa dks vfHkns; dj&i'pkr fuoy ykHk 'kkfey gksrk gS ¼vkSj fdlh Hkh vfrfjDr en dk dj&i'pkr izHkko½ 'kkfey gksrk gSA ewy bZih,l dh x.kuk esa iz;qDr 'ks;jksa dh la[;k o"kZ ds nkSjku cdk;k 'ks;jksa dh vkSlr Hkkfjr la[;k gksrh gSA fojfyr bZih,l dh x.kuk] laHkkfor fojyd bfDoVh 'ks;jksa ds lek;kstu ds i'pkr] ewy bZih,l ds leku dh tkrh gSA

i. ys[kkdj.k ij fVIif.k;kad- vkdfLed ns;rk,a%1- daiuh ds fo#) nkos ftUgsa _.k ugha ekuk x;k

#- 91]28]631@& ¼xr o"kZ #- 8727900@&½ fVIi.kh% ,d iwoZ ikVhZ e/;LFkrk fu.kZ; fnukad 6 ebZ]

1999 dks eSllZ ljLorh ok".ksZ; ¼lqiq=h LoxhZ; Jherh jek nsoh ok".ksZ;½ ds i{k esa ikfjr fd;k x;k Fkk tks fd 20 vxLr] 1999 dks U;k;ky; dk fu;e ¼iwoZ ikVhZ LoxhZ; jek nsoh ok".ksZ; ds ewy vkns'k eqdnek la[;k 277@71 ds varxZr½ cu x;k vkSj daiuh ds fo#) 30]82]541-82 #i, ds fy, ,d vkf/kdkfjd vkns'k



371

vFkkZr fMxzh tkjh fd;k x;k FkkA fMxzh /kkjd us 3 ekpZ] 2000 ds i'pkr fu.khZr jkf'k ij 13 izfr'kr okf"kZd dh nj ls Hkkoh C;kt ds lkFk mi;qZDr jkf'k dh olwyh ds fy, ,d fu"iknu ekeyk la[;k 11@2000 nk;j dj fn;kA blds ckn daiuh us bl ekax dk fojks/k fd;k vkSj orZeku le; esa ;g ekeyk f}rh; vfrfjDr nhokuh U;k;k/kh'k] vyhx<+ ds le{k yafcr gSA

[k- ys[kk ijh{kdksa dks Hkqxrku(okLrfod)

fooj.k ekpZ 31] 2015 dks

lekIr o"kZ ds fy,

ekpZ 31] 2014 dks

lekIr o"kZ ds fy,

(i) ys[kkijh{kk 'kqYd 12,000* 12,000

*lsok dj ds vfrfjDr

x- lacaf/kr i{k laO;ogkj /kkjd daiuh% fn vksfj,aVy ba';ksjsal daiuh fyfeVsM

(okLrfod) fooj.k ekpZ 31]

2015 dks lekIr o"kZ

ds fy,

ekpZ 31] 2014 dks

lekIr o"kZ ds fy,

1 laO;ogkj /kkjd daiuh ls _.kmixr O;;ksa dk ogu /kkjd daiuh ^^fn vksfj,aVy ba';ksjsal daiuh fyfeVsM^^ }kjk fd;k tkrk gS

38,705 26,296

2 vafre 'ks"k 5,82,587 5,43,882

?k- izfr 'ks;j vk; ¼bZih,l%(okLrfod)

fooj.k ekpZ 31] 2015 dks

lekIr o"kZ ds fy,

ekpZ 31] 2014 dks

lekIr o"kZ ds fy,

o"kZ ds fy, ykHk@¼gkfu½ ¼d½ (15889) (21,562)

bfDoVh 'ks;jksa dh la[;k ¼[k½ 5000 5000

ykHk izfr 'ks;j ¼d@[k½ 3.18 (4.31)

decree for Rs. 30,82,541.82 was passed against the Company. An execution case bearing no. 11/2000 has filed by the decree holder for recovery of the aforesaid amount along with future interest @ 13% p.a. on the awarded amount after March 03, 2000. Further, the company has contested the demand and at present the case is pending before IInd Additional Civil Judge, Aligarh.

b. Payment to auditors(Actual)

Particulars For the year

ended March

31, 2015

For the year

ended March

31, 2014(i) Audit Fee 12,000* 12,000

*Exclusive of service tax

C. Related Party transaction holding Company: The Oriental Insurance Co.

Ltd(Actual)


ended March 31,

2015

For the year

ended March

31, 20141 loan from holding

CompanyExpenses Incurred are borne by the holding Company “The Oriental Insurance Co. Ltd.”

38,705 26,296

2 Closing balance; 5,82,587 5,43,882

d. earning Per share (ePs)(Actual)


ended March

31, 2015

For the year

ended March

31, 2014Profit /(Loss) for the year(A) (15889) (21,562)Number of Equity Shares (B) 5000 5000Profit Per Share (A/B) 3.18 (4.31)


e. The directors have waived the sitting fee for attending the Board Meeting.

f. Interest on outstanding amount of Rs. 37,973 with the debtor has not been accounted for since the outstanding amount has been classified as doubtful debt.

g. According to the information and explanations given to us, the Company has no due to suppliers registered under Micro, Small and Medium Enterprises Development Act, 2006.

h. Previous year’s figure have been regrouped, rearranged and reclassified wherever necessary.

M+- funs'kdksa }kjk cksMZ dh cSBd esa mifLFkr gksus ds fy, mifLFkfr 'kqYd dk nkok NksM+ fn;k x;k gSA

p- dtZnkj ij 37]973 djksM+ #i, dh cdk;k jkf'k ij C;kt dk fglkc ugha fn;k x;k gS D;ksafd cdk;k jkf'k dks lafnX/k dtZ ds :i esa oxhZd`r fd;k x;k gSA

N- gesa nh xbZ lwpuk vkSj Li"Vhdj.kksa ds vuqlkj] lw{e] y?kq ,oa e/;e m|e fodkl vf/kfu;e ds v/khu iathd`r vkiwrhZdrkZvksa ds izfr daiuh dh dksbZ ns;rk ugha gSA

t- tgka dgha vko';d gqvk gS] xr o"kZ ds vkadM+ksa dks iqu% lewg] iqu% O;ofLFkr vkSj iqu%oxhZd`r fd;k x;k gSA





funs'kdKuldip singh






373

n bUMfLVª;y ØsfMV dEiuh fyfeVsMrqyu i= ekpZ 31] 2015 dk fgLlk cuus okys uksV~lthe indUstRial CRedit CoMPanY liMited

notes FoRMing PaRt oF the BalanCe sheet as at MaRCh 31,2015

(okLrfod@Actual)31 ekpZ] 2015 dks

as at March 31,2015


March 31,2014 fVIi.kh & 2 'ks;j iwathnote-2 share Capitalizkf/kd`rauthorised100@& #i, izR;sd ds 10000 ¼xr o"kZ 10000½ bfDoVh 'ks;j10000 (Previous Year 10000) Equity Shares of `100/- each

1,000,000 1,000,000

tkjh fd, x,issued100@& #i, izR;sd ds 5050 ¼5050½ bfDoVh 'ks;j5050(5050) Equity Shares of Rs. 100/-

505,000 505,000

vfHknRr ,oa iznRrsubscribed and Paid-up 100@& #i, izR;sd ds 5000 ¼5000½ bfDoVh 'ks;j5000(5000) Equity Shares of Rs. 100/-izR;sd iw.kZr% iznRr 'ks;j ¼mi;qZDr 'ks;jksa esa ls 5000 ¼5000½ /kkjd daiuh rFkk blds ukekafdr funs'kdksa }kjk /kkfjr fd, tkrs gSaeach fully paid up (of the above Shares, 5000(5000) Equity Shares are held by Holding Company & its nominee Directors)

500,000 500,000

dqytotal

500,000 500,000


(okLrfod@Actual)'ks;jksa dh la[;k dk lek/kkuReconcilation of number of shares


March 31,2015


March 31,2014 bfDoVh 'ks;j%equity shares:o"kZ ds izkjaHk esa 'ks"kBalance at the beginning of the year

5,000 5,000

tksM+sa% tkjh fd, x, 'ks;jksa dh la[;kAdd:Number of Shares Issued

- -

o"kZ ds var esa 'ks"kBalance at the end of the year

5,000 5,000

daiuh ds iw.kZ;ksx 'ks;jksa ds 5 izfr'kr ls vf/kd /kkfjr djus okys 'ks;j/kkjdksa ds /kkfjr 'ks;jksa dk C;kSjkdetails of shares held of shareholders holding more than 5%of the aggregate shares in the Company

(okLrfod@Actual)ukename


March 31,2015


March 31,2014 bfDoVh 'ks;j%equity shares:fn vksfj,aVy ba';ksjsal daiuh fyfeVsM ¼/kkjd daiuh½ vkSj blds ukekafdr funs'kdThe Oriental Insurance Company Limited (Holding Company) & its nominee directors

5000 (100%) 5000 (100%)

fVIi.kh-3% vkjf{kfr;ka ,oa vf/k'ks"knote-3: Reserves & surplusykHk gkfu fooj.k esa vf/k'ks"k@¼U;wurk½Surplus/(Deficit) in Statement of Profit & Loss o"kZ ds izkjaHk esaas at the beginning of the year

(651,960) (630,398)

tksM+sa% o"kZ ds fy, fuoy gkfuAdd: Net Loss for the year

(15,889) (21,562)

o"kZ ds var esa 'ks"kBalance as at the end of the year

(667,849) (651,960)

dqytotal

(667,849) (651,960)

dqynhi flagfuns'kdKuldip singhDirector


,-ds- feÙkyfuns'kda.K. Mittal Director



375

fn baMLVªh;y ØsfMV daiuh fyfeVsM31 ekpZ, 2015 dks rqyui= dk Hkkx cukus okyh fVIif.k;ka

the indUstRial CRedit CoMPanY liMitednotes FoRMing PaRt oF the BalanCe sheet as at MaRCh 31,2015


as at March 31,2015


March 31,2014 fVIi.kh&4% vYikof/kd m/kkjNote-4 : Short Term BorrowingsvizR;kHkwr _.k%Unsecured Loan:&^/kkjd daiuh ^^n vksfj,aVy ba';ksjasl daiuh fyfeVsM** - From the Holding Company " The Oriental Insurance Company"

582,587 543,882

dqyTotal

582,587 543,882

fVIi.kh%5% vU; pkyw ns;rk,aNote-5 : Other Current LiabilitiesvU; ns;Other payables

18,487 13,485

18,487 13,485

fn baMLVªh;y ØsfMV daiuh fyfeVsM

31 ekpZ, 2015 dks rqyui= dk Hkkx cukus okyh fVIif.k;kathe indUstRial CRedit CoMPanY liMited

notes FoRMing PaRt oF the BalanCe sheet as at MaRCh 31,2015


as at March 31,2015


March 31,2014 fVIi.kh&6 % dkjksckj izkI;Note - 6 : Trade Receivables vizR;kHkwr] lafnX/k le>s x,Unsecured, Considered doubtfulfrfFk ls Ng eghus ds vf/kd dh vof/k ls cdk;kOutstanding for a period exceeding six months from the date;s Hkqxrku gsrq ns; gSathey are due for payment

37,973 37,973

?kVk,a % lafnX/k _.kksa ds fy, izko/kkuLess : Provision for doubtful debts

37,973 37,973

dqyTotal

- -


fVIi.kh&7 udn ,oa udn lerqY;Note - 7 Cash and Cash Equivalentsudn ,oa udn lerqY;Cash and Cash EquivalentscSad esas 'ks"kBank balances - pkyw [kkrs esa- In Current Account

33,225 12,125

cSad esa lkof/k tekFixed deposit with bank

400,000 390,000

dqyTotal

433,225 402,125

fVIi.kh - 8 vU; pkyw ifjlaifRr;kaNote -8 Other Current Assets¼?k½ C;kt izkI;(d)Interst Receivables

- 2,954

¼M+½ VhMh,l izkI;(e)TDS Receivables

- 328

- 3,282






377

fn baMfLVª;y ØsfMV daiuh fyfeVsM

31 ekpZ] 2015 dks ykHk gkfu ys[kk dk Hkkx cukus okyh fVIif.k;kathe indUstRial CRedit CoMPanY liMited

notes FoRMing PaRt oF PRoFit and loss aCCoUnt FoR the YeaR ended MaRCh 31, 2015

(okLrfod@Actual)

31 ekpZ] 2015 dks lekIr o"kZ ds fy,

For the Year ended March 31,2015



fVIi.kh&8% vU; vk;Note -8 : Other Incomelkof/k tek ij C;ktInterest On F.D.

27,818

lkof/k tek ij mixr C;ktInterest Accrud On F.D.

3,282

cV~Vs [kkrs Mkyk x;k vf/k'ks"k izko/kkuExcess provision written off

4,001

mi&;ksxSub Total

27,818 7,283

(okLrfod@Actual)





fVIi.kh&9% vU; O;;Note -9 : Other Expensesizko/kkuProvisions

5,000

njsa vkSj djRates and Taxes

-

ijke'kZ izHkkjConsultancy Charges

25,222 15,060

ys[kk ijh{kk 'kqYdAudit fee

13,485 13,485

cSad izHkkjBank Charge

300

mi&;ksxSub Total

43,707 28,845


fn baMLVªh;y ØsfMV daiuh fyfeVsM

31 ekpZ] 2015 dks udn izokg fooj.k dk Hkkx cukus okyh fVIif.k;kathe indUstRial CRedit CoMPanY liMited

Cash FloW stateMent FoR the YeaR ended MaRCh 31, 2015

(okLrfod@Actual)


Year ended March 31, 2015


Year ended March 31, 2014

izpkyu xfrfof/k;ksa ls udn izokgCASH FLOWS FROM OPERATING ACTIVITIESdjk/kku iwoZ o"kZ ds fy, ykHkProfit for the year before Taxation

(15,889) (21,562)

ds fy, lek;kstuAdjustments fortksM+sa@¼?kVk,a½ djk/kkuAdd/(Less) Taxation

- -

dk;Z'khy iwath ls iwoZ izpkyu ykHkOperating profit before Working Capital changes

(15,889) (21,562)

vU; ns; ns;rkvksa esa o`f)@¼deh½Increase/ (Derease) in Other Liabilities Payable

5,002 4,000

vU; pkyw ifjlaifRr;ksa esa o`f)@ ¼deh½Increase/ (Derease) in Other Current assets

(3,282)

izpkyu xfrfof/k;ksa }kjk iznku fd;k x;k fuoy udnNet cash provided by Operating Activities

(14,169) (17,562)

foRrh; xfrfof/k;ksa ls udn izokgCASH FLOWS FROM FINANCING ACTIVITIESdk;Z'khy iwath esa vkokxeu vkSj vU; m/kkjMovement in Working Capital & Other borrowings

38,705 21,116

foRrh; xfrfof/k;ksa }kjk iznku fd;k x;k fuoy udnNet cash provided by Financing Activities

38,705 21,116

o"kZ ds nkSjku udn vkSj udn lerqy; esa fuoy o`f)@¼deh½NET (DECREASE)/ INCREASE IN CASH AND CASH EQUIVALENTS DURING THE YEAR

24,536 3,554

o"kZ ds izkjaHk esa udn vkSj udn lerqY;Cash and Cash Equivalents at the beginning of the year

402,425 402,725

o"kZ ds var esa udn vkSj udn lerqY;Cash and cash equivalents at the end of the year

426,961 406,279

vafre udn vkSj udn lerqY;Closing Cash and Cash Equivalents

433,225 402,425



379

fVIi.kh%1- udn izokg fooj.k daiuh ys[kkdj.k ekud fu;e] 2006 ds varxZr tkjh udn izokg fooj.k ij ys[kkdj.k ekud

¼,,l&3½ esa ;Fkkof.kZr vizR;{k fof/k ds vuq:i gSA 2- udn ,oa udn lerqY; esa fuEufyf[kr 'kkfey gSa% Note :1. The Cash Flow Statement has been as per the indirect method as set out in the Accounting Standard (AS-

3) on cash Flow Statement issued under the Companies Accounting Standards Rules, 20062. The Cash and Cash equivalents comprise of the followings :

(okLrfod@Actual)Particulars 31 ekpZ] 2015 dks jkf'k

amount as at March 31, 2015

31 ekpZ] 2014 dks jkf'k amount as at

March 31, 2014 cSad esa udnCash In Bank

433,225 402,125

433,225 402,125






fn vksfj,.Vy ba';ksjsal dEiuh fyfeVsMrqyu i= ds m)j.k vkSj dEiuh dh lkekU; :ijs[kk the oRiental insURanCe CoMPanY liMitedBalanCe sheet aBstRaCt and CoMPanY’s geneRal PRoFile

i. iathdj.k dk C;kSjki. RegistRation detailsiathdj.k la[;k jkT; dksMRegistration Number 00216 State Code 55rqyu i= dh rkjh[kBalance Sheet Date 31.03.2015

ii. o"kZ ds nkSjku tqVkbZ xbZ iwath ¼jkf'k gtkj #i, esa½ii. CaPital Raised dURing the YeaR(aMoUnt in Rs. thoUsands)lkoZtfud fuxZe 'kwU; jkbV fuxZe 'kwU; Public Issue NIL Right Issue NILcksul fuxZe 'kwU; futh fu;kstu 'kwU; Bonus Issue NIL Private Placement NIL

iii. fuf/k;ksa ds lapyu vkSj fu;kstuk dh fLFkfr ¼jkf'k gtkj #i, esa½iii. Position oF MoBilisation and dePloYMent oF FUnds (aMoUnt in RUPees thoUsands)dqy nsunkfj;ka dqy ifjlEifRr;kaTotal Liabilities 433 Total Assets 433

fuf/k;ksa ds lzksrsource of Funds iznRr iwathPaid up Capital 500vkjf{kfr;ka vkSj vf/k'ks"k Reserve & Surplus 668lqjf{kr _.k 'kwU;Secured Loans NILlqjf{kr _.k Unsecured Loans 582

fuf/k;ksa dh iz;ksT;rkapplication of Fundsfuoy LFkk;h ifjlEifRr;ka fuos'k 'kwU; Net Fixed Assets Investments NIL fuoy pkyw ifjlEifRr;kaNet Current Assets 433 fofo/k O;; 'kwU; Misc. Expenditure NILlafpr ?kkVk Accumulated Losses 668



381

iv. dEiuh ds izn'kZu ¼jkf'k gtkj #i, esa½iv. PeRFoRManCe oF CoMPanY ( aMoUnt in Rs. thoUsands)VuZvksoj 'kwU; dqy O;;Turnover NIL Total Expenditure 44 dj iwoZ ?kkVk dj i'pkr ?kkVkLoss before Tax 15.8 Loss after Tax 15.8ykHkka'k 'kwU;Dividend NIL

dEiuh ds rhu izeq[k mRiknks@lsokvksa dk uke ¼izfr ekSfnzd lanHkZ ds :i½v. geneRiC naMes oF thRee PRinCiPal PRodUCts/seRviCes oF Co. (as PeR MonetaRY teRMs)vkbVe dksM ua- 'kwU; Items Code No. NIL Product Description Hire Purchase Finance dqynhi flagfuns'kdKuldip singhDirector





izi= ,vkslh&1Form aoC-1

¼dEiuh ¼ys[kk½ fu;ekoyh] 2014 ds fu;e 5 ds lkFk ifBr /kkjk 129 dh mi&/kkjk ¼3½ ds izFke ijarqd ds vuqlj.k esa½vuq"kaxh dEifu;ksa@lg;ksxh dEifu;ksa@la;qDr midzeksa dh foRrh; foojf.kdk dh eq[; fo'ks"krkvksa dks lfEefyr djus

okyk fooj.k(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)

statement containing salient features of the financial statement of subsidiaries/associate companies/joint ventures

Hkkx ^^d**% vuq"kaxh dEifu;ka¼izR;sd vuq"kaxh dEiuh ds laca/k esa lwpuk #- esa jkf'k lfgr izLrqr dh tkuh gS½

Part 'a': subsidiaries(Information in respect of each subsidiary to be presented with amounts in Rs.)

Ø-la-sl. no.

fooj.kParticulars

C;kSjkdetails

1. vuq"kaxh dEiuh dk ukeName of the subsidiary

THE INDUSTRIAL CREDIT COMPANY LTD.

2. lacaf/kr vuq"kaxh ds fy, izfrosnu vof/k] ;fn /kkjd dEiuh dh izfrosnu vof/k ls fHkUu gksReporting period for the subsidiary concerned, if different from the holding company"s reporting period

3. fons'kh vuq"kafx;ksa ds ekeys esa vafre frfFk dks izfrosnu eqnzk vkSj fofue; njReporting currency and Exchange rate as on the last date of the relevant Financial year in the case of foreignsubsidiaries

N.A.

4. 'ks;j iwathShare capital

500000

5. vkjf{kfr;ka ,oa vf/k'ks"kReserves & surplus

(667849)

6. dqy ifjlEifRr;kaTotal assets

433225

7. dqy nsunkfj;kaTotal Liabilities

601074

8. fuos'kInvestments

NIL

9. VuZvksojTurnover

NIL

10. djk/kku ds iwoZ ykHkProfit before taxation

NIL

11. djk/kku ds fy, izko/kkuProvision for taxation

NIL

12. djk/kku ds ckn ykHkProfit after taxation

NIL

13. izLrfor ykHkka'kProposed Dividend

NIL

14. 'ks;j/kkfjrk dk %% of shareholding

100 %



383

fVIif.k;ka% fuEufyf[kr lwpuk fooj.k ds var esa izLrqr dh tk,xh%

1- mu vuq"kafx;ksa dk uke ftuds izpkyu vHkh vkjaHk gksus gSa2- mu vuq"kafx;ksa dk uke ftudk o"kZ ds nkSjku udnhdj.k ;k fodz; fd;k tk pqdk gSA

notes: The following information shall be furnished at the end of the statement:1. Names of subsidiaries which are yet to commence operations2. Names of subsidiaries which have been liquidated or sold during the year.

Hkkx '[k': lg;ksxh dEifu;ka vkSj la;qDr midzePart 'B': associates and Joint ventures

lg;ksxh dEifu;ksa vkSj la;qDr midze ls lcaf/kr dEiuh vf/kfu;e 2013 dh /kkjk 129 ¼3½ ds vuqlj.k eas fooj.kstatement pursuant to section 129 (3) of the Companies act, 2013 related to associate Companies and Joint ventures

lg;ksxh dEiuh@la;qDr midze dk ukename of associates/Joint ventures

gSYFk Vhih, vkWQ bafM;khealth tPa of india

1- vafre ys[kk ijhf[kr rqyu i= dh rkjh[k1. Latest audited Balance Sheet Date

31/03/2015

2- dEiuh }kjk /kkfjr lg;ksxh dEiuh@la;qDr midze ds 'ks;j2. Shares of Associate/Joint Ventures held by the company on the year end

la[;kNo.

4750000

dEiuh@la;qDr midze esa fuos'k dh jkf'kAmount of Investment in Associates/Joint Venture

47500000

/kkfjrk dh lhek %Extend of Holding%

23.75%

3- bl ckjs esaa fooj.k fd dSls mYys[kuh; izHkko gS3. Description of how there is significant influence

gekjh 'ks;j/kkfjrkour shareholding

3- bldk dkj.k fd D;ksa lg;ksxh dEiuh@la;qDr midze lesfdr ugha gS4. Reason why the associate/joint venture is not consolidated

5. vafre ys[kk ijhf[kr rqyu i= ds vuqlkj 'ks;j/kkfjrk esa jksI; fuoy ewY;5. Net worth attributable to shareholding as per latest audited Balance Sheet

96982640

6. o"kZ ds fy, ykHk@gkfu6. Profit/Loss for the year

-51882607

i. lesdu esa fopkj fd;k x;ki. Considered in Consolidation

-12322119

ii. lesdu esa fopkj ugha fd;k x;kii. Not Considered in Consolidation

-39560488

1- mu lg;ksxh dEifu;ksa@la;qDr midzeksa dk uke ftuds izpkyu vHkh vkjaHk gksus gSa2- mu lg;ksxh dEifu;ksa@la;qDr midzeksa dk uke ftudk o"kZ ds nkSjku udnhdj.k ;k fodz; fd;k tk pqdk gSA1. Names of associates or joint ventures which are yet to commence operations.2. Names of associates or joint ventures which have been liquidated or sold during the year.

fVIi.kh% ;g izi= bl rjhds ls izekf.kr fd;k tkuk gS ftleas rqyu i= dks izekf.kr fd;k tkuk gSAnote: This Form is to be certified in the same manner in which the Balance Sheet is to be certified.

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the oriental insurance company ltd.

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