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General Insurance Corporation of India.

BSE: 540755 Sector: Financials
NSE: GICRE ISIN Code: INE481Y01014
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VOLUME 39233
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OPEN 133.20
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VOLUME 39233
52-Week high 333.85
52-Week low 81.70
P/E
Mkt Cap.(Rs cr) 24,219
Buy Price 136.60
Buy Qty 32.00
Sell Price 137.50
Sell Qty 100.00

General Insurance Corporation of India. (GICRE) - Auditors Report

Company auditors report

To:

The Members of

General Insurance Corporation of India

Report on the Audit of the Financial Statements

I. Opinion

We have audited the accompanying standalone Financial Statements of General InsuranceCorporation of India("the Corporation") which comprise the Balance Sheet as at31st March 2019 the Revenue Accounts of Fire Miscellaneous Marine and Life Insurance(collectively known as 'Revenue Accounts' ) Profit and Loss Account and the Cash flowstatement for the year then ended and notes to the financial statements including asummary of significant accounting policies and other explanatory information in which areincorporated the returns of three Foreign Branches and one Domestic Branch audited bybranch auditors appointed by Comptroller and Auditor General of India New Delhi and oneForeign Representative Office certified by the local Auditor appointed by the Corporation.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredin accordance with the requirements of the Insurance Act 1938 as amended by the InsuranceLaws (Amendment) Act 2015 ('the Insurance Act') the Insurance Regulatory and DevelopmentAuthority Act 1999 ('the IRDAI Act') the Insurance Regulatory and Development Authority(Preparation of Financial Statements and Auditor's Report of Insurance Companies)Regulations 2002 ('the IRDAI Financial Statements Regulations') orders/ directionsissued by the Insurance Regulatory and Development Authority of India ('the IRDAI') theCompanies Act ('the Act')including the accounting Standards specified under section 133 ofthe Companies Act 2013 read with rule 7 of the Companies (Accounts) Rules 2014 ('theAccounting Standards') to the extent applicable and in the manner so required and give atrue and fair view in conformity with the accounting principles generally accepted inIndia as applicable to insurance companies of state of affairs of the Corporation as at31st March 2019 and of surplus of revenue accounts of Fire Miscellaneous Marine andLife business and its profit and its cash flows for the year ended on that date.

II. Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ('SAs') specifiedunder section 143(10) of the Act and other applicable authoritative pronouncements issuedby the Institute of Chartered Accountants of India ('ICAI'). Our responsibilities underthose Standards are further described in the Auditor's Responsibilities for the Audit ofthe Financial Statements section of our report. We are independent of the Corporation inaccordance with the Code of Ethics issued by the ICAI together with the ethicalrequirements that are relevant to our audit of the financial statements under theprovisions of the Companies Act 2013 and the Rules thereunder; and we have fulfilled ourother ethical responsibilities in accordance with these requirements and the Code ofEthics. We believe that the audit evidence we have obtained is sufficient and appropriateto provide a basis for our opinion.

III. Emphasis of Matter

Without qualifying our report we draw attention to Note No 16 regarding exposure of theCorporation to Infrastructure Leasing & Finance Company and their Group Companieswhere the Corporation has made a provision of 50% of Secured portion amounting to Rs.3518948 thousands and 100% of Unsecured portion amounting to Rs. 850165 thousandsaggregating to Rs. 43691 13 thousands which in opinion of the management is consideredappropriate and is higher than the provision required to be made as per Prudential Normsfor Income Recognition Asset Classification and Provisioning issued by RBI and IRDAIapplicable to Insurance Companies.

IV. Key Audit Matters

Key Audit Matters are those matters that in our professional judgement were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the standalone financial statements as awhole and in forming our opinion thereon and we do not provide a separate opinion onthese matters. We have determined the matters below to be the key audit matters to becommunicated in our report.

Sr. No. Key Audit Matters Auditor's response
1 Revenue Recognition: Our audit procedures on revenue recognised included:
The Corporation recognises reinsurance premium income based on the statement of accounts or closing statements received from the ceding companies. At the year end estimates are made for the accounts not received based on the Estimated Premium Income (EPI) agreed upon by both the Corporation and the Ceding Companies at the time of inception of the treaty or policy slip. Tested the design implementation and operating effectiveness of key controls over Revenue Recognition.
Premium estimation is the differential of EPI and the booked premium for the year by the Corporation. Verified Premium Estimation with the guidelines of the Corporation and have performed test of controls test of details and analytical review procedures on estimation of income.
Estimation of Income can be right only if the factors involved are incorporated in the system and extracted correctly from the system. Verified EPI from the treaty or policy slip as the case may be and verified Actual Premium booked from Statement of Accounts or Closing statements received from the Cedants of the sample cases.
2 Claim Provisioning:
Insurance Claim is the major area of expense for the insurance company.Total claims incurred include paid claims Outstanding Loss Reserve (OSLR) and Claims Incurred But Not (Enough) Reported (IBN(E)R). Verified operational guidelines of the Corporation relating to claim processing have performed test of controls test of details and analytical review procedures on the outstanding claims. Verified the claim paid and provision on sample basis with payment proof and Preliminary Loss advice received from the Cedant Company and the same is further verified from the surveyor's report.
The Provision and payment of claims was considered to be one of the areas which required significant auditor attention and was one of the matter of most significance in the standalone financial statements as the quantum involved is significant. For the claim cases which has been incurred but not reported and cases in which claim has been reported but not enough reported these cases has been captured by the actuary appointed by the Corporation. The actuarial valuation of liability in respect of Claims Incurred but Not Reported (IBNR) and those Incurred but Not Enough Reported (IBNER) as at 31st March 2019 is as certified by the Corporation's Appointed Actuary and we had verified the amounts and the related liability based on such report.
3. Investments:
The Corporations investments represents substantial portion of the assets as at March 312019 which are valued in accordance with accounting policy framed as per the extent of the regulatory guidelines. Our audit procedures on Investment included the following:
Tested the design implementation and operating effectiveness of key controls over valuation process of investments.
Valuation of actively traded equity shares and ETFs is made on the closing price of NSE. If such security is not listed/ not traded on NSE on closing day the closing price of BSE is considered. Assessed appropriateness of the valuation methodologies with reference to prudential norms of the Reserve Bank of India and IRDAI along with Corporation's own valuation policy.
Valuation of thinly traded equity shares and unlisted shares as per policy adopted by the Corporation. Sample checks for actively traded equity shares ETF's debt securities Redeemable Preference shares ETF's etc. are performed by us to determine the correctness of the valuation of these investments.
All debts securities including Government securities and Redeemable Preference shares have been measured at historical cost subject to amortization of premium paid over residual period. The valuation of these investments was considered to be one of the areas which required significant auditor attention and was one of the matter of most significance in the standalone financial statements due to the materiality of the total value of investments to the financial statements. For other investments tested whether the Corporation has strictly complied with the policy.

V. Information other than the financial statements and Auditor's report thereon

The Corporation's Board of Directors is responsible for the other information. Theother information comprises the information included in the Annual report but does notinclude the standalone financial statements and our auditor's report thereon. The Annualreport is expected to be made available to us after the date of this auditor's report.

Our opinion on the standalone financial statements does not cover the other informationand we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statements our responsibilityis to read the other information and in doing so consider whether the other informationis materially inconsistent with the standalone financial statements or our knowledgeobtained in the audit or otherwise appears to be materially misstated. When we read theother information included in the above reports if we conclude that there is materialmisstatement therein we are required to communicate the matter to those charged withgovernance and determine the actions under the applicable laws and regulations. We havenothing to report in this regard.

VI. Management Responsibility for the Financial Statements

The Corporation's Board of Directors is responsible for the matters stated in section134(5) of the Act with respect to the preparation of these standalone financial statementsthat give a true and fair view of the financial position financial performance and cashflows of the Corporation in accordance with the Insurance Act 1938 the accountingprinciples as prescribed in Insurance Regulatory and Development Authority of India(IRDAI) (Preparation of Financial Statements and Auditor's Report on Insurance Companies)Regulations 2002 and orders or direction issued by the IRDAI including AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Corporation and for preventing and detecting frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statement that give a true and fair view andare free from material misstatement whether due to fraud or error.

In preparing the financial statements management is responsible for assessing theCorporation's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so.

The Board of Directors are also responsible for overseeing the Corporation's financialreporting process.

VII.Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also: i. Identify and assess therisks of material misstatement of the financial statements whether due to fraud or errordesign and perform audit procedures responsive to those risks and obtain audit evidencethat is sufficient and appropriate to provide a basis for our opinion. The risk of notdetecting a material misstatement resulting from fraud is higher than for one resultingfrom error as fraud may involve collusion forgery intentional omissionsmisrepresentations or the override of internal control.

ii. Obtain an understanding of internal financial controls relevant to the audit inorder to design audit procedures that are appropriate in the circumstances. Under section143(3)(i) of the Companies Act 2013 we are also responsible for expressing our opinionon whether the Corporation has adequate internal financial controls system in place andthe operating effectiveness of such controls.

iii. Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by management.

iv. Conclude on the appropriateness of management's use of the going concern basis ofaccounting and based on the audit evidence obtained whether a material uncertainty existsrelated to events or conditions that may cast significant doubt on the Corporation'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe financial statements or if such disclosures are inadequate to modify our opinion.Our conclusions are based on the audit evidence obtained up to the date of our auditor'sreport. However future events or conditions may cause the Corporation to cease tocontinue as a going concern.

v. Evaluate the overall presentation structure and content of the financialstatements including the disclosures and whether the financial statements represent theunderlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the financial statements of thecurrent period and are therefore the key audit matters. We describe these matters in ourauditor's report unless law or regulation precludes public disclosure about the matter orwhen in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits of such communication.

VIII. Other Matters

We did not audit the financial statements / information of three foreign branches andone foreign representative office and one domestic branch included in the standalonefinancial statements of the Corporation whose financial statements / financial informationreflect total assets of Rs. 73020259 thousands as at March 31 2019 and total revenuesof Rs. 41826200 thousands for the year ended on that date as considered in thestandalone financial statements. The financial statements / information of these branchesand representative office have been audited by the other auditors whose reports have beenfurnished to us and our opinion in so far as it relates to the amounts and disclosuresincluded in respect of these branches and office is based solely on the report of suchother auditors.

The actuarial valuation of liability in respect of Claims Incurred but Not Reported(IBNR) and those Incurred but Not Enough Reported (IBNER) as at 31st March 2019 is ascertified by the Corporation's Appointed Actuaries and our opinion in so far as it relatesto the amounts and disclosures related to such liability is based solely on such report.

Our opinion is not qualified in respect of this matter.

IX. Report on Other Legal and Regulatory Requirements

1. As required by Section 143 (3) of the Companies Act 2013 and Insurance Regulatoryand Development Authority (Preparation of financial Statements and Auditors' Report ofInsurance Companies) Regulations 2002 and orders or direction issued by the InsuranceRegulatory and Development Authority we report that:

a. We have sought and obtained all the information and explanations which to the bestof 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 theCorporation so far as it appears from our examination of those books and proper returns(audited) have been received from the three branches not visited by us.

c. The reports of the three foreign branches and one Domestic Branch on the accounts ofthe branch offices of the Corporation audited by branch auditors and one representativeoffice certified by the other auditor under section 143(8) of the Act have been sent to usand have been properly dealt with by us in preparing this report.

d. The Balance Sheet Revenue Accounts Profit and Loss Account and Cash Flow Statementdealt with this report are in agreement with the books of account and with the returnsreceived from branches and representative office not visited by us.

e. The Balance Sheet the Revenue Account and the Profit and Loss Account have beendrawn in accordance with the Insurance Act 1938 the IRDAI Act 1999 and the Act exceptfor the Cash Flow Statement (Refer Note 50) which is prepared under Indirect Methodwhereas IRDAI regulations require Cash Flow Statement to be prepared under direct method.

f. The actuarial valuation of liabilities is duly certified by the appointed actuaryincluding to the effect that the assumptions for such valuation are in accordance with theguidelines issued by the Institute of Actuaries of India to its members and has beenforwarded to IRDAI.

g. On the basis of the written representations received from the directors as on 31stMarch 2019 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2019 from being appointed as a director in terms of section164 (2) of the Act.

h. In our opinion the aforesaid financial statements comply with the AccountingStandards specified under section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014 and Companies (Accounting Standards) Amendment Rules 2016 and arealso in conformity with the accounting principles as prescribed in the IRDAI Regulations.

i. Investments have been valued in accordance with the provisions of the Insurance Act1938 (4 of 1938) and IRDAI (Auditor's Report) Regulations 2002.

j. The accounting policies selected by the Corporation are appropriate and are inaccordance with the applicable accounting standards and with the accounting principles asprescribed in the IRDAI (Auditor's Report) Regulations 2002 or any order or directionissued by the IRDAI in this behalf.

k. The Corporation being the Insurance Company the Companies (Auditor's Report) Order2016 ("the order") as amended issued by the Central Government of India interms of sub-section (11) of section 143 of the Act is not applicable.

For J SINGH & ASSOCIATES For SAMRIA & CO
Chartered Accountants Chartered Accountants
FRN: 110266W FRN: 109043W
J SINGH ADHAR SAMRIA
PARTNER PARTNER
(Membership No: 042023) (Membership No: 049174)

l. With respect to the adequacy of the internal financial controls over financialreporting of the Corporation and the operating effectiveness of such controls refer toour separate Report in "Annexure A"

m. As required under section 143(5) of the Companies Act 2013 based on our audit asaforesaid we enclose herewith as per "Annexure B" the directions includingadditional directions issued by Comptroller and Auditor General of India action takenthereon and the financial impact on the accounts and financial statements of theCorporation.

n. With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

(i) The Corporation has disclosed the impact of pending litigations on its financialposition in its financial statements. [Refer Note 44(g)];

(ii) The Corporation has made provision as required under the applicable law oraccounting standards for material foreseeable losses if any on long-term contractsincluding derivative contracts. [Refer Schedule 13 & 14];

(iii) There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund of the Corporation.

Annexure - A to the Auditors' Report

Annexure A to the Independent Auditors' Report of even date on the Financial Statementsof General Insurance Corporation of India

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of GeneralInsurance Corporation of India ("the Corporation") as of March 31 2019 inconjunction with our audit of the standalone financial statements of the Corporation forthe year ended on that date.

Management's Responsibility for Internal Financial Controls

The Corporation's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Corporation considering the essential components of internal controlstated in the Guidance Note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute of Chartered Accountants of India ('ICAI'). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to Corporation's policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Corporation's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia.

Those Standards and the Guidance Note require that we comply with ethical requirementsand plan and perform the audit to obtain reasonable assurance about whether adequateinternal financial controls over financial reporting was established and maintained and ifsuch controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

Commensurate to the size and nature of the business we believe that the audit evidencewe have obtained is sufficient and appropriate to provide a basis for our audit opinion onthe Corporation's internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A Corporation's internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A Corporation's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the Corporation; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the Corporation are being made only in accordance with authorisationsof management and directors of the Corporation; and (3) provide reasonable assuranceregarding prevention or timely detection of unauthorised acquisition use or dispositionof the Corporation's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion commensurate with the size & nature of business the Corporationhas in all material respects an adequate internal financial controls system overfinancial reporting and such internal financial controls over financial reporting wereoperating effectively as at March 31 2019 based on the internal control over financialreporting criteria established by the Corporation considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls OverFinancial Reporting issued by the Institute of Chartered Accountants of India.

For J SINGH & ASSOCIATES For SAMRIA & CO.
CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS
FIRM REGN. NO.110266W FIRM REGN. NO. 109043W
J SINGH ADHAR SAMRIA
PARTNER PARTNER
MEMBERSHIP No. 042023 MEMBERSHIP NO.049174
Place : Mumbai
Date : May 23 2019

Annexure - B to the Auditors' Report

Annexure B to the Independent Auditors' Report of even date on the Financial Statementsof General Insurance Corporation of India

With respect to the directions issued by Comptroller and Auditor General of India asper Section 143 (5) of the Act in our opinion and to the best of our information andaccording to the explanations given to us:

i. The Corporation has disclosed the impact in its financial statement due todifference between title of ownership in respect of CGS / SGS / bonds / Debentures /Shares available in physical / demat format vis a vis amount shown in the books. [Refernote no.1(a) & 6].

ii. The Annual Investment Policy 2018-19 of the Corporation as approved by the Boardhas not prescribed any stoploss limits in respect of the investment activity. Stop-losslimits have been prescribed under the said policy in respect of scrips forming part ofthe equity trading portfolio. However the Corporation has not carried out any tradingactivity in equity during the year under consideration. There is no impact on thefinancial statements.

iii. During the year under audit the Corporation has entered/ renewed/signed 10 CapitalGearing Reinsurance Treaties. In the absence of any specific IRDAI Guidelines onaccounting of such treaties the accounting is done by the Corporation on the basis of theaccounting policy adopted by the Corporation for other treaties except that no UnexpiredRisk Reserve is created on such treaties in view of the fact that the loss to the extentof loss-ratio specified in each treaty is already provided for during the year. There isno impact on the financial statements.

For J SINGH & ASSOCIATES For SAMRIA & CO
Chartered Accountants Chartered Accountants
FRN: 110266W FRN: 109043W
J SINGH ADHAR SAMRIA
PARTNER PARTNER
(Membership No: 042023) (Membership No: 049174)
Place : Mumbai
Date : 23rd May 2019

ADDENDUM TO OUR AUDIT REPORT OF GENERAL INSURANCE CORPORATION OF INDIA DATED 23rdMAY 2019

With regards to the Directions issued by the Comptroller and Auditor General of Indiaunder section 143(5) of the Companies Act 2013 based on our audit we report hereunderon the action taken and the financial impact on the accounts of the financial statementsof the Corporation:

Sr. No. Directions under Section 143(5) of Companies Act 2013 Action taken and Financial Impact
1 Whether the Corporation has system in place to process all the accounting transactions through IT system? If yes the implications of processing of accounting transactions outside IT system on the integrity of the accounts along with the financial implications if any may be stated. The Corporation has system in place to process all the accounting transactions through IT systems except for -
1. Unexpired Risk Reserve (URR): The provision of URR is calculated manually based on the data extracted from the system and then the same is entered in the system. It is understood that the calculation of URR provision through system is under way.
2. Retro Recovery Claims: It is understood that claims recovery is processed manually and the data is maintained offline. After verification it gets entered in the system.
2 Whether there is any restructuring of an existing loan or cases of waiver/write off of debts /loans/interest etc. made by a lender to the Corporation due to the Corporation's inability to repay the loan? If yes the financial impact may be stated. Not Applicable as the Corporation does not have any outstanding borrowed money.
3 Whether funds received/receivable for specific schemes from central/ state agencies were properly accounted for/ utilized as per its term and conditions? List the cases of deviation. Not Applicable. The Corporation is a re-insurance Company and it does not receive any funds directly from State / Central Agencies for specific schemes.

 

For J SINGH & ASSOCIATES For SAMRIA & CO.
CHARTERED ACCOUNTANTS CHARTERED ACCOUNTANTS
ICAI FIRM REGN. NO.110266W ICAI FIRM REGN. NO. 109043W
J SINGH ADHAR SAMRIA
PARTNER PARTNER
MEMBERSHIP NO: 042023 MEMBERSHIP NO: 049174
Place : Mumbai
Date : May 23 2019