Annual Rep. 2008-09.pmd - The New India Assurance Co. Ltd.
Annual Rep. 2008-09.pmd - The New India Assurance Co. Ltd.
Annual Rep. 2008-09.pmd - The New India Assurance Co. Ltd.
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efo v³et Fefv[³ee SM³eesjvme kebÀ. efue.<strong>The</strong> <strong>New</strong> <strong>India</strong> <strong>Assurance</strong> <strong>Co</strong>. <strong>Ltd</strong>.Revenue AccountEstbd. 1919Marine Insurance Revenue Account for the year ended 31st March, 2009[Registration No.190, Renewal Date 13.03.2009]Particulars Schedule Current year Previous yearRs (000) Rs (000)1. Premium earned (net) 1 2317695 18857452. Profit on sale or redemption of investments (policyholders) - 128731 301559Loss on sale or redemption of investments (policyholders) 0 03. Interest dividend and rent (gross) - 344593 305289Total (A) 2791019 24925931. Claims incurred (net) 2 2771112 15823952. <strong>Co</strong>mmission 3 145463 2669443. Operating expenses related to insurance business 4 778043 5663194. Others - Foreign taxes 131 121Amortisation, writeoff, provisions - investments (2813) 225Total (B) 3691936 2416004Operating profit/loss(-) C=(A-B) (900917) 76589AppropriationsTransfer to share holders account (profit and loss account) - (900917) 76589Transfer to catastrophic reserves - 0 0Transfer to other reserves - 0 0Total (900917) 76589Significant accounting policies and notes to accounts 16As required by section 40C(2) of the Insurance Act 1938, we certify that, to the best of our knowledge andaccording to the information and explanations given to us, and so far as appears from our examination ofthe <strong>Co</strong>mpany’s books of account, all expenses of management, wherever incurred, whether directly orindirectly in respect of marine insurance business have been fully debited in the marine insurance revenueaccount as expenses.<strong>The</strong> Schedules referred to above form integral part of the revenue account.A. R. Sekar M. Razzack B. ChakrabartiDirector and <strong>Co</strong>mpany Secretary Director Chairman-Cum-Managing DirectorAs per our report of even dateFor SARDA & PAREEK For KARNAVAT & CO. For CHATURVEDI & SHAHChartered Accountants Chartered Accountants Charterted AccountantsNiranjan Joshi Shashikant Gupta H. P. ChaturvediPartner Partner PartnerMembership number 102789 Membership number 45629 Membership number 33523MumbaiJune 25, 200948
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