Executive Summary:
The document contains two notifications from the Ministry of Finance amending the National Insurance Company Limited Merger Scheme, 1973, and the Oriental Fire and General Insurance Company Limited Merger Scheme, 1973. Both amendments were made under the General Insurance Business Nationalisation Act, 1972, and are effective from the date of publication in the Official Gazette: March 18, 2020. The key change involves substituting the share capital structure in both schemes.
Key Points / Main Content:
National Insurance Company Limited Merger Amendment Scheme, 2020:
* Effective Date: March 18, 2020.
* Amendment to Paragraph 10: Replaces "rupees two hundred crore divided into twenty crore equity shares of ten rupees each" with "rupees two thousand six hundred crore divided into two hundred sixty crore equity shares of ten rupees each."
* Amendment to Second Schedule, Part I, Paragraph 2: Replaces "rupees two hundred crore divided into twenty crore equity shares of rupees ten each" with "rupees two thousand six hundred crore divided into two hundred sixty crore equity shares of rupees ten each."
* Amendment to Second Schedule, Part II, Paragraph 3: Replaces "share capital of the company shall be rupees two hundred crore divided into twenty crore equity shares of ten rupees each" with "The share capital of the company shall be rupees two thousand six hundred crore divided into two hundred sixty crore equity shares of rupees ten each."
Oriental Fire and General Insurance Company Limited Merger Amendment Scheme, 2020:
* Effective Date: March 18, 2020.
* Amendment to Paragraph 11: Replaces "rupees two hundred crore divided into twenty crore equity shares of ten rupees each" with "rupees two hundred fifty crore divided into twenty five crore equity shares of ten rupees each."
* Amendment to Second Schedule, Part I, Paragraph 3: Replaces "rupees two hundred crore divided into twenty crore equity shares of rupees ten each" with "rupees two hundred fifty crore divided into twenty five crore equity shares of rupees ten each."
* Amendment to Second Schedule, Part II, Paragraph 1: Replaces "share capital of the company shall be rupees two hundred crore divided into twenty crore equity shares of ten rupees each" with "The share capital of the Company shall be rupees two hundred fifty crore divided into twenty five crore equity shares of rupees ten each."
Impact Analysis:
National Insurance Company Limited and Oriental Fire and General Insurance Company Limited:
* Impact: Revised share capital structure.
* Action Required: Update financial records and governance documents to reflect the changes in share capital.
Key Entities Referenced
General Insurance Business Nationalisation Act, 1972: An act of the Indian Parliament concerning the nationalization of general insurance businesses.
National Insurance Company Limited: An Indian state-owned general insurance company, formerly subject to a merger scheme.
National Insurance Company Limited Merger Scheme, 1973: A scheme related to the merger of the National Insurance Company Limited, established in 1973.
Ministry of Finance: A ministry in the Government of India responsible for financial matters.
Department of Financial Services: A department under the Ministry of Finance in the Government of India.
New Delhi: The capital of India, where the notifications were issued.
Oriental Fire and General Insurance Company Limited: An Indian state-owned general insurance company, formerly subject to a merger scheme.
Oriental Fire and General Insurance Company Limited Merger Scheme, 1973: A scheme related to the merger of the Oriental Fire and General Insurance Company Limited, established in 1973.
रजजस्ट्री स.ं डी.एल.- 33004/99 REGD. NO. D. L.-33004/99
xxxGIDHxxx
सी.जी.-डी.एलxx.x-GअI.D-E1x9x0x 32020-218786
CG-DL-E-19032020-218786
असाधारण
EXTRAORDINARY
भाग II—खण्ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 1017] नई ददल्ली, बधु िार, माच च18, 2020/फाल्ग नु 28, 1941
No.1017] NEW DELHI, WEDNESDAY, MARCH 18, 2020/PHALGUNA 28, 1941
जित्त मत्रं ालय
(जित्तीय सिे ाए ंजिभाग)
अजधसचू ना
नई ददल्ली, 18 माचच, 2020
का.आ.1124(अ).— साधारण बीमा कारबार (राष्ट्रीयकरण) अजधजनयम, 1972 (1972 का 57) की धारा 16 की
उप-धारा (1) और उप-धारा (6) द्वारा प्रदत्त िजियों का प्रयोग करते हुए, केन्द्रीय सरकार, एतद्द्वारा, नेिनल इंश्योरेंस कंपनी
जलजमटेड (जिलय) योजना, 1973 में जनम्नजलजखत संिोधन करती ह,ै नामत: :
1. (1) इस योजना को नेिनल इंश्योरेंस कंपनी जलजमटेड (जिलय) संिोधन योजना, 2020 कहा जाएगा।
(2) यह राजपत्र में प्रकािन की तारीख से प्रिृत्त होगा।
2. नेिनल इंश्योरेंस कंपनी जलजमटेड (जिलय) योजना, 1973 (जजसका इसके पश् चात उि योजना के रूप में उल्लेख दकया
गया ह)ै ,
(i) पैरा 10 में “दो सौ करोड़ रुपए जो प्रत्येक दस रुपए के बीस करोड़ इदिटी िेयर में जिभाजजत है” िब्दों के
स्ट्थान पर “दो हजार छ: सौ करोड़ रुपए जो प्रत्येक दस रुपए के दो सौ साठ करोड़ इदिटी िेयर में जिभाजजत
ह”ै िब्दों को प्रजतस्ट्थाजपत दकया जाएगा;
(ii) दसू री अनुसूची में,—
1502 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(क) भाग 1, पैरा 2 में ‘‘दो सौ करोड़ रुपए जो प्रत्येक दस रुपए के बीस करोड़ इदिटी िेयर में जिभाजजत है”
िब्दों के स्ट्थान पर ‘‘दो हजार छ: सौ करोड़ रुपए जो प्रत्येक दस रुपए के दो सौ साठ करोड़ इदिटी िेयर में
जिभाजजत ह”ै िब्दों को प्रजतस्ट्थाजपत दकया जाएगा;
(ख) भाग 2, पैरा 3 में ‘‘कंपनी की िेयर पूंजी दो सौ करोड़ रुपए जो प्रत्यके दस रुपए के बीस करोड़ इदिटी िेयर
में जिभाजजत है’’ िब्दों के स्ट्थान पर ‘‘कंपनी की िेयर पूंजी दो हजार छ: सौ करोड़ रुपए जो प्रत्येक दस रुपए
के दो सौ साठ करोड़ इदिटी िेयर में जिभाजजत है’’ िब्दों को प्रजतस्ट्थाजपत दकया जाएगा।
[फा.सं. 14013/33/2016-बीमा-II]
सौरभ जमश्रा, संयुि सजचि
टटप्पण: मूल योजना भारत के राजपत्र, असाधारण, भाग II, खंड 3, उप-खंड (ii) में 31 ददसम्बर, 1973 की अजधसूचना संख्या
का.आ.806(अ) में प्रकाजित की गई थी और इसमें जिगत संिोधन 16 अिूबर, 2000 की अजधसूचना संख्या
का.आ.929(अ) द्वारा दकया गया।
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 18th March, 2020
S.O.1124 (E).—In exercise of the power conferred by sub-section (1) and sub-section (6) of section 16
of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby
makes the following Scheme to further amend the National Insurance Company Limited (Merger) Scheme, 1973
namely:-
1. (1) This Scheme may be called the National Insurance Company Limited (Merger) Amendment
Scheme, 2020.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the National Insurance Company Limited (Merger) Scheme, 1973 (herein after referred to as the said
Scheme),—
(i) in paragraph 10, for the words, “rupees two hundred crore divided into twenty crore equity
shares of ten rupees each”, the words “rupees two thousand six hundred crore divided into two
hundred sixty crore equity shares of ten rupees each” shall be substituted;
(ii) in the Second Schedule,—
(A) in Part I, in paragraph 2, for the words “rupees two hundred crore divided into twenty crore
equity shares of rupees ten each”, the words “rupees two thousand six hundred crore divided
into two hundred sixty crore equity shares of rupees ten each” shall be substituted;
(B) in Part II, in paragraph 3, for the words “share capital of the company shall be rupees two
hundred crore divided into twenty crore equity shares of ten rupees each”, the words “The
share capital of the company shall be rupees two thousand six hundred crore divided into two
hundred sixty crore equity shares of rupees ten each” shall be substituted.
[F. No.14013/33/2016-Ins. II]
SAURABH MISHRA, Jt. Secy.
Note: The principal Scheme was published in the Gazette of India, Extraordinary, part II, section 3,
sub-section (ii) vide notification number S.O. 806(E),dated the 31st December, 1973 and last
amended vide notification number S.O.929(E), dated the 16th October, 2000.[भाग II—खण् ड 3(ii)] भारत का राजपत्र : असाधारण 3
अजधसचू ना
नई ददल्ली, 18 माचच, 2020
का.आ.1125 (अ).— साधारण बीमा कारबार (राष्ट्रीयकरण) अजधजनयम, 1972 (1972 का 57) की धारा 16 की
उप-धारा (1) और उप-धारा (6) द्वारा प्रदत्त िजियों का प्रयोग करते हुए, केन्द्रीय सरकार, एतद्द्वारा, ओटरएंटल फायर एंड
जनरल इंश्योरेंस कंपनी जलजमटेड (जिलय) योजना, 1973 में जनम्नजलजखत संिोधन करती है, नामत: :
1. (1) इस योजना को ओटरएंटल फायर एंड जनरल इंश्योरेंस कंपनी जलजमटेड (जिलय) संिोधन योजना, 2020
कहा जाएगा।
(2) यह राजपत्र में प्रकािन की तारीख से प्रिृत्त होगा।
2. ओटरएंटल फायर एंड जनरल इंश्योरेंस कंपनी जलजमटेड (जिलय) योजना, 1973 (जजसका इसके पश् चात उि योजना के
रूप में उल्लेख दकया गया ह)ै ,
(i) पैरा 11 में ‘‘दो सौ करोड़ रुपए जो प्रत्येक दस रुपए के बीस करोड़ इदिटी िेयर में जिभाजजत है’’ िब्दों के
स्ट्थान पर ‘‘दो सौ पचास करोड़ रुपए जो प्रत्येक दस रुपए के पच् चीस करोड़ इदिटी िेयर में जिभाजजत है’’
िब्दों को प्रजतस्ट्थाजपत दकया जाएगा;
(ii) दसू री अनुसूची में,—
(क) भाग 1, पैरा 3 में ‘‘दो सौ करोड़ रुपए जो प्रत्येक दस रुपए के बीस करोड़ इदिटी िेयर में जिभाजजत है’’ िब्दों
के स्ट्थान पर ‘‘दो सौ पचास करोड़ रुपए जो प्रत्येक दस रुपए के पच्चीस इदिटी िेयर में जिभाजजत है’’ िब्दों को
प्रजतस्ट्थाजपत दकया जाएगा;
(ख) भाग 2, पैरा 1 में ‘‘कंपनी की िेयर पूंजी दो सौ करोड़ रुपए जो प्रत्येक दस रुपए के बीस करोड़ इदिटी िेयर में
जिभाजजत ह’ै’ िब्दों के स्ट्थान पर ‘‘कंपनी की िेयर पूंजी दो सौ पचास करोड़ रुपए जो प्रत्येक दस रुपए के
पच् चीस करोड़ इदिटी िेयर में जिभाजजत है’’ िब्दों को प्रजतस्ट्थाजपत दकया जाएगा।
[फा.सं. 14013/33/2016-बीमा-II]
सौरभ जमश्रा, संयुि सजचि
टटप्पण: मूल योजना भारत के राजपत्र, असाधारण, भाग II, खंड 3, उप-खंड (ii) में 31 ददसम्बर, 1973 की अजधसूचना संख्या
का.आ.805(अ) में प्रकाजित की गई थी और इसमें जिगत संिोधन 16 अिूबर, 2000 की अजधसूचना संख्या
का.आ.928(अ) द्वारा दकया गया।
NOTIFICATION
New Delhi, the 18th March, 2020
S.O.1125 (E).— In exercise of the power conferred by sub-section (1) and sub-section (6) of section 16
of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby
makes the following Scheme to further amend the Oriental Fire and General Insurance Company Limited
(Merger) Scheme, 1973, namely:-
1. (1) This Scheme may be called the Oriental Fire and General Insurance Company Limited
(Merger) Amendment Scheme, 2020.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the Oriental Fire and General Insurance Company Limited (Merger) Scheme, 1973 (herein after
referred to as the said Scheme),—
(i) in paragraph 11, for the words “rupees two hundred crore divided into twenty crore equity
shares of ten rupees each”, the words “rupees two hundred fifty crore divided into twenty five
crore equity shares of ten rupees each” shall be substituted;
(ii) in the Second Schedule,—4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(A) in Part I, in paragraph 3, for the words “rupees two hundred crore divided into twenty crore equity
shares of rupees ten each”, the words “rupees two hundred fifty crore divided into twenty five
crore equity shares of rupees ten each” shall be substituted;
(B) in Part II, in paragraph 1, for the words “share capital of the company shall be rupees two hundred
crore divided into twenty crore equity shares of ten rupees each”, the words “The share capital of
the Company shall be rupees two hundred fifty crore divided into twenty five crore equity shares
of rupees ten each” shall be substituted.
[F. No.14013/33/2016-Ins. II]
SAURABH MISHRA, Jt. Secy.
Note:The principal Scheme was published in the Gazette of India, Extraordinary, part II, section 3, sub-
section (ii) vide notification number S.O. 805(E),dated the 31st December, 1973 and last
amended vide notification number S.O.928(E), dated the 16th October, 2000.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.