Prohibition on loans or advances under Insurance Act, 1938

FCS Deepak Pratap Singh , Last updated: 21 June 2021  
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SECTION 29 provides that (1) No insurer shall grant loans or temporary advances either on hypothecation of property or on personal security or otherwise, except loans on life insurance policies issued by him within their surrender value, to any director, manager, actuary, auditor, manager or any

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Published by

FCS Deepak Pratap Singh
(Associate Vice President - Secretarial & Compliance (SBI General Insurance Co. Ltd.))
Category Corporate Law   Report

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