I need to know wether a private limited company do insurance business in India ??
Can private limited company do insurance business
SHASHANK AGARWAL (self employed) (114 Points)
08 March 2014
SHASHANK AGARWAL (self employed) (114 Points)
08 March 2014I need to know wether a private limited company do insurance business in India ??
Anjan
(Chartered Accountant)
(69 Points)
Replied 08 March 2014
Dear Sashank,
A Private company cannot do the insurance business in India as per The Insurance Act, 1938
SHASHANK AGARWAL
(self employed)
(114 Points)
Replied 08 March 2014
Thank you but if i form a public company, can then I do the business or there are some more conditions
CS MOHIT SALUJA
(PRACTICING CS Jalandhar 9914558709)
(5155 Points)
Replied 17 January 2015
Need to have approval of regulatory authority i.e. IRDA before applying for incorporation of company. If approval is sought, the company can proceed
CAclubindia
