Accounts and balance-sheet
Section 11 of the Insurance Act, 1938 deals with accounts and balance-sheet. sheet. --(1) Every insurer, on or after the date of the commencement of the Insurance Laws (Amendment) Act, 2015 (5 of 2015), in respect of insurance business transacted by him and in respect of his shareholders' funds, shall, at the expiration of each financial year, prepare with reference to that The Act came into force on 01 Jul 1939.
1[11. Accounts and balance-sheet. --(1) Every insurer, on or after the date of the commencement of the Insurance Laws (Amendment) Act, 2015 (5 of 2015), in respect of insurance business transacted by him and in respect of his shareholders' funds, shall, at the expiration of each financial year, prepare with reference to that year, balance sheet, a profit and loss account, a separate account of receipts and payments, a revenue account in accordance with the regulations as may be specified.
(2) Every insurer shall keep separate accounts relating to funds of shareholders and policyholders.
(3) Unless the insurer is a company as defined in clause (20) of section 2 of the Companies Act, 2013 (18 of 2013), the accounts and statements referred to in sub-section (1) shall be signed by the insurer, or in the case of a company by the chairman, if any, and two directors and the principal officer of the company, or in case of an insurance cooperative society by the person in charge of the society and shall be accompanied by a statement containing the names, descriptions and occupations of, and the directorships held by, the persons in charge of the management of the business during the period to which such accounts and statements refer and by a report on the affairs of the business during that period.]
Section 11, The Insurance Act, 1938 (Act 4 of 1938).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Made under this section, and citing it
1 instrument names this provision in its title or its text without being made under it.
Questions about Section 11
What does Section 11 of the Insurance Act deal with?
Section 11 of the Insurance Act is headed "Accounts and balance-sheet". [11. Accounts and balance-sheet. --(1) Every insurer, on or after the date of the commencement of the Insurance Laws (Amendment) Act, 2015 (5 of 2015), in respect of insurance business transacted by him and in respect of his shareholders' funds, shall, at the expiration of each financial year, prepa
How do I find court cases under Section 11 of the Insurance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Insurance Act 1938 11, section 11 Insurance Act 1938, section 11 of the Insurance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 11 of the Insurance Act, and has it changed?
Its own text turns on Companies Act 2 (Definitions), so none of them can safely be read on its own. 5 other provisions in this corpus refer back to it. One instrument names it without being made under it, most recently Insurance Regulatory and Development Authority (Licensing of Banks as Insurance Brokers) Regulations, 2013 (2013).
When did Section 11 of the Insurance Act come into force?
Section 11 of the Insurance Act, cited as Insurance Act 1938 11, came into force on 01 Jul 1939, having been enacted on 26 Feb 1938. It is in force as at the date shown on this page.
Other sections of this Act
- 37A. Power of Authority to prepare Scheme of Amalgamation1733 words
- 3. Registration1612 words
- 2. Definitions1604 words
- 106. Power of Court to order restoration of property of insurer or compensation in certain cases1514 words
- 114A. Power of Authority to make regulations1275 words
- 6A. Requirements as to capital structure and voting rights and maintenance of registers beneficial owners of shares1136 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 17 Oct 2026. This page is not a substitute for legal advice.