Section 105B of IA : Section 105B: Penalty For Failure To Comply With Sections 32B, 32C And 32D
IA
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Explanation using Example
Imagine a scenario where XYZ Insurance Company, which operates in India, has recently launched a new insurance product. However, they have not maintained the required solvency margin as per section 32B, nor have they prepared and submitted the financial statement and auditor's report as required by section 32C. Furthermore, XYZ Insurance Company has also neglected to in...
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