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[Cites 0, Cited by 0] [Section 37A(2)] [Section 37A] [Entire Act]

Union of India - Subsection

Section 37A(2)(h) in The Insurance Act, 1938

(h)the allotment to the shareholders of the insurer for shares held by them therein before the amalgamation whether their interest in such shares has been reduced under clause (f) or not of shares in the transferee insurer and where any shareholders claim payment in cash and not allotment of shares, or where it is not possible to allot shares to any shareholders, the payment in cash to those shareholders in full satisfaction of their claim--
(i)in respect of their interest in shares in the insurer before the amalgamation; or
(ii)where such interest has been reduced under clause (f) in respect of their interest in shares as so reduced;