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[Cites 0, Cited by 0] [Section 55] [Entire Act]

Union of India - Subsection

Section 55(2) in The Insurance Act, 1938

(2)For the purposes of any reduction by theTribunal of the amount of the contracts of any insurance company the value of the assets and liabilities of the company and all claims in respect of policies issued by it shall be ascertained in such manner and upon such basis as theTribunal thinks proper having regard to the aforesaid.