Credit Guarantee Corporation Act, 1961
(hereinafter referred to as the DICGC Act) and thus guaranteed to its
depositors protection as contemplated by the provisions ... respect of deposits maintained by customers. It is submitted that the DICGC
Act contains a specific provision that protection under the provisions of the
Act
Deposit Insurance Scheme.
2.2. The legal framework for DICGC is provided by the DICGC Act, 1961 and the DICGC General Regulations,1961. Pursuant to opting ... Insurance Act, 1938 shall apply to DICGC in terms of section 43 of DICGC Act, 1961
(d) Deposit insurance is not a contract of Insurance
Corporation. This is as per the provisions of Section 16 of DICGC Act, 1961 in
I.T.A. No. 4794/Mum/2007: Assessment year ... treated as
deductible expenses. The liability under section 16 of the DICGC Act is an
enforceable liability and is not based on the receipt
time
and DICGC also failed to provide necessary funds for payment to the
// 4 //
depositors in time, under the provisions of DICGC Act ... DICGC on 30.07.08 and then the amount was provided
immediately by the Corporation, under the provisions of section 17 of
DICGC Act. The Liquidator
compliance with DICGC Act and the same is not outside
the boundary defined by the Act.
(b) Sec. 16(3) empower DICGC ... total deposit for
which DICGC collect premium.
(vi) I request DICGC to quote special provision under the DICGC Act or DICGC
regulation or otherwise which
Credit Guarantee Corporation Act, 1961 (hereinafter referred to
as the DICGC Act) provides insurance cover to small depositors. The said
Act remains on paper because ... DICGC to pay up to Rupees one lakh to
each of the depositor as provided under Section 16 of the DICGC Act.
V. In
view
Credit
Guarantee Corporation Act, 1961 (hereinafter called as 'the
DICGC Act') which extended a protection and guarantee to
the depositors. The merger/amalgamation ... operative
bank which would mean a bank insured under the DICGC
Act. The condition under the DICGC Act was in respect of a
insured bank
Credit
Guarantee Corporation Act, 1961 (hereinafter called as 'the
DICGC Act') which extended a protection and guarantee to
the depositors. The merger/amalgamation ... operative
bank which would mean a bank insured under the DICGC
Act. The condition under the DICGC Act was in respect of a
insured bank
Credit
Guarantee Corporation Act, 1961 (hereinafter called as 'the
DICGC Act') which extended a protection and guarantee to
the depositors. The merger/amalgamation ... operative
bank which would mean a bank insured under the DICGC
Act. The condition under the DICGC Act was in respect of a
insured bank
Credit
Guarantee Corporation Act, 1961 (hereinafter called as 'the
DICGC Act') which extended a protection and guarantee to
the depositors. The merger/amalgamation ... operative
bank which would mean a bank insured under the DICGC
Act. The condition under the DICGC Act was in respect of a
insured bank
