Question

Under the General Insurance Business (Nationalisation) Act after making provision for bad and doubtful debts, depreciation in assets, provident, superannuation, welfare, and other funds, debts due to the Government what is the requirement for every acquiring company?

A The company is exempted from distributing profits
B The company should distribute the balance of profit as dividends
C The company must invest the balance of profit in government bonds
D The company should create a reserve fund for future uncertainties
E The company has the discretion to decide the utilization of profit
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