The Life Insurance Corporation Act, 1956
Section 28A. Profits from any business (other than life insurance business) how to be utilised.
1[28A. Profits from any business (other than life insurance business) how to be utilised.--If for any financial year profits accrue from any business (other than life insurance business) carried on by the Corporation, then, after making provision for reserves and other matters for which provision is necessary or expedient, the balance of such profits shall be 2[allocated to or reserved for the members].]
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
Cases citing this section
No order or office report we hold cites this section yet.
Source: Order and office-report PDFs whose text cites the section, read by rule (document_citations); each case through its orders and office reports that carry the PDF