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    Question

    As per the General Insurance Business (Nationalisation)

    Act _____________ means any Indian insurance company and, where a scheme has been framed involving the merger of one Indian insurance company in another or the amalgamation of two or more such companies, means the Indian insurance company in which any other company has been merged or the company which has been formed as a result of the amalgamation .
    A Merged Company Correct Answer Incorrect Answer
    B Acquired Company Correct Answer Incorrect Answer
    C Acquiring Company Correct Answer Incorrect Answer
    D Amalgamated Company Correct Answer Incorrect Answer
    E Transferred Company Correct Answer Incorrect Answer

    Solution

    Explanation: Section 3 Definitions: (a) “acquiring company” means any Indian insurance company and, where a scheme has been framed involving the merger of one Indian insurance company in another or the amalgamation of two or more such companies, means the Indian insurance company in which any other company has been merged or the company which has been formed as a result of the amalgamation.

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