IRDA (Investment) (Fourth Amendment) Regulations, 2008

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~ Uo i\o $0-33004/99 REGD. NO. D. L.-33004/99 :111~ c I a:r. ~- ~ q,a ~he <GaLette of ~ndia 3H!TURUT EXTRAORDINARY ~III-Wls4 u. 127] No. 127] PART III-,Sectiod 4 . Ql~<liH ~ Q<lilftilii PUBLISHED BY AUTIIORITY ~ ~. tllllcITT, 3f'ffil 11, 2008/lJTTclUT 20, 1930 NEW DELHI, MONDAY, AUGUST II, 2008/SRAVANA 20, 1930 -.i\1!T P<lfll<1lll!fi aftt mm~ ~ ffl,ll1;, 30 ~' 2008 -afr..1 fi'lf'1<llll<li dTtr mm~(~) (-.rwI ,:i~il<R) ~, 2008 liir. ~- oit.ftfftfi;rr. P<lf.1<1111s;47;2oos.--inf'l'li<"l, fl o!f'IR'I'!, 1938 ( 1938 ~ 'lRT 4) 27'l>, 27&., 2TEI 3itt 114 ,t i;ro ~ "W'@1TI <1>1 'll'lT'T '1i«'I ~. -ai\ii, \-lclm"'" mlml ,t "tfU'm ;1 fl fqf.pi,q,., afu ~ w,mur cf.rem) f<1f1<111 ➔, 2000 f.;r,,,m ~ 16 wrnr , 2000 <ITT 'I>!. -.i. oft. m.m. m. fc!f.r,:rq;312000 = ,t = 11' -ai'\ R'IT'!> 31 ~. 2001 <ITT 'I>!. U. >ft. fc!.fc!. YI. fc!f.r,:rq/5/2001 milf,:ra 'llffi! ,t m<R i;ro !f;3ll 3itt R'IT'/, 2 3Ne!, 2002 TJil. U. >ft.fc!.fc!. YT. mR'14/3/2002 o'll 5 ~, 2004 <ITT 'I>!. U. >ft. fc!.fc!. YI. mR'14/l/2004 'llffi! Ti; "lPf'fil i;ro ffl'R !f;3ll, "'1 ffl'R "i'R'I cF m.,_ r.,...,fMfo,a r~ OR@! t, a:r,mi. :- ,. ml\l'<r'!Tlfafn''!!TN I. .-1 fc!f.r,rqJ "'1 "<-lf8.l'<f 'If'! fl fctf1'114'½> JR~ -inf~ (f.rern) ("'¥o.f ffl'R) mR'14, 2008 t I 2 'l ~ 11' "ll'f,fffi ~ ~ '1 "ll'f<I "ITT'! I 2. qfl:q1q1 >i\<n fqf-1<1111'½> om~ W'l'li<"l (fl'!f.rcml mR<14, 2008 -,t fc!f.r,:rq 2 11' . I. "1mT (-) 31,:,)f<!lfo,a ..,, ~ m :- [ ( -)" f.rern ,iqfu,jj " '1 o!f'lll!l'I:] (i) -;;ftcR oit4r <l>of q; 1'!flIB -q (<t,) 3ffi'1T<'I> ~ f.!f'-1 "11 fl 'W'R q; 1'.Jlfar➔, ?JrR ITT'l, oit41 ~ -,t IB1s i'ri: ~ a:rrn,wir, 'llffiTT'1l<'I> ,t mt'4J7it o'lT i'r,: W'll'TI f.!f'-1 ("&) 'llffiTT'1T<'I> ,t ffl f.!f'-1 o'll m'ffiUT ll?j_it ~ ffl ~ 'F'l "I< (TJ) 'llffiTT'1T<'I> ,t ¥ a:rrn&rai ?JrR ITT'l, fl~ ffl orram: 'F'! 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"l1TT -g I (I) 2 HIE GAZETTE OF INDIA: EXTRAORDINARY (ii) 'll'l'llw (11 "' ) a,.,]f.,fo1<1 q;-r 1'!IR ('l'1T :- (11 ,i;) " '-rf" 3!N!IT'I: [PART III-SEC. 4) (iJ ~"' ~ -n atfb,i;-..iftt;, c!tft6tii"" "liq -rr-rr, -...f. -..ml\, "'IRlTIT mro r-PTflra m<N, -...f '11-..mr, mro (iii) ~ (11 lll ) atalf.,fo1<1 aro "1'1'1m 1'!IR ('l'1T :- (1111) ~ ,n.;m-= ~ ""'111" Wl'Sl if ,milIB t R"'f fiamlra 1'f'J lf'f'I ""1 f'lfu,{t ~ qfl Q<ii,ill it ~ 'f'i "tt 3lfu,i; -mr<t 'I ~ I 6. ~ fflR"01f .;\ ~ 1-...n II*~ 3. f.r.m * fflR"01f J OJ ,tt,s.""""", ..tiTf.f'1'f ,,ft""' 27rr if wt '7'i ,.,.,,,.,,, J. 3"J"" ~ 'llf fimfmr o;,,rr ..i """=mu i/ ~ ""'1firot. -,,,/Tri,ft """""1.,,.,,, ,,,// !!luft ;/; 'JR" ~ -, ~ f.rfir ,.., '"" m ""f'"'1 ;/; fi.rrr o,tf ,Ht, ~ ,t\ tl1TI 27, 271( :it fi<"1 ~ ..... -...II ,n,mr,,\ ,rr ,ft..( ,ftqJ -.;rat. f.mr -.;ti\""' f.mr _jj Wt ,.,.,ft f.r ,m -.,-.qfu,;\ (m,m-vJ -..fim """"" ""' f.,fu """'"' .....,... 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I 5% TI q,q 'lt1 [(iii)'" c'-TT,,. ,i;'r m,;r <Zit s", J l_ __ _L_ _________________ --~-- ----- (2) ~""' """""""""-'\ _,..., - ll'I\ ,ft,n,.,,f f.mT i,;tit ""'~.....-~wt ..t f.mm -ii ,n""" ~. ffltm"DT ~ 1QcfflR ii a&IR-tfan m f.:rm ?RTrr:- ,rem R<m'flll<liR (i) ~ im'l'ilfll (ii) I ~ im'l'ilfll = 3RI 'lR@l = ~ I : (iii) flif.'l<l~~ 5 oft ~ c ij omni 'f-il fli~il><J:"I 1TT'fil><fi Wil'l ij 3l !um- il>1 3J:!'lfu f.ITT) ij f.!mr 1;T'Tf I -- ---- Alma ---~--- i I f.'lfu sS 20 % it q,q 'lt1 ~--.\ 40 - -- . I %"ff I mflrR m I q,q 'lt1 ( ~ ) : --··-- f.'lfu "fl 31fuq; 60% 'lt1 L_ f<urn : -.ftm ~ 1938 -.ii ,mr 271! (2) -ii r.m,, firi '1'I .. ..,., f.,,,,. "-ii 'filf ,ii f.mT m- fi!f.,-q,f * 1l'itaA * fl<1! 'filf ,11 filim ..-tr m, m ,11 f.!iil f.a'lifiT """" 11" -.ftm _,..., " t 11"' ri • ~•••·'"'"' ,r,;r wr 1!>TITI< -- "" ,m ~- -ii>R ""' """"" -.fim f.,ii, ~ f.m, '5l 'IIT'T -.,.l,ir ""' ~ - ii R1f>T * -qt,,..,-""'"' 3 4 THE GAZETfE OF INDIA: EXTRAORDINARY [PART lll-SEC. 4] <JJ~ 1Ra;;ftq-, _,,,,,,_ mu ,itm-..,,tf.my-.;tit,,.,, fuffitw,tn WR~ f.!fi,'"' ef-R m'""' f.!fu..,. ~ "' ,fl 'l1ffif\ trrnlt * fta1( ~ f.,; ,,t t ~ 'jf.iil,.,. ,,_. i.,,,,-""' t"" ~ .ft -!lui\ ,fl f<ra;-q t - ,mn.ft " "'"""""' i I fl..- ,it '¥f f/mr 3"" f.,,m -ii, m ,ii.., ~ 1938 .ft qm 27,i (2) -ii r.,lh, f.,;,l- ,,,\ t f<l;m_ mr<r ,ii T-{f.,!i,,/i-.,;r25% -,\ami.;'lt\~. 4. f.mt "' ~ ,ft-qi f•fao,qq; 311,- fl,,,;r,r ~ ( f.ml) ~. 2000 ~ fi,f.,Qq 4 ,.,- a,,rlfMf&a it '!rnlfua li,;,,r ,rr,l,n-1 4 (I) ,mm-vr ,nm_,,,,,,~ .ft um 27...- -,If.RT~~. mu~'"' ffllITT"T ;ftq-, .,.-;\ t, f.my .;tit""' f.ml-i!wt R"fmROnw,;J<-,\:- 1.m!TT! 3lT'ITf! t<e cm ~ ,t 'Its= fi;ffi , . .ts cm ~ i3fTqffi ,i;:ui ~ ,t ~ m m ~ 3fl<ITTl t<e it "" ~ "' ~ llRlill = m =~am 7fffi'\ = ~ (<tm ~ ~) flrf.\w! , 1999 ,t 3Rl'TT! tj.:;fiq;_c ~ ~ it '""' qft ~=mi 3.w<m'PTT it WM<! m/r>jf<'r ,t; WTT 3fl<ITTl ,i;:ui_ >'! ~ ,t 3Rl'TT! llff<lTT <f,1 ~ <lim ~ I Tf. ,,t,/1 Tfc l'R ij f.im,r . ( <-'<<e'i,,;,•1 : ~ m ~- ~ mu qft m\s cm m/r>jf<'r 20 %-it~~ -f.'!f.n ~ 30 5% -ff cpl{ -=rgl ! it w1ffir ~ ,t; m,:r 3l1"IR if ~ 'ff"m\ >'I ~ ,t; 10% it ""' 'It\ ~3W<l,i,\,fi I -;fl;n Rlf.1<11% SITT f<rim, ~ ( >11«fui -.frlT ~ <!>T ~ ) mnm ~ 2008) ,t ~ I <!>T 2 ~ ('fi1 ) ij ~ Tf71 u'MT Tfc ~ <!>T 310 I [ 2) 'fl,il,n _,,,,, - mu ~••1•,,.ai ,it ..,,,,- if ~ ~ t, f.,,m,.,;, ""' .....-, f.!ffl -ii wt WR f.,,m ~ am ""'1T-,\ ;;rnr .ft '3'I ~ (I) -ii ""1'11 '1'11 t m w,q -• ...,f.,; 1friiT<,;m 1ITl1 l'!* IBl( 3lWr ~ 'RT<> ,nit I ['ll'IIJI-i;Jui;-4] .ft,;, P,f.,,,,qq, 3itl ~ ~ ( f.!am) ~. 2000 ii,~ 4 '1ST ,nn (2) ii> 3R1 it 'lie~ f :RC -'l,i,fAP1i1 « ~f<.<IT"llWTI- fztqvJ - ~ 3 o'l!T 4 ii> ~ ii> ~ 1. W'1fum - ~~it~ f.!am ~ = '1ST = * 3!'J<lR t1m w'! "iR f.!;- ~ t. ~ m f.!am ~ me ii ""1 .r-ft~~.,,.~~t\z,iw'f;;rrw@e!~wi"!ITTw°!'flll 3.*-i\ ii> (~ tlm ~) ~ 1999 ii> 3R1'ffi ~ tw1 ~ TI W1 = f.rnllrcr .is = !rtw ~ rm: ,i - W'!'li;\~ ;,;\o'l![qotj\ 1-ii>-'l;i\ i'ffl ~ii,.rg,~. "!tTT WTTUT 'IS[=~ WTT ii, ~I 4.W'T f'lil 3Nf! 'ITT«IT'l fi,fu<! m><ll f'lil ~ am,i\~ TI l!Rfi1T ;i\ ii> rm: = <m<R wi 'lF'f itrft, ~ n, ,iiui\ sST f.iirn ~f.!am~ m.ftolml ,i;i,.i\ ii>'lffi~'l;i\o'l!Tf.mr sSR m.ft~~ '1ST f.!am wwi ~ ',"T F'T fl~" ir <lt ni* 'fiRUIT '"1 R'ffi ~ ii, ~ it ftsSTi f<.<11 "1Rl ~ I f.lam ~ f.lam '"1 ~ cfS< Wf,ffi f' f;m'!i1 i'ffi'J: ni>J ~ + TI - " m 31Y<6ll <ITI<R ;it ;;\m 'Iii lRTT it#m ;;m W1 '1ST tj m "IT f.!;- .loft ii> (llsm: WT ~l ~ 1999 iis 3Rl'T1! ~ WT ~ TI = ;it '"1 ' ~ f.$1 ' 'l'\<T "l1WTI I s ~ f.mr otmw * ~ 3 - 4 * JRl'IB, • m - w'! 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'iJ1'f'f Wff"'"'8 TTllT•;<i'Jfl/w;m""'.,,, ,,_ ,,.,,,,.,, m <rr ""'; r.,11Ab1 ,;/ "lR ,t """!ff '5T .,,,,, Rffl '" mfir,r fi,;w ;;m/,,r, " ,fir ,i\,rr ~ aft< ~ "'""""" ( f.!<m) ~. 2000 ~ I ,s\ r.,f.,,ayf..f(.j.mfqma J ~ f'l;,n ,wl,n 1 37'f'f'l/ l (~ flJf.ro,r 3) ~ 'lf>'t l!fTn' 17""' 3T'lf'f,,- ~ firfif<m,, ,,.,/fr.Ira"~ mr, o.) ~ 'lf>'t l!fTn' 17 '! ,.. 3T'if'(,r ~ ,r,11 ~ """"- (1) ~ '1ir '1m 27'[ -q, .JR1Wf ,ft (IJJ)-q, '3'llft (/)17' (ii) 3A f.,;,ft ~ it fu,ra """' m,f/f ~ """ ,iQq;' fl.or "'1t p ,Am -.ft 31fuf.w, -.ft >ml 27 ~ $ ~ amii:..- (I) * """'ffl (~)it-""' t, .. ~ q\'\ <ITTT i.l .. q\'\ '3'l'1'RI (I) Ii ~ .,.it =m * 31:Pfi ~ <fi1 fl!AA= ~ cf, ~ f.rffl ,t 3ffiifun f.f,) ~ .,.it f.rffl ~ ~ ;j\ 'lR -;;n,tit I (i) ff~ 1938 q\ ~ <l'ft W<'fi n"T ~ ~- ~ ,rril', 'fl'll 3R1 n"l fi'mm ~ 'TTc <f; 31:JfflR ~ ,ft 'TT t ;;i\ ~ 3 elm 4 'fi1 ~ t I ~ cm ~ 3025G108-2 9 10 THE GAZETTE OF INDIA: EXTRAORDINARY [PART IIl~SEc. 4] oo = ~ ~ ~ 3!ft@ 'lffilTTl f<tfta<I mo.mil it vfRT filIT:rr t ~ 'lffilTTl RvTT! ~ <I l!RIBT l!1'<I t - f.rffi q;'\ f.rffi I¾\ ~,11f.'14,i1 J; 3f'.l'ITT fi!>m "lT'JT ~ I "'1'lr<li c'-!T ;:;ftfwi 1lmlR 'IA'!> ,t; 3Rl'TTI, WIT~ ,l1-,1e,;ct1[ ,t; f.rfflrq; ~ it ~ /$!rr ITT I (ii) m = ~ ~ WI q/qf.t,/f am vfRT /$!rr 7f1IT i?t ~ ~ = ,1 = ~ 1': m ~ offiiR j': <1'!11 qt 1 3l2l'!T ~Of~ me, Wfl! <f; ill« <f; ~ i_ ~- vf'IT <f; lPWfQ, ""' qlfilt"'l<h q,r ~ ~ ~ ~ am vii ~ ,t; ~ ~ ~ J ~ I 999 cis 3Rl'TTI "ITT q;) ~ f.rffi 'fl'TT aw!'TT I (iii) ,11.,,e,;ro[ J; f.tfflrq; ~am~ 'lRqSj = wrr3li .;'t = it ffl"il s11 = . fvPP'i -.j\,n 3lfuf.nr,i 1938 <!l\ 'Im 27 <h" (9) ,t; ~ vf'IT mJi'rar ~ ~ <f; &,21 /"'1 fc!s <ITTj ~ it "ITT. <!>Tc! vf'IT, ~ vf'IT, vf'IT <hT lf'!TUT Q,' ~ .) q;) ~ mfitR /$!rr >nn f, ~ fM'I ~ ~ / 9 3 4 ( I 9 3 4 <hT 2 ) ,t; ¢ = it <1'!11 ;rn vPTT /$!rr 7f1IT lIT'1fi'rq; ~ ,t; QR! ~ rmft,i ft;:;fq ~ <I '!R@T l!l'cf t I (iv) ~ ""1'R <1'!11 ,Rt~~ =m ~a/T )R;rn-atr ,"lltRT ~ e,;,4lhH = m,n em <!l\ ~ t = ~ rmft,i fM'I ~ am 'i'-<@T = t c"1 fum<hT ~ flrR. u!\ wr, . = <I'm ~ f.\fu ,'t t = '!l' ~ f.rffi <ITT ,;pr t vii <!l\ ~ '1 ,m w.-cr ii v!RT f<oit 'f4 ,t; 3f'.l'ITT ~ f.\fu Mf j': tiTT fil; 1/<h" WI ilJ"1R fuml 'c f.\im t I (v) -.j\,n ~f.'141-,e,; f<lq,rn ~ ('1ml\4' -.j),n q/qf.t,/f <1>1 <iRlie,;,,, J mnRrn ~ ]IJ08 <i; fltf.\WR 2 <!l\ Elm ~ } ,t; 3Rffil ~ im'r>J.ft'! ,l ~ cf"1 'Jo ,;:ur ;j; &,21 3l'-l<TT ~ <ITT!!'@ m1i'tm t ~ ~ '@ ~ ,t; ""' it ~ rlIT:rr 7f1IT t (vi) fll,,ft q;q,fr am v!RT f<oit Tf4 s,fil,,,,e,; it'!'<= 3!ftrR ~ m<TT fum<hT ~ ft;:;fq ~=· ~~~am ~,t; ~~~ )~ 1999,r; JRPTT!l'T <hT ~ f.rffi I. -itc: it m1i'rar <f'fi ~ ' ~ ' fltf.iWR 3 1l'IT ./ <hT 31-Jffi'f'[ rlIT:rr 'C!lWTT I 10. ar,pp/tll ,(Ir,, ~ 31lr !ir,,;r,, w/Wim ( f.,,m I /i,f-r,,,;, 2000 "1'['11 !I ..I f-1'-rfi.if&rl '1 'lITTTfiffl fi.'lT ,rriro 1 ~II (W'M-,..,.3) ... 3JAA,@ <!l\ 'Im 27 'l! it ~ Tfll <flfi f.'r<m ~ j': 3TQ<lT1:' • [WIIll-l§,rg4] ~ "!f;T"""'"' : -= (ii) 3Fl! fli;m ~ it fi>m 3f'R'f WITT!~ lll<!ll -.j'l'I, ll!;.rr l!lTT it~ '!SI~ '!SI 'ITTT 27 i;: ii; 3R,'11'! ~ (I) ii; <IT'f'ITT'T (i,.,) it "i@Tllf lJlTT t;-I i,i. 3lNR'!lf <!SI 'ITTT 27 i,i <!SI =. 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R"T"I ~ .m tn=T = t - ~ ~ fir.c:, aft ,'la,; - o{"ff ~RN~ t ,it fe!; i;:a,; 'A .r;m: ITTl'lcl Rim k I (vi)-.i\m f«f-,,Ma,; mm~ (,mm,:r -.i\m ~ s\1 ~) mili>ffi ~ 2008, ssr 'ITTT i'c'I) if; 3R!'IB wrirn<ir >l@'l.@ TI ~ - 'Ji' "'1'T if; '11'[ = f;Rit ~ ~ t ~ ~ ~ if; ,<q ii 'lR:'llTI'IB M '1'l[ k I (vii) flnm <i>'Rt .m ;;irtt f<wt ,,,l .,fu,"'<a,; '1'11: =' ~ 'lffiW! lTT'I! f;rna,;J "ITTi'TT'1 ftzj -ira,; = iFfuc &'! rrifm ;;m air ~ ii; (llmR: WT ¢;ml)~ 1999 ii; 3Rl'Tff it s\1 ~ Rem 1 (Viii) ~ ii; ~ 2 (TP1) it ~ 'A 'ir'lR r.rlffir I 11 12 TIIB GAZETTE OF INDIA: EXTRAORDINARY [PART Ill-Sec.4] ., g m I t &!, ; - 1:'; I g i ~ i ,.., , ., ~ I i i I ~ t. ! i g I &!, ~ - i ~ g "' , i ,.., 1:'; "' ~ i ; ! i ~ € ~ ; ~ &!, ~ -I g . ! If i ,.., ,ttc, ,,.~ a i ~ 'W ~ " ! K ·~ i "' i ~. 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' ~: : , I f ]i ~ <&' ,'Ii ' ' ' ' ['!llTIIl-=4] INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY NOTIFICATION Hyderabad, the 30th July, 2008 Insurance Regulatory and Development Authority (Investment) (Fourth Amendment) Regulatorys, 2008 F. No. IRDA/Reg./5/47/2008.-In exercise of the powers conferred by Sections 27 A, 27B, 27D and I 14A of the Insurance Act, 1938 ( 4 of! 938), the Authority, in consultation with the Insurance Advisory Committee, hereby makes the following regulations to further amend the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, notified on! 5th August, 2000 vide F. No. IRDA/ Reg./8/2000 in the Gazette oflndiaand amended on 31st May, 2001 vide F. No. IRDA/Reg./5/2001 in the Gazette oflndia, further amended on 2nd April, 2002 vide F. No. IRDA/Reg./3/2002 in the Gazette of India and further amended on 5th January, 2004 vide F. No. lRDA/Reg./1/2004 namely:- 1. Short title and commencement.--{!) These regulations may be called the Insurance Regulatory and Development Authority (Investment) (Fourth Amendment) Regulations, 2008. (2) They shall come into force o~ the date of their publication in the Official Gazette. 2. Definitions.-In Regulation 2 of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, (i) Clause (ba) shall be substituted for the following: ((ba) "Investment Assets" mean all investments made out of: (i) in the case of a Life Insurer (a) shareholders funds representing solvency margin, non-unit reserves of unit linked insurance business, participating and non-participating funds of policyholders (b) policyholders funds of pension and general annuity fund at their carrying value and (c) policyholders unit reserves of unit linked insurance business at their market value and (Ii) in the case of a General Insurer 30 Tiffi GAZETTE OF INDIA: EXTRAORDINARY [PART Ill-SEC. 4] ( a) shareholder funds representing solvency margin and policyholders funds at their carrying value as shown in its balance sheet drawn as per the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors• Report of Insurance Companies) Regulations, 2000, but excluding items under the head 'Miscellaneous Expenditure'. (ii) Clause ( ca) shall be substituted for the following:- (ca) "Group" means: (i) two or more individuals, association of individuals, firms, trusts, trustees or bodies corporate or any combination thereof, which exercises, or is established to be in a position to exercise, control, directly or indirectly, over any body corporate, firm or trust, or (ii) Associated persons, as may be stipulated by the Authority, from time to time, by issuance of guidelines under these regulations. (iii)After clause (ch) the following new clause shall be added:- (ccJ Money Market Instruments Money Market Instruments shall comprise of Short term funds with maturity not more than one year comprising of the following instruments: 1. Certificate of deposit rated by a credit rating agency registered under SEBI (Credit Rating Agencie.,) Regulations, 1999. 2. Commercial paper rated by a credit rating agency registered under SEBI (Credit Rating Agencies) Regulations 1999. 3. Repos, Reverse Repo 4. Treasury Bills 5. Call, Notice, Term Money 6. CBLO as per Schedule I and II of these Regulations. 7. Any other instrument as may be pre;;cribed by the Authority. 3. Regulation of Investments Regulation 3 of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000 shall be substituted for the following:- 3. (I) Life Business: In terms of the Explanation to Section 27A of the Act, the Authority has determined that assets relating to Pension business, Annuity business and all categories of Unit Linked business shall not form part of the Controlled Fund for the purpose of that section. Without prejudice to Sections 27 or 27A of the Act, every insurer carrying on the business of Life Insurance. shall invest and at all times keep invested his Investment Assets (other than [ 'WT m-wrs 4 l fonds relating to pension and general annuity business and all categories of Unit linked business) in the following manner: No (i) (ii) (iii) T,me of Investment Government Securities Government Securities or Other Approved Securities Investments as specified in Section 27A of Insurance Act, 1938 and Schedule I of these Regulations, subject to Exposure I Prudential Norms specified in Regulation 5: a. Approved Investments and Other Investments (Out of '(iii)a' 'Other investment' specified under 27A(2) of the Act, shall not exceed 15% of the fund) b. Investment in housing and infrastructure by way of subscription or purchase of 1. Bonds I debentures of HUDCO and National Housing Bank 2. Bonds I debentures of Housing Finance Companies either duly accredited by National Housing Banks, for house building activities, or duly guaranteed by Government or carrying current rating of not less than 'AA' by a credit rating agency registered under SEBJ (Credit Rating Agencies) Regulations, 1999 3. Asset Backed Securities with underlying housing loans, satisfying the norms specified in. the guidelines issued under these regulations. c. Investment in Infrastructure: (Explanation: Subscription or purchase of Bonds I Debentures, Equity and Asset Backed Securities with underlying infrastructure assets would qualify for the purpose of this requirement. 'Infrastructure facility' shall have the meaning as given in clause (h) of regulation 2 of Insurance Regulatory and Development Authority (Registration of Indian Insurance Companies) Amendm'l;t Regulations, 2008) Percenta!!e Not less than 25%ofthefimd Not less than 50% of the fund (incl (i) above) Not exceeding 35% of the fund Not less than 15% of the fund [ (iii) b and c taken together} (2) Pension and General Annuity Business - Every insurer shall invest and at all times keep invested funds belonging to his Pension and General Annuity Business in the following manner:- 31 32 THE GAZETTE OF INDIA · EXTRAORDINARY [PART III-SEC. 4] No Tvne of Investment Percenta2e Not less than (i) Government Securities 20% of the fund Not less than (ii) Government Securities or Other Approved Securities 40% of the fund (incl (i) above) (iii) Balance to be invested in Approved Investments, as specified Not exceeding in Schedule I, subject to Exposure I Prudential norms 60% of the fund specified in Rermlation 5. Note: For the purposes of this sub-regulation no investment falling under 'Other Investments' as specified under 27 A (2) of Insurance Act, 1938 shall be made. However, fund, pertaining to Group Insurance Business, except One Year Renewable pure Group Term Assurance Business (OYRGTA) shall form part of Pension and General Annuity Fund. OYRGTAfunds sha,11 follow the pattern of Investment of Life Business. (3) Unit Linked Insurance Business - Every insurer shall invest and at all times keep invested his segregated fund of Unit linked business as per pattern of investment offered to and approved by the policy-holders where the units are linked to categories of assets which are both marketable and easily realizable. However, the total investment in Other Investments, as specified under 27A (2) of Insurance Act, 1938, category shall at no time exceed 25% of such fund(s). 4. Regulation of Investments Regulation 4 of the Insurance Regulatory and Development Authority (Investment) Regulations. 2000, shall be substituted for the following:- 4. (1) General Insurance Business - Without prejudice to section 27B of the Act, every insurer carrying on the business of General Insurance shall invest and at all times keep invested his investment assets in the manner set out below: No Tvoe of Investment Percenta!!e Not less than (i) Government Securities 20%of Investment Assets Not less than 30%of (ii) Government Securities or Other Approved Securities Investment Assets (incl (i) above) (iii) Investments as specified in Section 27B of Insurance Act, 1938 and Schedule II subject to Exposure I Prudential Norms specified in Regulation 5: a. Approved Investments and Other Investments Not exceeding (Out of '(iii!a' 'Other investment' specified under 27B(3) 55% ['11'1 m-= 4 J No Tvoe of Investment Percental!'e of the Act, shall not exceed 25% of Investment Assets) b. Housing and loans to State Government for housing and fire fighting equipment, by way of subscription or Not less than purchase of 5% I. Bonds I debentures of HUDCO and National Housing Bank 2. Bonds I debentures of Housing Finance Companies either duly accredited by National Housing Banks, for house building activities, or duly guaranteed by Government or carrying current rating of not less than 'AA' by a credit rating agency registered under SEBI (Credit Rating Agencies) Regulations, I 999 3. Asset Backed Securities with underlying housing loans, satisfying the norms specified in the guidelines issued under these regulations. c. Investment in Infrastructure: (Explanation: Subscription or purchase of Bonds I Debentures, Equity and Asset Backed Securities with underlying infrastructure assets would qualify for the purpose of this requirement. 'Infrastructure facility' shall have the meaning as given in clause (h) of regulation 2 of Insurance Regulatory and Development Authority (Registration of Indian Insurance Companies) Amendment Regulations, 2008) Not less than 10% (2) Reinsurance Business - Every re-insurer carrying on re-insurance business in India shall invest and at all times keep invested his investment assets in the same manner as set out in sub-regulation (!), until such time, separate regulations in this behalf are formed by the Authority The Notes appended at the end of clause (2) of Regulation 4 of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, shall be substituted for the following:- Note - For the purpose of Regulations 3 and 4: I All investment in assets or instruments, which are capable of being rated as per market practice, shall be made on the basis of credit rating of such assets or instruments. No investment shall be made in instruments, if such instruments are capable of being rated, but are not rated. 2 The rating should be done by a credit rating agency registered under SEBI (Credit Rating Agencies) Regulations 1999. 3 Corporate bonds or debentures rated not less than AA or its equivalent and PI or equivalent ratings for short term bonds, debentures, certificate of deposit and commercial paper, by a 30250!,08-5 33 34 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III~SEC. 4] credit rating agency, registered under SEBI (Credit Rating Agencies) Regulations l 999 would be considered as 'Approved Investments'. 4 The rating of a debt instrument issurd by All India Financial Institutions recognized as such by RBI shall be of 'AA ' or equivalent rating. In case investments of this grade are not available to meet the requirements of the investing insurance company, and Investment Committee of the investing insurance company is fi,lly satisfied abou: the same, then, for the reasons to be recorded in the Investment Committee's minu(es, the 'nvestment Committee may approve investments in instruments carrying current rating of n.}t less than 'A+ · or equivalent as rated by a credit rating agency, registered under SF:Bf (Credit Rating Agencies) Regulations I 999, would be considered as 'Approved Investments'. 5 Approved Investments under points 3 and 4 above, which are downgruded below the minimum rating prescribed should be automatically re-classified under 'Other Investments' category for the purpose of pattern of investment. 6 Investments in equity shares listed on a registered stock exchange should be made in actively traded and liquid instruments viz., equity shares other than those defined as thinly traded as per SEE! Regulations and guidelines goveming mutual funds issued by SEBI fi-om tim< to time. 7 Not less than 75% of debt instruments excluding Government and Other approved Securities - filfld wise, in the case life insurer and Investment Assets in the case 'of general insurer - shall have a rating o/AAA or equivalent rating for long term and PI+ or equivalent for short term instruments. This shall also apply to Unit linked fund(,). 8 Notwithstanding the above, it is emphasised that rating should not replace appropriate risk analysis and management on the part of the Insurer. The Insurer should conduct risk analysis commensurate with the complexity of the product(s) and the materiality of their holding, or could also refrain from such investments. S. Exposure/ Prudential Norms Regulation 5 of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, shall he substituted for the following:- Exposure I Prudential Norms Without prejudice to anything contained in Section 27A and 27B of Insurance Act, /938, every insurer :Jha.ll limit his investment based on the following exposure norms. Exposure norms for Life (including Unit linked business), General Insurance (including re- insurance) husinessfor both Approved Investments as per Insurance Act, J 938, Schedule I and If of these Regulations, and Other Investments as permitted under 27A(2) and 27B(3) of the Insurance Act, 1938: Type of1nvestment Limit for 'investee' Limit for the entire Limit for industry company 'group' of the sector to which investee ( I) investee company company belongs (2) (3) (4) Type of Investment (]) a. Investment in 'equity', preference shares, convertible debentures Limit for 'investee' company (2) 10% of outstanding equity shares (face value) or I 0% of the respective fund in the case of life insurer I investment assets in the case of general insurer (including re- insurer) which ever is lower. Limit for the entire 'group' of the investee company (3) Not more than I 0% of the respective fund in the case of life insurer I investment assets in the case of general insurer (including re-insurer). The above 1-----------+-------------a percentage shall stand at 25% in the h. Investment in debt/loans and any other permitted investments as per Act I Regulation, other than item 'a' above. I 0% of the paid-up share capital, free reserves and debenture I bonds of the investee company or I 0% of respective fund in the case of life znsurer I investment assets in the case of general insurer (including re- insurer) which ever is lower. case of Unit linked funds. Limit for industry sector to which investee company belongs (4) Investment by the insurer in any industrial sector shall not exceed I 0% qf its total investment exposure to the industry sector as a whole. The above percentage shall stand at 2 5% in the case of Unit linked funds. (Classification of industrial sectors shall be done by the insurer on the lines of classification by National Industrial Classification Code for Extra Territorial Organizations and Bodies in India (NIC) or any other system which adopts NIC classification.) The Notes appended al the end of Regulation 5 of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, shall he substituted by thefollowing:- Note: I Investments in equity including preference shares and convertible part of debentures shall not exceed 50% of above exposure norms as mentioned in the above tahle. 2 Investment in immovable property covered under Section 27A ( I) (n) of Insurance Act, 1938 shall not exceed, at the time of investment, 5% of (a) Investment Assets in the case of general insurer and (b) 5% of Investment Assets a/funds relating to life funds, pension and general annuity funds in the case of life insurer. 3 Subject to exposure limits mentioned in the table above, an insurer shall not have investments of more than: (i) 5% in aggregate of its total investments in companies belonging to the promoters' groups, if invested out of Life, Pension and General Annuity funds or General insurance funds and; (ii) 12.5% in aggregate of its total investments in companies belonging lo the promoters' groups, if.invested out of Unit linkedfunds. 35 36 THE GAZETTE OF INDIA: EXTRAORDINARY [PARTIII SEc.4) for the purpose of these regulations 'Group' shall have the same meaning as defined under these Regulations. 4 In the case of Life, Pension and General Annuity business the percentage and General insurance business the 10% of group and industry sector exposure shall be raised upto I 5% with the prior approval of Investment Committee. The Investment Committee should exercise due care keeping in view the possible concentration and other related risks, in the interest of the policyholders. Exposure norms applicable for investments, for which specific circulars I guidelines are issued, shall be guided by such circulars I guidelines. 5 The exposure limit for financial and banking sector shall stand at 25% investment assets for all insurers. 6 Investment in fixed deposit, term deposit and certificate of deposit of a Scheduled Bank shall be made in terms of the provisions of Section 27A (9) and Section 27B (JO) of the Insurance Act 1938. Such investments would not be deemed as exposure to banking sector. However, investments in such fixed deposit, term deposit and certificate of deposit in a bank falling under the promoter group of the insurer, shall continue to be subject to promoter group exposure norms as per point 3 of Note to this regulatfon. 6. Returns to be submitted by an Insurer Regulation 6 of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, shall be substituted for the following:- 6. Every insurer shall submit to the Authority the following returns within such time, at such intervals and verified/certified in such manner as indicated there against. No Form Description Periodicity Time limit for Verified I of Return submission Certified bv 1 Form I Statement of Quarterly Within 45 days Chief Executive Investment and of the end of Officer I Chief of Income on the Quarter Investments Investment . 2 Form2 Statement of Quarterly Within 45 days Chief Executive Downgraded of the end of Officer I Chief of lnvescme.r.ts the Quarter Investments 3 Form 3A Statement of Quarterly Within 45 days Chief Executive (Part A, B, Investments (Life of the end of Officer I Chief of C) Insurers)- the Quarter Investments Compliance Report 4 Form 3B Statement of Quarterly Within 45 days Chief Executive Investments of the end of Officer I Chief of (General Insurer) the Quarter Investments - Compliance Report [ 'lT'T III-1F5 4 l No Form Description Periodicity Time limit for Verified I of Return submission Certified bv 5 Form4 Exposure and Quarterly Within 45 days Chief Executive other norms - of the end of Officer, Chief of quarterly the Quarter Investments and compliance Chief of Finance certificate. 6 Form 4A Statement of Quarterly Within 45 days Chief Executive (Part A, B, Investment of the end of Officer I Chief of CJ Subject to the Quarter Investments Exposure Norms -Investee Company 7 Form5 Statement of Quarterly Within 45 days Chief Executive Investment of the end of Officer I Chief of Reconciliation the Quarter Investments 8 Form 5A Statement of Quarterly Within 45 days Chief Executive Mutual Fund of the end of Officer I Chief of Investments the Quarter Investments 9 Form 6 Certificate under Quarterly Within 45 days Chief Executive sections 28 (2A), of the end of Officer, Chief of 28 (2B) and 28B the Quarter Investments (3) of the Insurance Act, 1938 JO Form 7 Confirmation of Quarterly Within 45 days Chief Executive Investment of the end of Officer I Chief of Portfolio Details the Quarter Investments II Form 7A Statement of Non Quarterly Within 45 days Chief Executive Performing of the end of Officer I Chief of Assets the Quarter Investments Note: All returns for the quarter ending March shall be filed within the period stipulated above based on provisional figures and later re-submitted with Audited figures within I 5 days of adoption of accounts by the Board of Directors. 7. Constitution oflnvestment Committee Regulation 9 of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, shall be substituted for the following:- Organizational structure for Investment Management 37 38 THE GAZETTE OF INDIA: EXTRAORDINARY [PARTlll SEc.4] I Every insurer shall constitute an Investment Committee which shall consist of a minimum of two non-executive directors of the Insurer, the Chief Executive Officer, Chief of Finance, Chief of Investment division, and wherever an appointed actuary is employed, the Appointed Actuary. The decisions taken by the Investment Committee shall be recorded and be open to impection by the officers of the Authority. 2 Eve,y Insurer shall draw up, annually an Investment Policy (fund.wise investment policy in the case of unit linked inswance business) and place the same before its Board of Directors ji,r its approval. While framing such policy, the Board shall ensure compliance with the following: (i) Issues relating to liquidity, prudential norms, exposure limits, stop loss limits including securities trading, management of all investment risk,, management of assets liabilities, scope of internal or concurrent audit of investments and investment statistics and all other internal controls of investment operations, the provisions of the Insurance Act, I 938 and Insurance Regulatory and Development Authority (Investment) Regulations. 2000, guidelines and circulars made there under. (ii) Ensuring adequate return on policyholders and shareholders funds consistent with the protection, safety and liquidity of such fund(s). (iii) 711c funds of the insurer shall be invested and continued to be invested in equity shares, equity related instruments and debt instruments rated as per Note below Regulation 3 and 4 by a credit rating agency, registered under SEBI (Credit Rating Agencies) Regulations, '/999. The Board shall lay down clear norms for investing in 'Other Investments' as ,1pecified under section 27A(2) and 27B(3) of the Insurance Act, 1938 by the investment committee, taking into account the safety and liquidity of the policyholders 'funds and protection of their interest. 3 The investment policy as approved by the Board shall be implemented by the investment committee, which shall keep the Board informed on a quarterly basis about its activities and fimd(,) performance 4 The Board shall review the investment policy and its implementation on a half yearly basis or at such short intervals as it may decide and make such modification to the investment policy as is necessary to bring it in line with the investment provisions laid doivn in the Act and Regulations made there under, 1ceeping in mind protection of policyholders' interest and pattern of investment laid down in these regulations Or in terms of the agreement entered into with the policyholders in the case of unit linked insurance business. 5 Tiu; details of the IP or its review as periodically decided by the Board shall be made ava{/able to the internal or concurrent Auditor. The auditor shall comment on such review and its impact on the inves__tment operations, systems and processes in their report to be placed before the Board Audit Committee. 6 In order to ensure proper internal control of investment functions and operations the insurer shall clearly segregate the functions and operations of front, mid and back office. 7 The Authority may call for further information from time to time from the insurer as it deems necesswy and in the interest of policyholders and issue such directions to the insurers as it thinks fit. ['WT m-= 4 l 8. Dealing in Financial Derivatives Clause (2) of Regulation 11 of the Insurance Regulatory and Development Authority '(Investment) Regulations, 2000, shall be substituted for the following:-. Any margin or unamortized premium paid by any insurer in connection with the financial derivatives to the extent they are reflected as asset position in the balance sheet of the insurer in accordance with the guidelines issued by the Authority, shall be treated as 'Approved Investment' under schedule I and schedule ff to these Regulations, only to the extent the derivative position constitutes a hedge for the underlying investment or portfolio which itself is treated as an approved investments under these regulations. All other margins or unamortized premium paid, to the extent reflected in the balance sheet of the insurer in accordance with the guidelines issued by the Authority in this regard from time to time, shall be treated as 'Other Investments'. 9. Schedule I Schedule I of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000 shall be substituted with the following:- Schedule I (See Regulation 3) List of Approved Investments for Life Business 'Approved Investments 'for the purposes of section 27A of the Act shall consist of the following: a) all investments specified in section 27A of the Act except (i) clause (b) of sub-section (I) of section 27A of the Act; (ii) first mortgages on immovable property situated in another country as stated in clause (m) of sub-section (I) of section 27A of the Act; (iii)immovable property situated in another country as stated in clause (n) of sub-section (I) of sect ion 2 7 A of the Act. b) In addition the following investments shall be deemed as approved investments by the Authority under the powers vested in it vide clause(,) of sub-section (I) of section 27A of the Act. (i) All loans secured as required under Insurance Act, I 938, secured-debentures, secured bonds and other debt instruments rated as per Note appended to Regulation 3 and 4. Equity shares and preference shares and debt instruments issued by all India Financial Institutions recognized as such by Reserve Bank of India - investments shall be made in terms of investment policy guidelines, benchmarks and exposure norms, limits approved by the Board of Directors of the insurer. (ii) Bonds or debentures issued by companies rated not less than AA or its equivalent and PI or equivalent ratings for short term bonds, debentures, certificate of deposits and commercial papers by a credit rating agency, registered under SEBI (Credit Rating Agencies) Regulations 1999 would be considered as 'Approved Investments'. 39 THE GAZETTE OF INDIA: EXTRAORDINARY (iii) Subject to norms and limits approved by the Board of Directors of the insurers deposits (including fixed deposits as per section 27A (9) of Insurance Act, 1938) with banks (e.g. in current account, call deposits, notice deposits, certificate of deposits etc.) included for the time being in the Second Schedule to Reserve Bank of India Act, 1934 (2 of 1934) and deposits with primary dealers duly recognized by Reserve Bank of India as such. (iv) Collateralized Borrowing and Lending Obligations (CBLO) created by the Clearing Corporation of India Ltd and recognized by the Reserve Bank of India and exposure to Gilt, G Sec and liquid mutual fund forming part of Approved Investments as per Mutual Fund Guidelines issued under these regulations and money market instrument I investment. (v) Asset Backed Securities with underlying Housing loans or having infrastructure assets as underlying as defined under 'infrastructure facility· in clause (h) of regulation 2 of Insurance Regulatory and Development Authority (Registration of Indian Insurance Companies) Amendment Regulations, 2008. (vi) Commercial papers issued by a company or All India Financial Institution recognized as such by Reserve Bank of India having a credit rating by a credit rating agency registered under SEBI (Credit Rating Agencies) Regulations 1999. (vii)Money Market instruments as defined in Regulation 2(cc) of these Regulation. Explanation - 1. All conditions mentioned in the 'note' appended to Regulation 3 and 4 shall be complied with. 10. Schedule II Schedule II of the Insurance Regulatory and Development Authority (Investment) Regulations, 2000 shall be substituted with the following:- Schedule II (See Regulation 4) List of Approved Investments for General Business 'Approved Investments 'for the purpose of section 27B of the Act shall consist of the following: a) All investments specified in section 27B of the Act except (i) clause (b) of sub-section (1) of section 27A of the Act; (ii) Immovable property situated in another country as stated in clause {n) of sub-section ( 1) of section 27A of the Act; (iii) First mortgages on immovable property situated in another country as stated in clause (i) of sub-section (1) of section 27B of the Act. b) In addition the following investments shall be deemed as approved investments by the Authority under the powers vested in it vide clause (j) of sub-section (1) of section 27B of the Act: t1i ['lJTIIIl-~4] 'l1«r"" <fSl'l3I : 3TT!J>ITTUI (i) All loans secured as per Insurance Act, 1938, secured-debentures, secured bonds and other debt instruments rated as per Note appended to Regulations 3 and 4. Equity shares, preference shares and debt instruments issued by All India Financial Institutions recognized as such by Reserve Bank of India - investments shall be made in terms of investment policy guidelines, benchmarks and exposure norms, limits approved by the Board of Directors of the insurer. (ii) Bonds or debentures i~sued by companies rated not less than AA or its equivalent and P 1 or Equivalent ratings· for short term bonds, debentures, certificate of deposits and commercial papers by a credit rating agency, registered under SEBI (Credit Rating Agencies) Regulations 1999 would be considered as 'Approved Investments'. (iii) Subject to norms and limits approved by the Board of Directors of the insurers deposits (includingfzxed deposits as per section 27B (10) of Insurance Act, 1938) with banks (e.g. in current account, call deposits, notice deposits, certificate of deposits etc.) included for the time being in the Second Schedule to Reserve Bank of India Act, 1934 (2 of 1934) and deposits with primary dealers duly recognized by Reserve Bank of India as such. (iv) Collateralized Borrowing & Lending Obligations (CBLO} created by the Clearing Corporation of India Ltd and recognized by the Reserve Bank of India and exposute to Gilt, G Sec and liquid mutual fund forming part of Approved Investments as per Mutual Fund Guidelines issued under these regulations and money market instrument I investment. (v) Asset Backed Securities with underlying Housing loans or having infrastructure assets as underlying as defined under 'infrastructure facility' in clause (h) of regulation 2 of Insurance Regulatory and Development Authority (Registration of Indian Insurance Companies) Amendment Regulations, 2008. (vi) Commercial papers issued by a company or All India Financial Institution recognized as such by Reserve Bank of India having a credit rating by a credit rating agency registered under SEBI (Credit Rating Agencies) Regulations 1999 (vii)Money Market instruments as defined in Regulation 2(c,;;) of this Regulation. Explanation 3025GL08---6 1. All conditions mentioned in the 'note' appended to Regulation 3 and 4 shall be complied with. 41 FORM· 1 Company Name 8: Code: . Statement u on: Name of the Fund Statement of Investment and Income on Investment Periodicity of Submissio.n: Quarterly ~ Cu"•nt Quarto, Year to Date No. Category of Investment Category Income on Net Yield Income on Gross Yield Net Yield Code vestment I Gross Yield Investment 1 (Rs.) nv~~:ent (%)1 (%)' (R,.) Investment (%)' (%)' (R,.) TOTAL CERTIFICATION Certified that the information given herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed. Date: Note: Category of Investment (COi) shall be as per Guidelines 1 To be calculated based on Monthly or lesser frequency Weighted Agerage' of Investments 2 Yield netted for Tax 3 FORM· 1 shall be prepared in respect of each fund. I Previous Year ' Income on Gross Yield Investment (R,.) Investment (%)' (R,.) Signature Full Name & Designation Rs. Lakhs Net Yield (%)' ,ei ~ I l;l i I El ,.. ~ w ; -=" FORM- 2 Company Name & Code: Statement as on: Statement of Down Graded Investments Periodktty of Submtssfon: Quarterly I Name of Fund Date of ! Date of No Name of the Security COi Amount Purchase Rating Agency Original Grade Current Grade Downgrade A. During_ the Quarter 1 B. As on Date : i -.EIITIFICA TION_ Certified that the information given herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed. Date: Note: Pro0de details of Down Graded Investments during the Quarter. Signature Full Name and Designation 2 Investments currently upgraded, listed as Down Graded during earUer Quarter shall be deleted from the Cumulative Usting. 3 FORM-2 shall be prepared in respect of each fund. 4 Category of Invest met (COi) shall be as per INVIGLN/00112003-04 ~ j Rs. Lak.hs I I i .. ~ Remarks ffi ~ j I cl 44 Tiffi GAZETTE OF INDIA: EXTRAORDINARY FORM- 3A Company tume 6: Code: St..~•m.nt as on: Statement of lnVfltm.-.t Assets (Life Insurers) (lusinftl within lndl1) Pertodklty of Submission: Qµerterly Total Appllcatlon as per Balanc;, Sheet {A) Add (B) Provisions Current llabittttes Less (CJ Debit Balance in P& L Ale 1.oan, Adv&. Other ~5 Cash & Bank Bfit;,nc:e Fixed Assets Mt$C Exp. Not Written Off Funds ,1v11labltt fOf' Investments NON • LINKED BUSINESS A. LIFE FUND TOTAL LIFE FUND Sch-14 Sch-13 Sch-09 Sch-12 Sch-11 Sch-10 Sch-15 "11 per ... 8. PENSION AND GENERAL ANNUITY FUND ------T 1 !c.. Sec --1 :c..sec or Other Approved Securities (incl (i) above) -1 ---- --- ---- !Balance in Approved investment TOTAL PENSION, GENERAL ANNUITY FUND PART-A 0 Reconcltlatlon of lnVHtm..,t An.ts Total lnVfltment Ass.ts (11 per Bat.nee Sh..t) Balance Sh"t Value of: A. Ltfe Fund 0 8. Pentlon & Gen Annuity Fund C. Untt Linked Funds 0 ~ SH Be.lf,nce FRSM + UL-Non Untt Res PH PAR HON PAR Book Value (SH+PH) -- ---- --+--+··--+-----l -- --·~·i= PH "as per Rel ----f NON - PAR / PAR Not Less than 2!R Not Less than 400\ Not Uceeding 6m 1()0" t-- 1-- ,. [PARrIIJ SEC.4] Rs. Laktts 0 0 I j -==================-==-=-- 1 C. LINKED FUNDS - , --r -- -~ "1 -- H - I NON Total Fun Actual~ "as per Re-g PAR I PAR I I 1- ·T -------~---·---- ---- +------- -I-- ---1 1 1 l~Jtnoestmcnt Notlessthan751 I I ' ,-- .,.. -----------+- --t----1 1--·-·--+·-·I, l 2 !~-~~-----·-------------.!..-~--'-'-'-"°-'-'-'-"-'"-"-'---~--~---~---~ I __ ~ TOTAL LINKED INSURANC[ FUND 11)()% CERTlrlCATlOH: Certified that the tnfonnatJon flvet'I here in are correct and complete to the best of my knowledge and belief and nothing has been concealed 01' suppres5ed. Date: Notit: (•J FRMS ref,rs to 'Funds reprrsentltlj SoMncy Marfin' Pattitm of lnvntmt'nt wllf apply only to Shar•hofdt'rs (SH) furnJs rt"pr~•ntln'J FRSM (T} Furtds twyond Sofvt'ncy Ma(Jin shall havt a seporatt Custody Account. Other /nwJtm,nc,-' ort as ptrmftttd undtr Secctian 27A(2} and 27B(J) of Insurance Ace, 1938 Sl1n ■ture: Full name: Dest1n ■tton: 'l!Rll"fil-: amruRUI 45 FORM3A Unit Linked Insurance l~fneu Company Name & Code: PART- B Pertodlcty of Stbmtuion: Quarterly Statement as on: Link to Item ·c of FORM 3A (Part A) t PARTICULARS Fund 1 I Fund 2 ._r ___ ,_u_nd_'n_· ___ _ Par/ Non-Par Total of All Funds Opening Balarice (Market Value) j ----------- ---+-------t---------'---- ------'-- ;Add: Inflow during th€! Quarter______ . --t------- ____ I __ 1___ _ ___ Increase I (Decrease) Value of lnv_(_N_•_<J_-t------ __j_l ---·---------+---------- 1 Less: Outflow durins the Quarter i TOTAL INVESTIILE FUNDS (MKT VALUE) - - Fund 1-•s----r-- Fund 2 Fu INVESTMENT OF UNIT FUND ~ ------ I nd 'n' Total of All Funds Actual Inv. ; "Actual I Actual Inv. "Actual : Actual Inv. ' "Actual Actual Inv. : 'Ii. Actual lnVfltme-nts (>=75") . Bond< Co rporate Bonds ------- rastructure Bonds -- i Eq ulty 1- - I Mo ney Market I ----- Mutual funds ~posit with Banks ' - -- ---- - -- --- I ----- -- I ~- 1- ------+-- - ---- _j__ __ - Sub Total (A) Current Assets: -~-------------------------- Accrued Interest Dividend Reclevable Bank Balance Receivable for Sale of Investments -------+--- l ____ o_:~~~-~:~~~t ~~ts __ f~~l• __ ..,_,m_•_•_ts_J ____ _,_ !f Less: ~~~~~~ ~~~~~ Payable for Investments Fund Mgmt Charges Payable Other Cummt Liabilities (for Investments) Sub Total (B) -t-------,.--1 -1--- - . +-----+ -------~- ' i -1------- -i I -------t--·-- - ' __ ____i_ __ _ --+---- -----\ I I Oth~-!~~t~~~t~ ~~25%~ -~--~---~--~---~-----~------ I Corporate Bonds __ .. ____ _ i Infrastructure Bonds Equity Jilonry Morket Mutual funds Sub Total (C) I I -~--------------------~---- Date: No~: To ta I (A+ B + C)================================= Fund Carried Forward (as per LB 2)==================================== Signature Designation 1. The aggregate of all the above ~n,gated Unit-Funds should tally with Item C of FORM JA (Part A), far both Par & Non Par Business 2. Details of Item Ii of FORM LB 2 of /RDA (Acturial Report) R~ulation, 2000 shall be reconciled with FORM JA (Part 8) J. Other /nvestment.s' are as- permitted under Sec 27A(2) and 278(3) FORM - 3A Company Name & Code: Statement for the period: Link to FORM 3A (Part B) Periodicity of Submission: Quarterly No ----,- ------- --, Assets Held NAY as on NA y Name of the Scheme I on the above I the above LBa~per date date , Previous Qtr NAY I~'"""' • +- 2__ Fund_2_ _ - --1- ~-·~ I - ~ 3 Fund n I - ----------< 1 Total - -- -~-- CERTIFICATION PART -C 2nd Previo:~-,3~d--;,:vious I - ~nnualised ! 3 Year I Qtr NAY I Qtr NAY ' Return/Yield ! Rolling CAGR , >-- +--- -+- ------1 ' ' ' I -- . -~-- -7- ~ ----~ Certified that the information given herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed. DATE: Signature Full Name & Designation e,: ~ I ~ I ~ ; i 0 cc: ['ll'TIII-'-""4] '11«1 q;r=: amt>lR"I FOMII • JB C(1npany Mani• & Code: Stat.....nt a1 on: Ste.t•m•nt of lnve1tment Auets (General ln•ww, Re•lnsurotn) (Busimtss witllln India) P•rlod1c1ty of 5ubmlnlon; Quarterly ,o PARTICULARS SCH AMOUNT 1 1 lnYeStments --+-------j 2 _ ;Loan~ fixed Assets 4 !Current Anllt:• I -;_·c-;5h& Dank Ba.l-anc-,---- 1 ------- 1 b. Advances & Other Assets 1---- - ---- ' Current Llabtlftles a. Current Liabilities b. Provisions +- _c_:_ Misc. Ex;,_ '."'°~ritten 51!! __ d. Det>it Balance of P&L Ale " " ------+--" -- " ------+------t---- " ------+ " j- Application of Fund1 as per flalanc• Sh- (A) I Less: Othff An_~~• 1 _ 1 I Loans (ifaRy) _ ! _ 'filled Assets (tf any) J ,Cash & Bank Balance (if any) ◄ A-~ances & oth~;Assets (lf-ao-,-,------- -- ------ 5 I current liab!lltl_~ ___ _ 6 iProvisi~s --------- 7 ;Misc. Exp not Written Off 8 iDPbitllalarn:eofP&LA/c ------- 0 TOTAL (B) ____ o_ 'lnve,tment Asseh' A• p..- FO!I.M lB (A•B) 0 No I 'Investment' r111)f'esented as --------------,.-- -----t--- -~)_ i Not less than , 'G. Sec i-- 2 jG. Sec or Other Appolved Sec. (incl. ti) above) I- - ---------------- 3 ! lnvestmerot subject to Exposure Norms I,. ·Housing r;L~~s to SG for Housin11 and m, Infrastructure Investments ""' Not tess than "' Not less than "' '" Book Value (SH + PH) I -,,-, ---,-. -(b+c) 7 1---T I -- ' -+-- ----+----------1 ,1. Approved Investments -1- Not j " --------------- exceedlr>& C-------+----+---•-+------ Rs. In Lok/u "" Total • Amount ""'" Actual r,.,- - Value (d + el ' 1 -- I I i l. Other Invest menu (not exceeding 25%) 55% I ~---+--------~---~---~---+----------- 1 Certification: Certified rhot the information !liv,m herein are carr«:t and comp/ere to the best of my l<.nowllm!fe and belief and nathlny l>a> been concealed or svppre/lsed, Date: Note (•) FRMS refers Tunds represmtlny Solvency Mar!fln' ("} Patt em of Investment will apply only to SH funds represenfl"!l FRMS ( • / Book Value shall nat ln,;/ude funds beyond Sa/vency Mars-in Other Investments· are as permitted und« Sec 27A(l} and 278(J) Stp,ature: Full name: Dest...,atton: FORM 4. EXPOSURE AND OTHER NORMS - QUARTERLY COMPLIANCE CERTIFICATE Company Name and Code: Date: as at: ............... . No Norms applicable for Exposure./ Other Norms as per Regulation ...,_ I I Investee Company I a. Investment in equity, preference shares, convertible Exposure. debenture:- II 1. Exposure at any point of time not exceeded 10% of outstanding equity shares (face value) or 10% of the respective fund in the case of life insurer / investment assets in the case of general insurer (including re- insurer) which ever is lower. b. Investment in debt / loans and any other permitted Investments as per Act / Regulation, other than item 'a' above:- 1. Exposure at any point of time not exceeded 10% of the paid-up share capital, free reserves and debenture / bonds of the investee company or 10% of respective fund in the case of life insurer / investment assets in the case of general insurer (including re-insurer) which ever is lower. · 2. Subject to exposure limits as per Insurance Act, 1938, investment in equity and debt taken together had not exceeded 10% of.the respective fund size in the case of life insurer or investment assets in the case of general Insurer (including re-insurer). I Group of the I a. Exposure at any point of time not exceeded 10% of the respective fund in the case of life insurer / investment assets in the case of general insurer (including re-insurer) and 25% in the case of Unit linked business. Investee Company (Ref. Reg. Z(ca) of IRDA (Inv) Reg, 20001 . Are the required Norms complied? (Yes I No) ~ Remarks ~ I ~ I I '"'o ~ r ~ ... I No Ill Norms applicable for Industry sector to which the investee company belongs IV I Others Exposure / Other Norms as per Reip.1lation 1. Whether any additional exposure not exceeding 5% of respective fund, other than Unit linked funds, in the case of life insurer I investment assets in the case of general insurer (including re-insurer) had been taken? If so, has the 'prior approval' of Investment Committee had been obtained? b. Subject to exposure limits mentioned in the Regulations, had the Insurer invested more than 5% (12.5% in the case of Unit linked business) 'in aggregate' of. its total investments in companies belonging to the promoters' groups. (For the purpose of this regulation 'Group' shall have the same meaning as defined under these Regulations). a. Investment by the insurer in any industrial sector had not exceeded 10% of its total investment exposure to industry sector as a whole? b. Has the insurer, in the easer of Unit linked business, had invested in any industrial sector, not exceeded 25% of its total investment exposure to industry sector as a whole? c. Is the classification of industrial sectors been done on the lines of classification of industries done by NIC (National Industrial Classification Code for Extra Territorial Organizations and Bodies in India) or any · other system which adopts NIC classification, consistently from period to period? a. Has the Insurer fully complied with Regulation 9(6) of IRDA (Investment) (4th Amendment) Regulation, 2008 and point A.1.e of Annexure Ill to Circular INV /CIR/008/2008-09? b. Has the Insurer implemented the requirements of guidelines applicable for dealing employees, as required under point A.2.a of Annexure Ill to Circular - Are the required Norms complied? (Yes/ Nol Remarks ~ ~ ; ... ~ ! ~ j I l1s Ho I Norms applicable for Exposure/ Other Norms as per Regulation INV/CIR/008/2008-09? c. Has any investment been done in contravention of Section 27C of Insurance Act, 1938? d. Are /NJfwey Market Investments classified as per Regulation 2{cc) of IRDA (Investment) Regulations, 2000? e. Do investments of One Year Renewable Group Term Assurance Business {OYRGTA) follow the pattern of Life Business? f. Has any investment been made in contravention of point 1 of note for the purpose of Regulations 3 and 4 of IRDA (Investment) {4th Amendment) Regulation, 2008? g. Have all investments, downgraded as mentioned under point 5 of note under Regulations 3 and 4, have been re- classified under 'Other Investments' through the system? h. Was debt investments under 'Approved Investments' based on rating criteria, at any point of time, under any class of business, for both life and general insurer (including re-reinsure) fallen below the minimum percentage as required under point 7 of note under Regulations 3 and 4?. i. Has the Insurer complied with the requirements under Regulation 8 of IRDA (Investment) Regulations, 2000 j. Has the insurer's Investment Policy (fund wise in the case of Unit linked business) has been approved by the Insurer's Board and has addressed · all issues required u,:ider. IRDA {Investment) Regulations, 2000? Also, has the investment policy been periodically reviewed? k. Has. the . perform~nce of investments (including Unit linked fundfs1) been p_laced before the Board on a Are the required Norms complied? {Yes/ Nol Remarks ~ ~ I ~ I I ? ; i.;!; No •• Norms applicable for Exposure I Other Norms as per Regulation quarterly basis? I. In the case of a life insurer, each individual fund, both under shareholder / policyholder funds, falling under any class of business, have identified 'scrips', representing. the assets of each fund, to comply with the provisions of · Section 11 (1 B) of Insurance Act, 1938? m. Have the purchase and sale of Jnvestments, under any class of business, in the case of Life Insurer, in respect of each fund, (including Unit linked fund(s)) been made out 9Lthe (espective fund? n. Has inter fund transfer, in the case of a life insurer, been done as per circular IRDA·FA-02-10-2003-04? o. Have the Assets been identified, for each segregated fund of Unit linked business, as. per file &. use procedure approved by IRDA? p. Has the insurer, in the case of Unit linked business, invested the assets, fund wise, as per pattern of investment approved by IRDA? q. Has the insurer, under shareholders funds, clearly split funds representing solvency margin (FRSM) in FORM 3A (Part A) / FORM 3B? r. Has shareholders funds, beyond solvency margin, have a separate custodian account and identified scrips for both life and general (including re-insurance) companies and reconciled with FORM 3A (Part A) and FORM 3B? s. Has the insurer conducted internal or concurrent audit for the reporting quarter and have implemented the board audit committee recommendations of the previous quarter as required under Point E.a of Annexure Ill to Circular· INV/CIR/008/2008-09? Are the required Norms complied? (Yes/ No) Remarks I ~ 1 ; ,. ~ ! ~ I I ~ I No Norms applicable for Exposure / Other Norms as per Regulation t. Has the Insurer complied fully with tile directions of circular: IRDA/CIR/INV /062/ JAN/OS dated 17th Jan, 2005? u. Has the insurer, having not less than Rs. 500 Cr assets under management (AUM) complied with Point 11 and 12 of Annexure II to Circular - INV /CIR/008/2008-09 with respect to outsourcing of investment advice, NAV calculations? v. Has the insurer, in the case of life business, reconciled investment accounts, fund-wise, with bank and custodian records on 'day-to-day basis for all types of products? w. Has the Insurer, in respect .of Unit linked products, reconciled the units with 'policy admin systems', on a day-to-day basis? x. Has the insurer, in the case of general (including re- insurance) business, reconciled investment accounts with Bank and Custodian records on a day-to-day basis? y. Has the Insurer's investment in mutual fund complied with guidelines INV /GLN/004/2003-04 at all times during the quarter? Are the required Norms complied? (Yes/ No) Remarks Certified that the information given herein are correct and complete to the best of my knowledge and belief and nothing has been l'3 ~ Cl ~ ~ ~ ;;;: i ~ concealed or suppressed. I rt ... Signature: .. Chief Executive Officer Signature:. ____________ _ Chief lnvetme.rt Officer Signature:--------------------. Chief Financial Officer : ~ Date: FORM- 4A ' 10% of Outstandilig Whether Sh (FY) I 10% of 10%ofFund No Investee Company Equity I (Sh.Cap +FR +Deb Size I Total Debt? /Bonds) of Investee tnvestrrents Company a : b C d e I ' : ', ' ' ! ' L. I - Note: 1. Fund Size shall be as per FORM 3A (Part A) / FORM 3B 2. Above table shall be prepared Individually for all ULIP Funds 3. Only (-ve) deviations are to be reported CERTIFICATION Certified that the information given herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed. Date: (Part A) ~ IS 1i I ~ least of Col Investee Actual Deviation =" Col Company (Eq + Deviation = Col (d) or (e) Investment (f) - Cot (g)l Debt) (e) - Col (i) j ~ f g h i j I - I Signature: Full name: Designation: 1: i::J i FORM - 4A Company Name a Code Statement as on: Group Company Exposure Statement Periodicity of Submission: Quarterly No Name of the Group Promoter/ Non-Promoter : I -I---- Group --- :------- Note: 1. Total Investments as per FORM 3A (Part A) /FORM 3B CERJIFICA TION Certified that the information given herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed. 0 Fund Size: Total Investments suject to Exposure Norms • ' ----1------ Signature (Part B) Rs. In Lakhs % of Total Investments -------- Date: Full Name & Designation 'C ~ I Sil z ~ i ~ ';;J E f 0 ~ FORM-4A Company Name & Code Statement as on: Industry Sector Exposure Statement Periodicity of Submission: Quarterly Lf~ '··-~i--- : Note: Industry Sector (as per Regulations) Total Investment as per Form 3A / 38 CERTIFICATION ~ Fund Size: Total Investments suject to * Exposure Norms 0 Certified that the information given herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed. Date: Signature Full Name & Designation (Part C) Rs. In Lakhs % of Total Investments ~ ~ T ! .... ~ ~ ~ I ~ ~ ~ FORM- 5 Company Name & Code: Statement as on: Statement of II 1¥esb■NSlt Reconciliatian (Busines.s within India] Periodicity of Slbrnission : Quarterly lj: Name of the Fund: Rs. ln-Lakhs No c.<apyof- cm Operrin! Billano:e Pur. fol'" tM Period Mies fOf the Period Adjustments Clcsin!I B.llance f-----~---+---~----f----~----+---~----+----~---~------,"toTotillj: I.bl,._. \ITLT~/ i! -Kr•t V•lue f~ Villue I Book Villue I he• V•lue I Book Villue I hce Yilill.H! I Book V;ilue ! hce Value I Book Villue I face Value I Book V•lue G.s« l jG. SecOf Otnff Appn,w!dSec/Gumml:ft'd s« lnvnrn-.ts svbj-r ta Expmure Honm (aJ ~&locnsti:tStl,ft'GMt-HousiTJlfff (bJ lnfrt1StnlctJIR~ (CJ A,ppmwd~ (dJOU--~ TOTAL CERTIRCA. TIOH I I I I I I I I I I I I I I_ I I I - I I j Certtflftl ti.at tff 1■■,u.111U1b1 -sfve11 herril en' con-ect ,;nd complete to the best of my bxlwledsr ,;nd belief m,d nothifl! has bttn conceal rd or suppressed. Also, certlfittl that all cash Marter tn-■sactions u«Utrd on the Stock fJt:chansr are moM only on Odlvery basis. 0.te: HOTE 1. Individual Catqorla undEr each of thr tb1ve Major heads Jhould be listed.with CateJOIY Codf! 2. FORM-5 shall be preparrd in respect of fllCh fund. J. Each .sub-total af FORM-S shal.l be llnl.ed to Its w1espoudit,s l1f!Od in PAKT·A of FDRM·JA I FORM-Jll . ,f_ 'Othff" lmlrstrnfflts" ar-e m permlttrd under s« l7A(2J a>d Z7B(3J S. Guidel#Ms 01, p, e,:o u(b1 "1 FORM S should M strictly followitd. I I I Signature Full Mame & Designation . "-l gj Cl I I I Ill~ 0 .,, II~ > ~ II~ ~ z II~ -< '"ii ~ ; ,_;,, 1·:, ·;:_: .•·· .. :;,~ "GFM · Company r~a:r,e tt Code: State;,ient a~ on Namf, of !he Fund: Statcme:,t of Mutc.;~I Fund lnve,tnient, R.1. 111 Lakh;s Periodicity of Submission : Quarterh Op Bal<irice PARTICULARS I- --- COi U;iit$ Amount Pure.hast, for the Qtr s~les for the Qt.r Cl Balance I · Unit~ Amount Uniu j ~-r:,-~: ;;-~~~-~-- ti nits -8~~ V~;~~-1Market Value I % t:r,:~t.il ------ ---+-- -i- -~1~ ~-- i ~prov~~-1nvestm0•_"'_' __ _ 1MF · Gilt / G Sec I !.1qu1d Schemes EGMF I I t. MF• (under l11sure(s Promoter Group) '-------· l ~-I __ t ""' i---- i - I ~her lnvertments r~ :-□f'bt /Income/ Sem(J Ll~Uld~n_ds- ; OMGS l ' ----- ' . . ----- -·- I - ' I PG I ,MF• (under Insurer's Promoter Group) OMP £fRTIF]CA T!Ol-j ~-i- i I =+ _ __l__ I +--- ---+---- ____ I __ _ ol i ] I I -- --~ --- I 0 I 0 ~- - __j -r-·=t= '! . - . --· •.• ~ .~---- ' ·---~· --l--- -·-- ---- --• 0 0 ! I ··-· ---1- ,I i °' ' T . t· -----j------~---- -- - J oj Tota: (Al i ·r 0 Total {BJ o' j -< - . ·-· L ___ ·----.J. I .. ·,--··,:·; _- ___ - Total (A+B) I ·- __ ,_ - .. ··-- -... -_ ·----,-- ' 0 Total (C) ----_ ol •- ' ' ---- 0 Total {Di :.::.,:·:·,;':') ,;•,,:'",· --: Total (C+O) -,-, ·-,,:_, _,-.. _ -----• - __ Total (A+B+C+D) - _, ' ,_ -- 'j l L ____ --~--: -- 0 " .o- --__ ·> 6 .. 0 0 j) · .. _, .. _;;_·;,:, = Certified that thl;' fnfonnation given hl;'rein are correct and complete to the best of my Ir.now/edge and belief ond nothing has bee,; concealed or suppressed. Date: NOTE FORM- 5A ~hall be prepared rn respect cf each fund Each S!.ib total of FORM-SA ah.iii be linked to lt5 corrt!:sponding head m FO~t.<-5 Cth,:r .r~vf'Hments' ~·re as 1,,erm.'tted unda Ser. Z7A/2j ond 278/}) c:ufc:,·!r.~I"> on rr~,-,~.--~t,~n ~f FC'Rl,1 ~ si,,?c·!d be ~trict1y fofl~weo SIGNATURE FULL NAME&. DESIGt'-<ATION I~ [.-::: ~ ,';i ~ ~ :!II ~ I :3 ,ORM· 6 Company Name ft Code: Statement as on: Certificate under Section 28(2A) / 28(28) / 288(3) of The Insurance Act, 1938 Periodicity of Submission : Quarterly No Investment Particulars , ___ _ Bank (Rs) i i~~ Share Holders Policy Holders ' 1 :G. Sec ~-- - -- 2 · G. Sec or Other Approved Securities Name of the Fund: Rs. In Lakhs Under the Custody of 3 I Investment subject to Exposure Norms ' ' ' I L __ la: ._Housing & Loans to State Govt. for Housing & FFE _ __) __ _ ___ , ___ --- -------~ -- -~---"- -1 ! lb. Infrastructure Investments r ---,---- :c. Approved Investments I I_ __ jd. Other Investments -r- _ __ -----i-- ! j--- ' I --···--1 --- ! --! TOTAL================~========================= We certify that the above mentioned securities are held free of any encumbrance, charge, hypothecation, or lien as on the above date. CHAIRMAN CHIEF EXECUTIVE OFFICER Note: 1. Custodian should certify that he is not disqualified under SEBI (Mutual Fund) Regulations, 1996 as amended from time to time. 2 .. Value of the Securities shall be as per Guidelines 3. In the case of Life Insurance Business, FORM-6 shall be preparea in respect of eoch fund. 4. The values under Certificate :;hould be adjusted for Purchase I Sale of investments purchased and awaiting settlement. A reconciliation to this effect should be attached to the Certificate. DIRECTOR :,:: ~ ~ ~ ~ I I El ~ ;? "i r 0 ±o FORM- 7 Company Name & Code: Statement as on: Confirmation on Investment Portfolio Periodicity of Submission: Quarterly No i_______ __ +---------------- ------ Details of Approved Investments I Other outstanding along with particulars of def a --------- Particulars --- ------- Investments which have matured for payment and maturity amount is ulted amount and period for which said default has continued: ----- - ---------- - 2 I • Any Investment as at (1), which subsequen · to maturity have been rolled over: ------------ ------- itn respect of Investments where periodic income have fallen due, details of interest payment in default, along rsisted: 3 'with period for which such default have p --1------ -- -- - 4 wlted amounts, and the provisioning done I proposed in the accounts Details of steps taken to recover the de against such defaults: ---------- -- Certifjcation Certified that the information given herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed. if Date: Note: If any of the confirmation is in the affirmative, details be provided. Signature Full Name and Designation ~ 1 T i ... ' Confirmation (Yes/ No) ··---- ~ ~ I ----- ; \S "' 5 " ~ ~ ~ SC , " g_ ~ ~JI [-~ i ;:; o: c.. C ' ~· ., - - 0 a- ~[ ;:. &; 2 ~ ~~ 0 ~ " -,;i5 2:()<> 8 S = , C ~ 0 • y, < 0~ 2.~ ~~ ~-§ Oz Co '.C :E 0 e. =r 0 §-: A FORM 7A Company Name & Code Stateme11t ds Oil' Details. of Investment Portfolic Periodicity of Submlssi011 : Quarterl,' COi Comp3ny Name ITBI!fJSH/0~ Instrument ' Type Interest Rate Has. there % been revisi0111 Total 0/s. (Sook Value) I I Name ot the Fund Default : Principa( (Book Value) Oefaulty lnter...st (Book Value) Principal Due from ' ·-1 -----1- Interest Due fr= Oeferred Principi!i Certified that the information given herern nrrc correct and complete ta the best of my 11:now!edge arid belief and nothing has been concealed or supp,·Hsed Date: Nore: A. CoteS'O,Y of /nv,e,stmrct ((01) shall be as per INY!GLN/00112003-(14 B. FORM 7A shaU be 51Jbmitted in respect of each 'fund" C Classification shall be a, per F&A-Cirw/ors-169-Jan-0' Dt. 24-01-0 7 Deferred Interest Rolled Over? Has the.-e been any Principal Wi1ive1' Amount Sig'1ature '°''' Approval Ref Full Mil.me fl 0...signation Classification Provision(%)' Provision (Rs) J. HARINARAYAN. Chaimian f ADVT IIJ/4/J 6 l/2008'Ern.J i 18; ~ ~ ~ 0 )> N m -, --i rr, 0 ~ z 0 ► !:i - ~ "' C :;: ► "' -< i,-'"' I? I:. I- I~ 1.::::