The Insurance Act

Penalty for default in complying with, or act in contravention of this Act

Penalty for carrying on insurance business in contravention of sections 3

Penalty for contravention of sections 27, 27A, 27B, 27D and 27E

Wrongfully obtaining or withholding property

Offences by companies

Penalty for failure to comply with sections 32B, 32C and 32D

Power to adjudicate

Factors to be taken into account by the adjudicating officer

Power of Court to order restoration of property of insurer or compensation in certain    cases

Notice to and hearing of Authority

[Omitted.]

Chairman, etc., to be public servants

Power of Court to grant relief

Cognizance of offences

Appeal to Securities Appellate Tribunal

Delegation of powers and duties of Chairperson of the Authority

Signature of documents

Power to call for information

Certain claims for compensation barred

Provisions applicable to state Governments, etc

Penalty to be recoverable as arrear of land revenue

Service of notices

Declaration of interium bonuses

Acquisition of surrender value by policy

Power of Central Government to make rules

Power of Authority to make regulations

Alteration of forms

Power to exempt from certain requirements

Summary of returns to be published

Saving of provisions of Indian Companies Act, 191

Exemption

Inspection and supply of copies of published prospectus, etc

Determination of market value of securities deposited under this Act

Repealed


MISCELLANEOUS


If any director, managing director, manager
or other officer or employee of an insurer wrongfully obtains possession of any property or wrongfully
applies to any purpose of the Act, he shall be liable to a penalty 1[not exceeding one crore rupees].

LAWGIST

# 105 Wrongfully obtaining or withholding property