Section 29: Duty to deliver possession of property and documents relating thereto. - (1) Where any property appertaining to an existing insurer has been transferred to and vested in an Indian insurance company under section 5,

Q: What does Section 29 of The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA) deal with?

Section 29 TGIBNA pertains to "Duty to deliver possession of property and documents relating thereto. - (1) Where any property appertaining to an existing insurer has been transferred to and vested in an Indian insurance company under section 5,". It is part of the The General Insurance Business (Nationalisation) Act, 1972, a legislation enacted by the Parliament of India. Section 29 of The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA) governs duty to deliver possession of property and documents relating thereto. - (1) Where any property appertaining to an existing insurer has been transferred to and vested in an Indian insurance company under section 5,. As verified on 19 May 2026.

Q: Is Section 29 TGIBNA still in force?

Yes, Section 29 of the The General Insurance Business (Nationalisation) Act, 1972 is currently in force across the Republic of India.

Q: What is धारा 29 TGIBNA?

धारा 29 TGIBNA is the Devanagari Hindi reference for Section 29 of the The General Insurance Business (Nationalisation) Act, 1972. Section 29 of The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA) governs duty to deliver possession of property and documents relating thereto. - (1) Where any property appertaining to an existing insurer has been transferred to and vested in an Indian insurance company under section 5,. As verified on 19 May 2026.

Q: What is Dhara 29 TGIBNA?

Dhara 29 TGIBNA is the Roman Hindi reference for Section 29 of the The General Insurance Business (Nationalisation) Act, 1972. "Dhara" means "Section" in Hindi. Section 29 of The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA) governs duty to deliver possession of property and documents relating thereto. - (1) Where any property appertaining to an existing insurer has been transferred to and vested in an Indian insurance company under section 5,. As verified on 19 May 2026.

Q: How to cite Section 29 of The General Insurance Business (Nationalisation) Act, 1972?

Cite as: "Section 29, The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA)" in legal briefs. For academic writing, use the BlueBook format: The General Insurance Business (Nationalisation) Act, 1972, § 29 (India).

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every person in whose possession, custody or control any such property may be, shall deliver the property to the Indian insurance company forthwith;

any person who immediately before such vesting has in his possession, custody or control any books, documents or other papers relating to an existing insurer shall be liable to account for the said books, documents and papers to the Indian insurance company, and shall deliver them to that company or to such person as that company may direct.

(2)

In particular, all the assets of an existing insurer appertaining to the undertaking held in deposit by the Reserve Bank of India under the Insurance Act or by trustees in trust shall be delivered to the Indian insurance company.

(3)

Without prejudice to the other provisions contained in this section, it shall be lawful for each Indian insurance company to take all necessary steps for taking possession of all properties which have been transferred to and vested in it under this Act.