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        Income Tax

        LIC Presents a Dividend Cheque of Rupees One Thousand Six Hundred Thirty Four Crore Eighty Nine Lakhs Fifty Seven Thousand and Six Hundred Two (Rs. 1634, 89, 57, 602 ) to the Union Finance Minister

        December 16, 2014

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        Shri S.K. Roy, Chairman, Life Insurance Corporation (LIC) of India presented a dividend cheque of rupees One Thousand Six Hundred Thirty Four Crore Eighty Nine Lakhs Fifty Seven Thousand and Six Hundred Two (Rs.1634, 89, 57, 602.00) to the Union Finance Minister Shri Arun Jaitley in his office yesterday. Shri Rajiv Mehrishi, Finance Secretary, Dr. Hasmukh Adhia, Secretary, Department of Financial Services, Ministry of Finance, Shri Manak, Shri V.K. Sharma and Ms. Usha Sangwan, all Managing Directors, LIC were also present on the occasion among others.

        Dividend payment by Life Insurance Corporation to the government delivered as a formal cheque, marking transfer of company funds. Life Insurance Corporation of India delivered a dividend cheque to the Union Finance Minister, representing the transfer of LIC's declared surplus to the central government as shareholder recipient; the presentation occurred in the Finance Minister's office and was attended by the LIC Chairman and senior managing directors, recording the procedural receipt of the corporate distribution.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Dividend payment by Life Insurance Corporation to the government delivered as a formal cheque, marking transfer of company funds.

                                Life Insurance Corporation of India delivered a dividend cheque to the Union Finance Minister, representing the transfer of LIC's declared surplus to the central government as shareholder recipient; the presentation occurred in the Finance Minister's office and was attended by the LIC Chairman and senior managing directors, recording the procedural receipt of the corporate distribution.


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