'insurance companies, except in so far as the said provisions are inconsistent with the provisions of the Insurance Act, 1938 [4 of 1938] or the Insurance Regulatory and Development Authority Act, 1999 [41 of 1999]'
please interpret...
Insurance companies and banking companies are required to adhere provisions of Companies act,2013 as well as Insurance act,1938 and. Banking Regulation Act 1949 respectively. In case there is conflicting provisions of CA,2013 and Insurance act,1938. or Banking Regulation Act, 1949 and the case may be later will prevail.
There are many provisions like accounts, audit, directors etc. where Insurance companies are required to follow provisions of Insurance act,1938..........
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