Public sector general insurer New India Assurance on Thursday said it has received a Rs 124.98 crore demand notice from the Income Tax Department. The company received an order on March 19, 2025, from the National Faceless Assessment Centre, Income Tax Department, levying a penalty of Rs 1,24,98,58,050 for disallowance of payment made to auto dealers for the assessment year 2016-17, New India Assurance Company said in a regulatory filing. The amount would be shown as a contingent liability in the financial statements of the company, it said. Based on the merits of the matter, the company would pursue an appeal before the National Faceless Appeal Centre (NFAC) or other legal options against the order, it said.

The New India Assurance Company Ltd. is trading below its 30 day SMA of 187.5

The New India Assurance Company Ltd.

20 Mar 2025

185.75

0.36%

Company Update

The New India Assurance Company Ltd - 540769 - Announcement Under Regulation 30 Of SEBI (LODR), …

BSE India

Th Company has made announcement under Regulation 30 of SEBI (LODR), 2015 related to an order from National Faceless Assessment Centre, Income Tax Department.

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The New India Assurance Company Ltd.

06 Mar 2025

185.75

0.36%

Company Update

The New India Assurance Company Ltd - 540769 - Announcement under Regulation 30 (LODR)-Acquisition

BSE India

Disclosure regarding the investment in Bima Sugam India Federation - Section 8 Company through Private Placement.

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The New India Assurance Company Ltd.

14 Feb 2025

185.75

0.36%

Corp. Note

The New India Assurance Company Ltd - 540769 - Integrated Filing (Financial)

BSE India

PFA the letter w.r.t the captioned subject

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The New India Assurance Company Ltd.

13 Feb 2025

185.75

0.36%

Public sector general insurers post combined profit of Rs 1,066 cr in Q3

Business Standard

Public Sector General Insurance Companies (PSGICs) have achieved financial turnaround in the December quarter, posting a combined profit of Rs 1,066 crore on the back of various reforms by the finance ministry. Public sector general insurance companies (PSGICs), that historically reported losses, witnessed a major turnaround with all of them becoming profitable again, the finance ministry said in a statement on Thursday. While Oriental Insurance Company Ltd (OICL) and National Insurance Company Ltd (NICL) started posting quarterly profits from Q4 of 2023-24 and Q2 of 2024-25, respectively, United India Insurance Company Ltd (UIICL) posted profit in Q3 of 2024-25 after a gap of seven years, it said. Notably, New India Assurance Company Ltd (NIACL) has consistently maintained its position as a market leader and has been making profits regularly, it said. New India Assurance Company recorded nearly 51 per cent drop in net profit to Rs 353 crore for the third quarter of the current...

The New India Assurance Company Ltd. has lost -34.96% in the last 1 Year

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