Insurance Act, 1938 · Chapter II: Provisions Applicable to Insurers · Special provisions relating to external companies
Section 62: Power of Central Government to impose reciprocal disabilities on non-Indian companies
Where, by the law or practice of any country outside India in which an insurer carrying on insurance business in [India] is constituted, incorporated or domiciled, insurance companies incorporated in [India] are required as a condition of carrying on insurance business in that country to comply with any special requirement whether as to the keeping of deposits or assets in that country or otherwise which is not imposed upon insurers of that country under this Act, the Central Government shall, if satisfied of the existence of such special requirement, by notification in the Official Gazette, direct that the same requirement, or requirements as similar thereto as may be, shall be imposed upon insurers of that country as a condition of carrying on the business of insurance in [India].
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 62
No Supreme Court judgment in our database cites this section yet.