Oriental Insurance Company

The Centre moved the law by which government-owned general insurance companies need not have 51 per cent capital held by the Union. This will allow government to sell larger stakes in National Insurance, the New India Assurance, the Oriental Insurance and the United India Insurance.

It is not open for the Insurance Company to challenge the decision of the District Magistrate and claim that judicial review is open against the decision of the District Review Committee, as the Insurance company was privy to the agreement, the Court observed

The Allahabad High Court on Thursday directed the Oriental Insurance Company to pay Rs 1,62,840 to Tara Devi and others of Ghazipur District of a motor accident insurance claim along with 9% interest.