New India Assurance approves financials, directors; receives significant tax refund

The New India Assurance Company Limited (NIACL) held its 106th annual general meeting (AGM) on September 24, 2025, via video conferencing. All business items proposed in the notice dated September 2, 2025, were transacted and passed by members with the requisite majority. These included the adoption of audited financial statements for the fiscal year ended March 31, 2025, the declaration of a final dividend for FY 2024-25, and authorization for the board of directors to fix the remuneration of the joint statutory auditors for FY 2025-26.

Key appointments were also confirmed: Smita Srivastava was reappointed as executive director, Nidhu Saxena was appointed as a non-executive director, Kasturi Sengupta as executive director, and Shwetha Rao B as nominee director. Additionally, a secretarial auditor was appointed for FY 2025-26 to FY 2029-2030.

In a separate but related disclosure, NIACL announced that the income tax department issued a refund of Rs. 249.79 crores for assessment year 2009-10, which includes interest of Rs. 8.89 crores. The consolidated voting results and the scrutinizer’s report are available on the company’s website.