Just like the odds and ends that clutter the backyards of state-run non-life insurance company offices, there is a shell company tucked away within the accounts of one of them.
The presence of such an oddity in the annual report of Oriental Insurance Company for close to 40 years, however, does not surprise analysts. "It has been a long time since anyone took the public sector insurance companies to the cleaners," said one of them.
It could be a first of sorts for capital markets regulator Securities and Exchange Board of India (Sebi) to deal with, since no government-run company has ever come to it to be listed with such an entity riding on its balance sheet.
In Budget 2016-17, Finance Minister Arun Jaitley had announced plans for the listing of the four government-run general insurance companies - New India Assurance, National Insurance, United India Insurance and Oriental.
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