Insurance Act, 1938 · Chapter II: Provisions Applicable to Insurers · Management by administrator
Section 52F: Penalty for withholding documents or property from Administrator
If any director or officer of the insurer or any other person fails to deliver to the Administrator any books of account, registers or any other documents, in his custody relating to the business of the insurer the management of which has vested in the Administrator, or retains any property of such insurer he shall be [liable to penalty of rupees ten thousand each day during which such failure continues or rupees ten lakh, whichever is less].]
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 52F
No Supreme Court judgment in our database cites this section yet.