Judgment

CHINNAPPA REDDY, J.:- These appeals and transferred cases arise out of problems connected with the integration of services consequent on the nationalisation of general insurance business. The management of the undertakings of all insurers carrying on general insurance business was vested in the Central Government, pending nationalisation, by the General Insurance (Emergency Provisions) Ordinance. The process of nationalisation was completed by the enactment of the General Insurance Business (Nationalisation) Act, 1972, providing for the acquisition and transfer of shares of Indian Insurance Companies and undertakings of other existing insurers. Existing insurer was defined to mean every insurer the management of whose undertaking has vested in the Central Government under S. 3 of the General Insurance (Emergency Provisions) Act, 1971 and included the undertakings of the Life Insurance Corporation in so far as it related to the general insurance business carried on by it. Indian insurance company was defined to mean an existing insurer having a charge capital who is a company within the meaning of the Companies Act. Corporation was defined to mean the General Insurance Corpo