Ministry of Finance extends the payment date for renewal of motor vehicle third party insurance policies

Apr 02, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Ministry of Finance on April 01, 2020 extends the date for payment for renewal of motor vehicle third party insurance policies.

As there is lockdown of twenty-one days (21) from March 25, 2020 to April 14, 2020 due to outbreak of COVIS-19. Therefore, Ministry of Finance directs that:

The policy holders whose motor vehicle third party insurance policies fall due for renewal during the period on and from March 25, 2020 to April 14, 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19), are allowed to make such payment for renewal of policies to their insurers on or before April 21, 2020 to ensure continuity of the statutory motor vehicle third party insurance cover from the date on which the policy falls due for renewal.

This notification will come into force on the date of its publication.   

[Notification No. S.O. 1237 (E)]


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