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Co-Sponsors

SOURCE OF INFORMATION : INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA WEBSITE
PERIOD COVERED : 16-AUG-2002 TO 13-JUL-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

INSURANCE COMPANY: GIVEN IN WRITING TO CENTRAL BANK OF INDIA ABOUT PAYMENT OF RS.10 CRORE FOR PROVIDING INFORMATION ABOUT BANK’S CUSTOMERS ETC.VIOLATING DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED FOR LICENSING OF CORPORATE AGENTS

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CHOLAMANDALAM MS GENERAL INSURANCE CO.LTD.  
  DID NOT TAKE APPROVAL FROM IRDA BEFORE ENTERING INTO CORPORATE AGENCY AGREEMENT WITH ANOTHER INSURER

GIVEN IN WRITING TO CENTRAL BANK OF INDIA ABOUT PAYMENT OF RS.10 CRORE FOR PROVIDING INFORMATION ABOUT BANK’S CUSTOMERS ETC.VIOLATING DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED FOR LICENSING OF CORPORATE AGENTS

PAID COMPENSATION TO CENTRAL BANK OF INDIA FOR SOLICITATION BY THIRD PARTY TO SHARE INFORMATION ABOUT ITS MEMBERS   		IMPOSED PENALTY RS.5,00,000

09-FEB-2011 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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