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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 BROKER: DID NOT MAINTAIN ADEQUATE LIMIT OF INDEMNITY IN PROFESSIONAL INDEMNITY POLICY

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person PARAMOUNT INSURANCE BROKERS PVT.LTD.  
  DID NOT ADHERED TO THE CONDITIONS ON WHICH THE LICENCE WAS GRANTED

INDULGED IN INDUCEMENT IN CASH OR KIND TO THE CLIENT’S DIRECTORS AND THE PERSONS ACTING AS INTRODUCERS

DID NOT SUBMIT HALF YEARLY ACCOUNTS WITHIN STIPULATED TIME LIMIT

DID NOT MAINTAIN ADEQUATE LIMIT OF INDEMNITY IN PROFESSIONAL INDEMNITY POLICY

DID NOT MAINTAIN SYSTEM OF INTERNAL CONTROLS AND INTERNAL AUDIT

DID NOT MAINTAIN , PRESERVE AND PRODUCE BOOKS OF ACCOUNTS , RECORDS , VOUCHERS ETC.   		CANCELLED CERTIFICATE OF REGISTRATION AS INSURANCE BROKER

04-JUL-2007 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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