If you are an Existing User, please enter your Username & Password below

Forgot Password?

Are you a New User? Click here to enrol

close

Click here to visit old website
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 BROKER: VIOLATED IRDA DIRECTIVES/INSTRUCTIONS/GUIDELINES ON CORPORATE GOVERNANCE

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person SAHARA INDIA LIFE INSURANCE CO.LTD.  
  TRANSFERRED FUNDS TO GROUP ENTITY SAHARA INDIA IN THE NAME OF SECURITY DEPOSIT

DID NOT RESPOND TO IRDAI QUERIES RAISED ON ITS FINANCIAL STATEMENTS

DID NOT VEST SUFFICIENT POWERS WITH WHOLE TIME DIRECTOR (WTD) AND CEO COMMENSURATE WITH THEIR ROLES AND RESPONSIBILITIES

OPERATED WITHOUT BOARD APPROVED BUSINESS PLAN

DID NOT PROVIDE RECONCILIATION OF BANK ACCOUNTS

LONG PENDING PROPOSAL DEPOSITS FOR REFUND

DID NOT HAVE INTERNAL CONTROLS IN PLACE   		DIRECTED TO TAKE IMMEDIATE STEPS TO RECOVER ADVANCE OF RS.78.15 CRORE FROM SAHARA INDIA

DIRECTED TO TRANSFER SHAREHOLDING TO OTHER FIT AND PROPER PROMOTERS

DIRECTED TO SUBMIT PROPER BOARD APPROVED BUSINESS PLAN TO IRDAI

DIRECTED TO RECONCILE ALL REMAINING UNRECONCILED BANK ACCOUNTS WITHIN TWO MONTHS

DIRECTED TO STRENGTHEN INTERNAL CONTROL SYSTEMS AND CONDUCT BUSINESS IN ACCORDANCE WITH CORPORATE GOVERNANCE

30-DEC-2020 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

This website is not comprehensive and is being updated on a regular basis. Users are requested to carefully look at the formats and the information about the coverage period that appears on search results pages.

DISCLAIMER BY NSE

NSE is the co-sponsor of this website and supportive of the initiative taken for protection of interest of investors by Praxis Consulting & Information Services Pvt.Ltd. (PRAXIS), the creator of this website. However, NSE bear no responsibility for the views/information that is available on this website and as responsibility of the contents of this website solely rests with PRAXIS. NSE shall not be responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to or reliance on any information available on this website. Investors/visitors of this website are also advised to read through the other general disclaimer(s) and terms and conditions available on this website before using the website.

Site designed and maintained by watchoutinvestors.com
© PRIME DATABASE GROUP 2004-2024
No part of this site may be reproduced without the explicit permission of the owners.

top