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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 COMPANY: LOAN GRANTED ON UNIT LINKED INSURANCE POLICIES

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person MAX NEW YORK LIFE INSURANCE CO.LTD.  
  ISSUED ADVERTISEMENT WHEREIN AN OFFER OF 2% REBATE WAS MADE IN VIOLATION OF SECTION 41 OF THE INSURANCE ACT, 1938

GRANTED LOANS ON THREE UNIT LINKED POLICIES   		IMPOSED PENALTY RS.5,00,000

13-MAY-2008 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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