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SOURCE OF INFORMATION : INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA WEBSITE
PERIOD COVERED : 16-AUG-2002 TO 21-NOV-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: EXCEEDED PERMISSIBLE LIMITS ON EXPENSES OF MANAGEMENT UNDER SECTION 40C OF INSURANCE ACT,1938

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ING VYSYA LIFE INSURANCE CO.LTD.  
  EXCEEDED PERMISSIBLE LIMITS ON EXPENSES OF MANAGEMENT UNDER SECTION 40C OF INSURANCE ACT,1938   ADVISED TO BRING EXPENDITURE LEVELS WITHIN THE PRESCRIBED LIMITS

18-NOV-2010 		 
2
History of entity/person NEW INDIA ASSURANCE CO.LTD.,THE  
  EXCEEDED PERMISSIBLE LIMITS ON EXPENSES OF MANAGEMENT UNDER SECTION 40C OF INSURANCE ACT,1938   ADVISED TO BRING EXPENDITURE LEVELS WITHIN THE PRESCRIBED LIMITS

18-NOV-2010 		 
3
History of entity/person TATA AIG LIFE INSURANCE CO.LTD.  
  EXCEEDED PERMISSIBLE LIMITS ON EXPENSES OF MANAGEMENT UNDER SECTION 40C OF INSURANCE ACT,1938   IMPOSED PENALTY RS.5,00,000

25-NOV-2010 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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