Stake dilution: IRDA can't meddle in local-foreign promoters' deal, say experts

[IndiaInsurance]

The Insurance Regulatory and Development Authority may not be able to force promoters of insurance companies to proportionately dilute their stakes in case of an initial public offering as there is no legal provision that empowers the regulator

More... (http://www.thehindubusinessline.com/2010/10/13/stories/2010101352610600.htm)