Irda imposes Rs 20-L fine on Bharti Axa JVs

Taking a serious view on the flouting of company laws , the Insurance Regulatory & Development Authority (Irda) on Thursday slapped a fine of Rs 10 lakh each on Bharti Life Insurance and Bharti Axa General insurance company. While such non-compliances have serious implications on the regulatory status of your company which will be considered separately, it is also relevant to note that the effect of non-compliances by any insurer of any regulatory mandate issued in the interest of the orderly growth of the insurance business is likely to jeopardise the regulation and development of the business which in turn ...

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