SAT Mumbai sets aside IRDAI orders calling for prior permission before invocation of pledge on shares of Insurance company

SAT Mumbai sets aside IRDAI orders calling for prior permission before invocation of pledge on shares of Insurance company

The Securities Appellate Tribunal (SAT) Mumbai on Thursday set aside an order passed by the Insurance Regulatory and Development Authority of India (IRDAI) which held that prior approval of the regulatory authority was required before creation or invocation of a pledge on shares of an insurance company.

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