Moving SAT against Irda decisions could hit insurers
Delhi : With the Securities Appellate Tribunal (SAT) empowered to deal with cases from refusal of registration to imposition of penalty by the Insurance Regulatory and Development Authority of India (Irdai), through the Insurance Laws (Amendment) Ordinance 2014, a host of cases will come to it.“SAT has become the prevailing authority for the insurance sector, too. While we are awaiting an insurance expert in it for dealing with our cases, it is still unclear whether cases pending before the court will also be transferred to SAT,”
