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IRDAI issues clarification on applicability of provision of section 6A (4) B of Insurance Act, 1938

May 12, 2021
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The IRDAI has come up with circular with respect to applicability of provision of section 6A (4) B of the Insurance Act, 1938. In many situation, it has been observed while exercise of ESOP result in invocation of provision of section 6A (4) B of the Insurance Act, 1938. As a result, all ESOPs at time of grant needs to be reported to the authority.
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