authority of Tariff Advisory Committee (TAC) and
Insurance Regulatory and Development Authority (IRDA), reproduced a
circular dated 16.11.2009 issued by IRDA to CEOs ... circular which has been reproduced by the High
Court is as follows:-
“IRDA
Ref: IRDA/NL/CIR/F&U/073/11/2009
The National Insurance Co. Ltd vs Krishnan on 15 March, 2013
Author: S.Manikumar
Bench
claim before the Insurance Regulatory
Development Authority (for short „the IRDA‟), respondent No.2
herein. Vide order dated 31.7.2002, two surveyors were
appointed ... IRDA for survey and loss assessment as well as
for re-examination of the question of damages claimed by the
respondent No.3. Inasmuch
with
Ms. Reshmi Rea Sinha, Adv.
for IRDA.
Mr. Pankaj Seth, Adv. for
Royal Sundaram Alliance
Insurance Co. Ltd. and
Universal Sompo General
Insurance ... thereafter
by Insurance Regulatory and Development Authority
(hereinafter referred to as IRDA) under the Insurance
Regulatory and Development Authority Act, 1999 . TAC
issued a circular
Dipak K. Nag with Ms.
Aparna Upamnyu, Advocates
for IRDA.
CORAM:
HON'BLE MR. JUSTICE J.R. MIDHA
JUDGMENT
1. The petitioner is seeking ... insurance sector in India is regulated by Insurance
Regulatory and Development Authority (IRDA) an autonomous body
constituted under IRDA Act, 1999 . IRDA has, from time
Advocate, with Nishita Lamba i/b. Daya
Gupta for Respondent No.2-IRDA.
Mr. Yogesh Naidu a/w Asim Vidhyarthi & Ms. Veena Shankar ... against functioning of respondent no.2 - Insurance Regulatory
Development Authority (IRDA).
2.
Under the Insurance Regulatory and Development Authority
Act, 1999 particularly under section
dated
'16.11.2009' issued by the Insurance Regulatory and
Development Authority (IRDA) to the effect that the claim, as in
the instant case ... insurer to produce copy of the Circular dated
16.11.2009 issued by the IRDA and also the terms and
conditions attached to Ext.B1 policy
life insurance business license by the Insurance Regulatory and
Development Authority (IRDA) as it fulfills the criterion laid down in section ... assessee obtained licence from the Insurance
Regulatory and Development Authority ('IRDA') for carrying on life insurance
business on 15.11.2000. The assessee offers
schedule with reference
to 'other insurance business' did incorporate the
IRDA and its Regulations as amended by the Finance ... supplied)
This indicates that the legislature consciously omitted
incorporating the provisions of IRDA or the Regulations
made there under in Rule 2 which still refers
fact, in view of the TAC’s directives and
those of the IRDA, such a plea was not
permissible and ought not to have been ... Policy”. As the circulars have made the
position very clear and the IRDA, which is presently the
Statutory Authority, has commanded the Insurance Companies
