Financial Daily from THE HINDU group of publications
Saturday, Feb 25, 2006
Financial Daily from THE HINDU group of publications Saturday, Feb 25, 2006 |
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Money & Banking
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Financial Services IRDA cancels licence of Sage Insurance Our Bureau
Hyderabad , Feb. 24 The Insurance Regulatory and Development Authority (IRDA) has cancelled the broking licence of the New Delhi-based Sage Insurance Brokers Pvt Ltd for suppression of material facts pertaining to one of the promoters of broking company at the time of registration as an insurance broker. According to IRDA, the broking company concealed material facts relating to Ms Preeti N. Aggarwala, one of its promoters. Another charge against the company was that it submitted declaration to the effect that all questions had been truthfully and fully answered in the broking application, which was materially incorrect.
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