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IRDA slaps Rs 12 lakh penalty on Sahara Life Insurance

Insurance sector regulator IRDA slapped a fine of Rs 12 lakh on Sahara Life Insurance Company promoted by Subrata Roy-led Sahara Group for violation of various regulations, including delay in death claim settlement.

IRDA slaps Rs 12 lakh penalty on Sahara Life Insurance

The company, set up in 2004, has been directed to pay the fine within a period of 15 days from the date of receipt of the order.