[Resolved]  SEBI — Recent Ban

The recent ban from SEBI on 14 Insurance companies relating to their ULIP policies is a welcome sign. If there is any relaxation, there should be some check and balance and people friendly approach. The innocent people should not be cheated in the hands of IRDA approved ULIP products. IRDA has failed to look into this earlier. Atleast the IRDA should open its eyes and issue necessary direction to the said 14 insurance companies to follow the SEBI rules and regulations. I am told that IRDA is not taking stringent action against the erring Insurance Companies such as Bajaj Allianz Life Insurance Company Ltd., If there is any big scam in the insurance field, the IRDA is to be blamed and prosecuted under law.