Judgment/OrdersSupreme Court Grants Interim Protection To Teesta Setalvad For 7 Days ; Stays HC Order After Special Night SittingCase title- Teesta Atul Setalvad v. State of Gujarat Citation-SLP.
The Supreme Court recently set aside the order of the Securities Appellate Tribunal (SAT) that had stayed an order of the Insurance Regulatory and Development Authority Of India (IRDAI) directing.
The Supreme Court on Monday admitted IRDAs appeal against the Securities Appellate Tribunal s (SAT) decision staying the insurance regulators order directing Sahara India Life Insurance Company to transfer its life insurance business to SBI Life Insurance Company.
The bench led by Justice Abhay S Oka while seeking a response from Sahara India Life said, "Some solution has to be found to protect the interest of 3,300 people who have filed their claims." It also asked Sahara to submit details of the mechanism to find a solution and posted the matter for further hearing on July 10.
SAT stays IRDAI's order: SAT had last week stayed IRDAI's order directing transfer of policy liabilities, entire business as well as well as assets of Sahara to SBI