Photo of Pranjita Barman

Principal associate in the General Corporate Practice at the Mumbai office of Cyril Amarchand Mangaldas. Pranjita advises on mergers & acquisitions and private equity investments and specializes in the insurance industry. She can be reached at pranjita.barman@cyrilshroff.com

Pledge of Shares of an Insurance Company - A discussion on IRDAI clarifications

Introduction

We have in our recent post discussed the clarifications issued by the Insurance Regulatory and Development Authority of India (“IRDAI”)  in relation to Transfer of Shares of an insurance company. These clarifications were notified pursuant to the circular issued to all CMDs and CEOs of insurance and re-insurance companies on July 22, 2020 (“Circular”). However, the Circular also discussed certain critical issues relating to creation of pledge over shares of an insurance company.
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