Corruption at regulator? Irdai member aided, abetted graft, says SAT

The Securities and Appellate Tribunal (SAT) has set aside an order passed by the Insurance Regulatory and Development Authority of India (Irdai) in a case filed by UK-based Atkins Special Risks, an insurance broker, and said the insurance regulator’s member P J  Joseph “aided and abetted” corruption. 

The tribunal has directed Irdai to entrust the matter to an officer other than Joseph for passing a fresh order. “In our opinion, the order passed by P J Joseph, member (non-life), Irdai, on January 9 which, in our opinion, is passed in gross abuse of the process of law and dereliction of