SBI Life, IRDAI case to be heard on Oct 23 in SAT

Pertains to a Rs 275-cr refund order that insurance regulator had passed against life insurer

The case between SBI Life Insurance and Insurance Regulatory and Development Authority of India (IRDAI) that was now with the Securities Appellate Tribunal (SAT) will be heard on October 23.

The matter was supposed to come for discussion today, but will now come up in October.

This pertains to a case between SBI Life and the case relates to a Rs 275-crore refund order that the insurance regulator passed against the life insurer.

It had asked SBI Life to refund this policy amount to all policyholders who had purchased it in the past, on grounds of irregularities in the way that it was sold to customers.