M/S. IMPERIAL INSURANCE BROKERS PVT. LTD. having its Registered Office at B-1/15, Hauz Khas, New Delhi 110 016 has been granted renewal license by the Authority to act as a Direct Broker vide License No.132 w.e.f. 11-03-2006 valid for a period of three years pursuant to the provisions of the IRDA (Insurance Brokers) Regulations, 2002.
WHEREAS, the Broker vide letter dated 26th February, 2009 submitted their application for renewal of direct broking license to the Authority.
WHEREAS, during the scrutiny of the renewal application, the Broker vide letter dated 31st March, 2010 communicated to the Authority their desire to surrender the Direct Insurance Broking License.
WHEREAS, the Broker vide letter dated 12th February, 2011 submitted all the requisite documents/explanations with regard to surrender of their license including the Board Resolution of the Company and the original License No.132.
WHEREAS, the Broker has given an undertaking to service the existing clients whose policies are in force for a period of six months from date of cancellation of license as required under Regulation 40 of the IRDA (Insurance Brokers) Regulations, 2002, within which it has to make suitable arrangements with another licensed broker to service the contracts already concluded.
NOW THEREFORE, pursuant to the request made by the Broker for surrender of Broker license, the Authority hereby cancels the Direct Broker License No.132 granted to M/s. Imperial Insurance Brokers Pvt. Ltd.
(Suresh Mathur)
Joint Director
