ICICI Prudential to takeover Sahara Life

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  • IRDA (Insurance Regulatory & Development Agency) directs ICICI Prudential to takeover Sahara Life
  • Sahara Life is a subsidiary of Sahara Group led by Mr. Subrata Roy
  • IRDA on 23-07-2017 had prohibited Sahara Life from issuing Insurance Policies
  • Expression of Interest (EOI) was invited from other insurance players to takeover the business of Sahara Life
  • ICICI Prudential expressed interested to buy Sahara Life
  • IRDA has now ordered and the order is now binding on both the parties i.e. Sahara Life and ICICI Prudential

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