The Securities and Appellate Tribunal (SAT) will now hear the Sahara Life Insurance versus Insurance Regulatory and Development Authority of India (IRDAI) case on August 10, which pertains to IRDAI directive to transfer Sahara Life Insurance’s policyholder liabilities.
The case that came up for hearing on Monday has been put-off for Thursday. It is likely that the SAT will expedite its final decision before IRDAI's order comes into effect from August 21.
Last Monday, Sahara Life approached SAT and got a one-week reprieve. SAT had ordered a status quo in which period IRDAI was to furnish its reply.
