Shares of PB Fintech Ltd have been buying and selling within the purple and a couple of% decrease on 5 August after the Insurance coverage regulator IRDAI issued a Rs 5 crore nice on the corporate’s on-line insurance coverage aggregator, Policybazaar, for regulatory violations linked to directorships held by key managerial people.
In its regulatory submitting, the corporate mentioned, “IRDAI issued an Order dated 4 August 2025, levying a penalty in combination of Rs 5 crores for violation of provisions of relevant IRDAI Rules with respect to sure points pertaining to Directorships held by Key Managerial Personnel (KMPs) and principal officer (PO), product show, Outsourcing Agreements, tagging of insurance policies and premium remittance.”.
The penalty additionally applies to areas corresponding to its principal officer (PO), product show, outsourcing agreements, coverage tagging, and premium remittance, in line with PB Fintech.
IRDAI inspected Policybazaar in June 2020 and issued a present trigger discover to PB Fintech in October 2024.
In accordance with PB Fintech, IRDAI has issued ‘additional instructions/advisory’ which have to be adopted inside a selected timeframe. The company has not specified what these new instructions are.
In accordance with administration, the penalty’s monetary affect is proscribed to the required quantity, and it expects no affect on Policybazaar’s operations or different actions. The order will probably be introduced to the Board on the future assembly, and an motion taken report will probably be despatched to the authorities, it added.
In a associated case, in June 2024, market regulator Sebi issued a Present Trigger Discover to Yashish Dahiya, Chairperson and CEO of PB Fintech, for a Dubai funding made in 2022.
At 12:24 pm, the shares of PB Fintech have been buying and selling 0.89% decrease at Rs 1,765 on NSE.
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