Sub : Cancellation of Broker License No 176. WHEREAS, M/S. PEGASUS INSURANCE BROKERS PVT LTD., (hereinafter referred to as the ‘Broker’) having its Registered Office at 24, Col. Biswas Road, Kolkatta-700 019 and Corporate Office at A 405, Punit Tower 2, Sector 11, C.B.D. Belapur, Navi Mumbai-400 614 has been granted license by the Authority to act as a Direct Broker (General Insurance) vide License No.176 on 12 th day of June, 2003 pursuant to the provisions of the IRDA (Insurance Brokers) Regulations, 2002. WHEREAS, the Authority, in exercise of powers granted under Regulation 34 of the IRDA (Insurance Brokers) Regulations, 2002, suspended the license of the Broker vide Order No. BRO/ORD/044/October-04 dated 13 th October, 2004 . WHEREAS, the Broker vide its letter dated 10 th April, 2006 expressed its decision to surrender the Broking License and whereas the Authority examined the request and advised the Broker to furnish the documents/information for cancellation of license. WHEREAS, the Broker has now submitted the r equirements including the original license No.176 for cancellation. NOW THEREFORE, pursuant to the request made by the Broker for cancellation of Broker License, the Authority hereby cancels the Direct Broker License No. 176 granted to M/S. Pegasus Insurance Brokers Pvt Ltd with immediate effect. Since, by this order, M/S. Pegasus Insurance Brokers Pvt Ltd cease to be an insurance broker, the company formed for this purpose also ceases and the change of name M/S. Pegasus Health & Risk Managers Pvt Ltd granted to it vide ROC fresh certificate of incorporation consequent upon change of name dated 17 th April, 2008 does not entitle it to function as an entity registered with IRDA for any activity related to insurance.
( Prabodh Chander ) |
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