Whereas M/S. SPT Insurance Park Broking Service [P] Ltd. (hereinafter referred to as the ‘Broker’) having its Registered Office at Shanthi Apartments, Flat No.5, II Floor, New No.25, Vyasar Street, T.Nagar, Chennai-600 017 have been granted license by the Authority to act as a Direct Broker [General Insurance] vide License No. 189 on 22 nd day of July, 2003 pursuant to the provisions of the IRDA (Insurance Brokers) Regulations, 2002 (herein after referred to as the `Regulations`).

Whereas vide their letter dated 09.01.2007, the Broker expressed its desire to surrender the license and requested the authority to permit them to surrender the license granted.

Whereas the Broker has also undertaken to service the existing clients whose policies are in force for a period of six months as required under Regulation 40 of the said Regulations.

Whereas the Broker vide its letter dated 26.02.2007 submitted the original license No.189 for cancellation.

Now, therefore, pursuant to the request made by the Broker for voluntary surrender of the direct broking license, the Authority hereby cancels the Direct Broker [General Insurance] License No. 189 granted to M/S. SPT Insurance Park Broking Service [P] Ltd with immediate effect.

(K.K.Srinivasan)
Member