Insurance regulator Irdai has imposed a Rs 3-crore penalty on Max Life for its share sale deal with Axis Bank, which the regulator said circumvented regulations on commission limits. The penalty is against three charges - misrepresentation to the regulator, higher-than-permitted compensation to the corporate agent, and not following fair market value in share transactions.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4ZnJrkC
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