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IRDA imposes Rs 1 crore penalty on Cholamandalam MS General Insurance

Updated : January 10, 2020 06:33 AM IST

Cholamandalam MS General Insurance has to pay the penalty amount of Rs 1 crore within 15 days of receiving the order.
Cholamandalam MS General Insurance paid in advance to Ashok Leyland, Cholamandalam MS Risk Services and DHFL, said IRDA.
The insurer paid about 23 crore to Ashok Leyland in advance and it was adjusted towards advertising and publicity expenses, said the regulator.
IRDA imposes Rs 1 crore penalty on Cholamandalam MS General Insurance

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