WHEREAS, M/S. Iksita Insurance Brokers Pvt. Ltd., (hereinafter referred to as the ‘Broker’) having its Registered Office at D-29, Rear LGF, Jungpura Extn., New Delhi – 110014 has been granted license by the Authority to act as a Direct Broker in the field of both life and general insurance vide License No. 211 on 17th September, 2003 and renewed till 16th September, 2009 pursuant to the provisions of the IRDA (Insurance Brokers) Regulations, 2002.
WHEREAS, the Broker vide letter dated 11th November, 2010 communicated to the Authority that it would like to discontinue as Direct Insurance Broker with immediate effect.
WHEREAS, the Broker has given an undertaking to service the existing contracts concluded by them and also make suitable arrangements with another licensed broker for future servicing as required under Regulation 40 of the IRDA Insurance Brokers Regulations 2002.
WHEREAS, the Broker vide its letters dated 27.03.2011, 10.01.2012 and 14.07.2012 surrendered the original license No.211 along with all other requirements.
NOW THEREFORE, pursuant to the request made by the Broker for surrender of Broker License, the Authority hereby cancels the Direct Broker License No. 211 granted to M/S. Iksita Insurance Brokers Pvt. Ltd.
Sr. Joint Director