Shareholding change in Insurers

The Insurance Regulatory and Development Authority of India said in a communication on transfer of equity shares of Insurance companies that no registration of transfer of shares or issue of share capital can be made which would result in a shareholding structure change  The regulator said, if after the transfer, the paid up holding of the transferee in the share of the Insurance companies is likely to exceed 5% of its paid up capital, it would not be approved.