FM meets SEBI, IRDA on Ulip row

The finance ministry has held a meeting with the officials of the two warring regulators, Sebi and Irda, over the issue of control of Ulips and is understood to have impressed upon them the need to sort out the differences amicably.

The meeting, which was held on 04.05.2010, came even as the Supreme Court issued notices to the Centre, Irda and 14 life insurance companies on a petition by the markets regulator Sebi to transfer all the PILs filed in different high courts to the apex court.

“They met us yesterday… Everything is normal,” finance secretary Ashok Chawla told reporters when asked whether the failure of truce brokered by the ministry has prompted them to call the regulators for a second round of discussion.