The Insurance Regulatory and Development Authority of India (Irdai) is increasing its scrutiny of venture-funded startups that are aiming to become insurance companies, following the spate of financial irregularities at several new-economy firms, people aware of the matter said.To begin with, companies seeking a licence are required to liquidate any holding company structures and instead accept investor funding directly in the entity that is submitting the application, they added.Irdai also... Read this story
