ED has investigated care health insurance regarding ESOP irregularities, extracted summons sent to senior lawyer

Mumbai, June 20 (IANS). The Mumbai Branch Care Health Insurance Limited (Chil) is investigating money laundering for alleged violation of the rules in issuing the employees’ Owner Scheme (ESOP) by the Directorate for Enforcement (ED). According to the ED, despite the rejection of the proposal by the Insurance Regulatory and Development Authority of India (Irdai), Chil issued ESOPs at a much lower price on May 1, 2022. The Ed said in a press release: “Part of the investigation was issued to Pratap Venugopal, an independent director of Chil, to understand what circumstances the ESOP issued, despite the rejection of Irdai and the Chil sign, the rejection of Irdai and the Chil sign was issued.” The statement said it is also noteworthy that Irdai Chil ordered to cancel all ESOPs on July 23, 2024, which has not yet been allocated. At the same time, Chil also imposed a fine from one crore calls for not following the regulatory instructions. The case was allegedly discussed at Chil’s subsequent council meeting. As part of the investigation, the ED summons issued to the senior lawyer Venugopal, who serves as an independent director in the Chil Council, to find out under what circumstances the company continues to continue with the ESOP award. Thereafter, the ED has now withdrawn summonses and accepted the stature of Venugopal as a senior lawyer in the Supreme Court. The agency has made it clear that any necessary documents related to his role as an independent director are sought by email. The ED said: “In addition, the ED has also issued a circular for the leadership of regional offices that no summer will be issued to any lawyer who violates Article 132 of the Indian Evidence Act, 2023 (BSA).” It is said: “In addition, if there is a need to issue any summons under the exceptions given under the determination of Article 132 of BSA, 2023, it will only be issued with the preceding approval of the Ed director.” -Ians PSK/Ekd Share this Story Tags