Star Health and Allied Insurance Company Limited has received official approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the transmission of 8,28,82,958 equity shares formerly held by the late Mr. Rakesh Jhunjhunwala. This procedural step aligns with the probate granted in his name, marking a significant milestone in the administrative handling of these holdings within the company.
Regulatory Approval Received
On April 06, 2026, Star Health and Allied Insurance received formal confirmation regarding the transfer of equity shares. The approval concerns the transmission of 8,28,82,958 shares, which were held by the late Mr. Rakesh Jhunjhunwala. This development signifies that the necessary regulatory conditions have been satisfied to proceed with the share transmission process.
Implementation Process
The company confirmed that the transmission of these shares will be conducted strictly in accordance with the legal requirements and procedures specified in the probate granted in the name of the late Mr. Rakesh Jhunjhunwala. This ensures that the transfer of the 8,28,82,958 equity shares follows the prescribed legal and regulatory framework.
Source: BSE
