Delta Life Insurance Company has been embezzled three thousand six hundred and eighty seven crore rupees.
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The insurance regulator, the Insurance Development and Regulatory Authority, sent a letter to the financial institution of the finance ministry on December 1 stating that the company had incurred huge financial losses during the tenure of the previous board of directors.
The insurance regulator, the Insurance Development
The letter said that the audit firm appointed by Delta Life Insurance had reviewed the provisional interim report submitted to the Insurance Development and Regulatory Authority and found that the insurance regulator had incurred a financial loss of Rs 36 crore. The letter added that Delta Life Insurance had been involved in money laundering during its previous board of directors.
The letter said that the audit firm appointed
According to the Insurance Development and Regulatory Authority, the company suffered huge financial losses as a result of corruption, revenue evasion and mismanagement.