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The Insurance Regulatory and Development Authority (Irda) has constituted a working group to harmonise its corporate governance guidelines and disclosures with the Companies Act, 2013.
R K Nair, member (finance and investment), Irda, is chairman of the group. The group, which hass representatives from Irda, insurance companies, insurance councils and accounting firms, will recommend changes to insurance regulations in the light of the Companies Act, 2013, especially those related to corporate social responsibility, related-party transactions and financial statements.
