ICICI Prudential's takeover of Sahara Life put on hold
Subrata Roy-promoted Sahara India Life Insurance on Monday moved the Securities Appellate Tribunal (SAT) against insurance regulator IRDAI's orders to transfer the business to ICICI Prudential Life Insurance. Sahara Life has challenged the order on the grounds that its business has been continuously profitable. Following this, SAT put the takeover on hold for a week and sought IRDAI's response.