SAYAS GENERAL INSURANCE SOCIETY LTD ALIAS NAVIN SAYAS CO-OP SOCIETY THROU. R.L. CHAVANversusINSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA THROU. ITS CHAIRMAN AND ORS

        Digitally
        signed by
        NISHA
NISHA   SANDEEP                                                              16-wp.2898.2026.doc
SANDEEP CHITNIS
CHITNIS Date:
        2026.09.29
        12:34:48               IN THE HIGH COURT OF JUDICATURE AT BOMBAY
        +0530                          CIVIL APPELLATE JURISDICTION

                                      WRIT PETITION NO.2898 OF 2026

                      Sayas General Insurance Society Ltd
                      (Now Navin Sayas Co-operative Society Ltd.)
                      Through its Secretary
                      Ravindra Laxman Chavan                                ...Petitioner
                           Versus
                      Insurance Regulatory and Development
                      Authority of India,
                      Through its Chairman and Ors.                         ...Respondents

                      Mr. Prathamesh S. Phadtare i/b Mr. Navin Arora for the Petitioner.

                      Mr. Sandesh Shukla with Mr. Aavish Shetty, Mr. Harekrishna Ashar i/b
                      K. Ashar and Co., for the Respondent No.1-Insurance Regulatory and
                      Development Authority of India (IRDAI)

                      Mr. Kedar Dighe, Addl. G.P. with Mr. M. M. Pable, A.G.P. for the
                      Respondent-State.

                                                  CORAM: BHARATI DANGRE &
                                                         ASHISH S. CHAVAN, JJ.

                                                DATE     : 28th SEPTEMBER 2026
                      P.C. :

                      1.            The present petition depicts an unfortunate situation for

                      the petitioner, as it was unable to align the timelines. We say so on the

                      basis of the pleadings in the petition, which reflect that the Insurance

                      Regulatory and Development Authority of India (“IRDAI”), on 30 th

      N. S. Chitnis                                                                          1/3
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                March 2022, in reference to the application seeking its No Objection

                for incorporation of a General Insurance Co-operative Society in India,

                issued a No Objection Certificate (“NOC”) to the extent that the

                petitioner could incorporate a “General Insurance Co-operative

                Society” with the      competent Co-operative Authority. It         was

                contemplated that an application for registration was to be filed within

                a period of one year from the date of issuance of the said letter and

                that a Certificate of Registration was to be obtained from the IRDAI,

                so as to enable the petitioner to carry on the business of “General

                Insurance” in India. The aforesaid communication was issued in the

                year 2022.

                              However, there is a considerable gap between the said

                event and the date on which the Commissioner of Co-operation and

                Registrar, Co-operative Societies, Pune, on 13 th February 2025,

                registered the petitioner, permitting the use of the word “General”, but

                stipulated a condition that an NOC from the IRDAI should be

                obtained. It is worth noting that, by the time the present order is

                passed, the limit of the IRDAI Certificate had already lapsed.


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                2.            In the peculiar facts and circumstances which have been

                narrated before us, we can only see one course of action open to the

                petitioner, namely, to once again make an application to the IRDAI, i.e.

                respondent No.1, and, while that is in force, approach the Registrar of

                Co-operative Societies, seeking registration.

                            We hope and trust that, this time, the petitioner does not

                miss the bus and that, once the IRDAI grants the requisite permission,

                it takes immediate steps to approach respondent No.2.

                            The Writ Petition stands disposed of.



                ASHISH S. CHAVAN, J.                       BHARATI DANGRE, J.




N. S. Chitnis                                                                        3/3