Supreme Court of India has noticed every center of IRDA. This is due to the allegation that some companies are mis-representing the features of Unit Link Insurance Plan (ULIPS) when selling the plan.

All Apex courts have transferred all the litigations regarding the UILPS to the Supreme Court .The court will hear all the matter on 8th of July by Justice S H Kapadia and the bench of three judges.

Under which jurisdiction the plan will be regulated will be decided on that particular day. The Supreme Court is expected to settle the dispute between two regulators of the country, SEBI and IRDA.

J Hari Narayan, the IDRA chairman has informed that, SEBI and IRDA problem is of jurisdiction. The main issue is that does SEBI have the right to sell the UILPS. It has been the most popular and safe plans for the investors. But the companies are selling it by misrepresenting the features. He has also said that IRDA can’t accept such irregularities. SEBI has to answer on this matter, he says.