India relaxes accounting rules to ease IRDA filings

By Shirish Nadkarni, Mumbai

INDIA’S Department of Company Affairs (DCA) has permitted insurance companies to re-open and revise their accounts in order to comply with the technical requirements of any other statute, even if those accounts have been adopted in an annual general meeting (AGM) and filed with the Registrar of Companies, writes Shirish Nadkarni, Mumbai.