Let’s Connect

IRDAI – Final Order in the matter of Shri Pradeep Kumar Singh, Insurance Surveyor and Loss Assessor

  • Regulatory Updates
  • IRDAI – Final Order in the matter of Shri Pradeep Kumar Singh, Insurance Surveyor and Loss Assessor

IRDAI Cancels Surveyor and Loss Assessor Licence of Shri Pradeep Kumar Singh

The Insurance Regulatory and Development Authority of India (“IRDAI” / “Authority”) has issued an Order in the matter of Shri Pradeep Kumar Singh, Surveyor and Loss Assessor, vide Order No. DAI/INT/ORD/Misc/58/4/2026 dated April 30, 2026, with respect to allegations that the Surveyor had obtained a Surveyor and Loss Assessor (“SLA”) Licence (No. IRDA/IND/SLA-85077) on the basis of a fake qualification certificate.

Background

The Authority received a complaint dated July 29, 2025, alleging that the Surveyor had obtained the aforesaid licence using a fake diploma certificate. Clarifications were sought through an email dated July 29, 2025, to which the Surveyor responded on August 8, 2025.Upon examination of the response and supporting documents, the Authority observed that the matter related to the eligibility criteria for grant and continuation of the SLA Licence, warranting further regulatory scrutiny.Accordingly, the Authority issued a Show Cause Notice (“SCN”) dated February 4, 2026. The Surveyor submitted a written response dated February 10, 2026, and requested a personal hearing, which was conducted on March 18, 2026, before Shri Deepak Sood, Member (Non-Life), and Shri Swaminathan Iyer, Member (Life).

Observations and Decision of the Authority

ChargeViolationObservationsDecision
Submission of false qualification documents for obtaining an SLA LicenceSection 42D(3) and Section 64UM(1)(a) of the Insurance Act, 1938, and Regulation 8(1)(a) of the IRDAI (Surveyors and Loss Assessors) Regulations, 2015.Relevant Provisions:Section 42D(3) of the Insurance Act:
Every application for registration as an insurance intermediary shall be in such form and manner and be accompanied by such documents and fee as may be specified by the regulations.
Section 64UM(1)(a) of the Insurance Act:
No person shall act as a Surveyor or Loss Assessor unless he possesses such academic qualifications as may be specified under the regulations.
Regulation 8(1)(a) of the SLA Regulations:
The Authority may refuse renewal of licence where the applicant makes a false statement in material particulars relating to eligibility for obtaining the licence.
The Authority observed that:
  • Non-availability of a genuine diploma certificate from Monad University at the relevant time could not justify submission and continued reliance on an invalid qualification certificate.
  • The Surveyor failed in his obligation to furnish complete, true and correct information while applying for the licence.
  • Even after obtaining a valid diploma from Monad University, the Surveyor failed to disclose that the earlier certificate submitted from Hewett Polytechnic College was false.
  • The non-disclosure amounted to suppression of material facts and demonstrated lack of honesty, integrity and due diligence expected from a licensed Surveyor and Loss Assessor.
  • Submission of a valid qualification in 2023 did not absolve the Surveyor of the earlier misconduct of relying upon a forged certificate for nearly a decade.
  • The Authority concluded that the Surveyor knowingly submitted false material particulars and suppressed material information, warranting stringent regulatory action.
  • The Authority cancelled the Surveyor’s Licence under Regulation 24(1) of the SLA Regulations.
  • The Surveyor may apply for a fresh Surveyor Licence after expiry of one year from the date of cancellation.
  • The renewal application (Reference No. 500054016 dated August 10, 2025) was rejected.

Final Decision

  • The Authority held that the Surveyor knowingly relied upon and submitted false qualification documents while obtaining the licence.
  • The Surveyor suppressed material facts even after acquiring a valid qualification.
  • The Surveyor’s Licence No. IRDA/IND/SLA-85077 was cancelled under Regulation 24(1) of the SLA Regulations.
  • The renewal application bearing Reference No. 500054016 dated August 10, 2025, was rejected.
  • The Surveyor may apply for grant of a fresh licence after one year from the date of cancellation.
  • The Order is appealable under Section 110 of the Insurance Act, 1938 before the Securities Appellate Tribunal (“SAT”) within forty-five (45) days from the date of receipt of the Order.

Attachment

  • IRDAI Order in the matter of Shri Pradeep Kumar Singh (Surveyor and Loss Assessor).
Source Category: IRDAI

Comments are closed