Allegations against IRDAI & IIISLA for anti-competitive practices dismissed by CCI

The Competition Commission of India (CCI) dismissed a case filed by a licensed Surveyor and Loss Assessor (SLA), alleging anti-competitive conduct, against Insurance Regulatory and Development Authority of India’s (IRDAI) in connivance with the Indian Institute of Insurance Surveyors and Loss Assessors (IIISLA). IRDAI mandated membership with the IIISLA as an eligibility criterion for grant of renewal of SLA’s license which, as alleged, resulted in creating a monopoly in favour of IIISLA. However, the CCI observed that IRDAI is a statutory body created under the IRDAI Act, 1999 and IIISLA is a body promoted by IRDAI in the discharge of its functions under Section 14(2)(k) of the IRDAI Act. Thus, held that decision being regulatory in nature, the case falls outside the jurisdiction of the CCI.