<p>“The Supreme Court is in vacation.The transfer petition is likely to be taken up in July,” Irda Chairman J Hari Narayan told PTI when asked about the progress on resolving its dispute with Sebi over controlling unit-linked insurance products (Ulips). Significantly, the Irda chief is not sure whether the apex court will decide on the issue of jurisdiction of Ulips as it is not directly raised in the transfer petition filed by Sebi before the apex court.<br /><br />“The issue of jurisdiction is not squarely mentioned in the petitions. It is only obliquely mentioned,” said Narayan, who was in the Capital and met Finance Secretary Ashok Chawla.<br /></p>
<p>“The Supreme Court is in vacation.The transfer petition is likely to be taken up in July,” Irda Chairman J Hari Narayan told PTI when asked about the progress on resolving its dispute with Sebi over controlling unit-linked insurance products (Ulips). Significantly, the Irda chief is not sure whether the apex court will decide on the issue of jurisdiction of Ulips as it is not directly raised in the transfer petition filed by Sebi before the apex court.<br /><br />“The issue of jurisdiction is not squarely mentioned in the petitions. It is only obliquely mentioned,” said Narayan, who was in the Capital and met Finance Secretary Ashok Chawla.<br /></p>
