16-wp.2898.2026.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.2898 OF 2026 Sayas General Insurance Society Ltd (Now Navin Sayas Co-operative Society Ltd.) Through its Secretary Ravindra Laxman Chavan ...Petitioner Versus Insurance Regulatory and Development Authority of India, Through its Chairman and Ors. ...Respondents Mr. Prathamesh S. Phadtare i/b Mr. Navin Arora for the Petitioner. Mr. Sandesh Shukla with Mr. Aavish Shetty, Mr. Harekrishna Ashar i/b K. Ashar and Co., for the Respondent No.1-Insurance Regulatory and Development Authority of India (IRDAI) Mr. Kedar Dighe, Addl. G.P. with Mr. M. M. Pable, A.G.P. for the Respondent-State. CORAM: BHARATI DANGRE & ASHISH S. CHAVAN, JJ. DATE : 28th SEPTEMBER 2026 P.C. : 1. The present petition depicts an unfortunate situation for the petitioner, as it was unable to align the timelines. We say so on the basis of the pleadings in the petition, which reflect that the Insurance Regulatory and Development Authority of India (“IRDAI”), on 30th N. S. Chitnis 1/3 NISHA SANDEEP CHITNIS Digitally signed by NISHA SANDEEP CHITNIS Date: 2026.09.29 12:34:48 +0530 16-wp.2898.2026.doc March 2022, in reference to the application seeking its No Objection for incorporation of a General Insurance Co-operative Society in India, issued a No Objection Certificate (“NOC”) to the extent that the petitioner could incorporate a “General Insurance Co-operative Society” with the competent Co-operative Authority. It was contemplated that an application for registration was to be filed within a period of one year from the date of issuance of the said letter and that a Certificate of Registration was to be obtained from the IRDAI, so as to enable the petitioner to carry on the business of “General Insurance” in India. The aforesaid communication was issued in the year 2022. However, there is a considerable gap between the said event and the date on which the Commissioner of Co-operation and Registrar, Co-operative Societies, Pune, on 13th February 2025, registered the petitioner, permitting the use of the word “General”, but stipulated a condition that an NOC from the IRDAI should be obtained. It is worth noting that, by the time the present order is passed, the limit of the IRDAI Certificate had already lapsed. N. S. Chitnis 2/3 16-wp.2898.2026.doc 2. In the peculiar facts and circumstances which have been narrated before us, we can only see one course of action open to the petitioner, namely, to once again make an application to the IRDAI, i.e. respondent No.1, and, while that is in force, approach the Registrar of Co-operative Societies, seeking registration. We hope and trust that, this time, the petitioner does not miss the bus and that, once the IRDAI grants the requisite permission, it takes immediate steps to approach respondent No.2. The Writ Petition stands disposed of. ASHISH S. CHAVAN, J. BHARATI DANGRE, J. N. S. Chitnis 3/3