Under what circumstances an applicant shall not be eligible to apply for registration under IRDA (Insurance Regulatory & Development Authority) ?

An applicant shall not be eligible to apply for Registration under IRDA (Insurance Regulatory & Development Authority) in the following circumstances: Where the requisition for registration application has been rejected by the Authority or withdrawn; or Where the foreign investors or Indian Promoter of the existing venture have exited for any reason at any time during the preceding two financial years from the date of requisition for registration application; or Where application for registration has been rejected by the Authority or withdrawn by the applicant for any reason at any time during the preceding two financial years from the date of requisition for registration application; or Where Certificate of Registration has been cancelled by the Authority; or Where the name of the applicant does not contain the words 'insurance' or 'assurance'.