(Querist) 12 April 2008
This query is : Resolved
sir, i am a LIC agent for the last 2 years,under IRDA regulations. agency is not a job , means off role not on role. at that time i got a oppotunity from a mutual fund AMC under AMFI ( SEBI REGULATIONS). for the job of RM. sir i want to know whether that AMC can object against my LIC agency or not? whether they have the right as per the sebi rules to ask me to surrnder my agency? what is the actual legal point on this matter ? if not then whether they have the right to ask me for the NOC only and not for the surrender of my agency. sir please help me to tell me what is the actual law position on this matter.
1. as you have lic agents licence from irda ,you can also simultaneously apply for licence under mutual fund managed by authority sebi. 2. there is no requirement of N.O.C 3. they cannot object to your present profession
best regards, manmeet singh arora.
(Querist) 15 April 2008
RESPECTED SIR, MY PROBLEB IS I DONOT WANT TO APPLY FOR THE LICENCE BUT I HAVE TO DO THE JOB ( on rloe) MEANS BECOMING THE EMPLOYEE OG A MUTUAL FUND AMC. AFTER BECOMING EMPLOYEE WHTHER THEY ASK ME TO SURRENDER MY AGENCY OF LIC OR NOT ?
manmeet singh arora
(Expert) 15 April 2008
dear mohit, 1. in that case they will ak you to surrender your agency 2. because an employee is on a job role and he cannot run any other agency.
(Expert) 03 April 2009
i agree with the views .. better take agence in name of other member of your family
(Expert) 06 April 2009
Thanks all of you the ld. members. I think your valuable opinion will assist everybody to solve their problem/matter in question properly.