SBI Life Remains Custodian as SAT Dismisses Sahara Life Appeal

The IRDAI order, issued in June 2023, followed governance concerns at Sahara Life and directed the transfer of nearly two lakh policies to SBI Life. While Sahara Life had challenged the directive, SAT’s dismissal now provides finality to the matter. SBI Life confirmed receipt of the SAT order on December 10, 2025, and assured uninterrupted servicing of transferred policies. Analysts note that the ruling underscores the regulator’s strong stance on protecting policyholders’ interests and maintaining stability in the insurance sector.  

Notable updates  
• SAT dismisses Sahara Life’s appeal against IRDAI order  
• SBI Life continues as custodian of Sahara Life’s policies and obligations  
• IRDAI’s June 2023 directive upheld, ensuring policyholder protection  
• Nearly two lakh policies transferred to SBI Life for servicing  
• Decision reinforces regulatory oversight and sectoral stability  

Major takeaway  
SAT’s ruling closes a prolonged dispute, affirming IRDAI’s policyholder-first approach and ensuring operational certainty with SBI Life as the servicing insurer.  

Sources: Reuters, Business Standard, CNBC-TV18