Chennai, Nov 6 (TIWN) Which financial sector regulator in India has the luxury of having 7,450 square feet office in high rent city Mumbai for just six officials?

Well, the answer is the Insurance Regulatory and Development Authority of India (IRDAI) that runs on policyholders' money, a senior official, speaking on condition of anonymity, told IANS.  One can play 'catch me if you can' there, the official added.  "It is IRDAI's 'kala pani' (the Cellular Jail or the colonial-era prison in Andaman during the British rule - where inconvenient officials to the powers that be are transferred out of Hyderabad," the official said.  Sources told IANS, the IRDAI had taken on lease an office space of 7,450 square feet in Churchgate, Nariman Point, Mumbai in 2014, got it renovated at a cost of more than Rs 1 crore, and opened its Mumbai Regional office (MRO) in October 2015.  Since 2015, at any point of time, not more than 10 officers have been posted in the MRO - a luxurious 740 square feet per official.