conflect between IRDA & SEBI

Recently,SEBI has issuing the notice to 14 insurence companies to stop there oparation,this is due to non availability of certificate from SEBI to invest their customer money in mutul fund but on the other hand insurence reguratory and development authorety(IRDA) does not have any doubet in this issue,it said that companies are investing in share like an investor so they does not need any additional certificate .Due to conflict of two finance service regulatories bodies policyholders are in worry