New Delhi, Oct 25: State-run Life Insurance Corporation of India (LIC) has firmly rejected a report by The Washington Post that claimed Indian officials had drafted a plan to channel nearly $3.9 billion (around ₹32,000 crore) of LIC funds into companies owned by the Adani Group as reported by Business Today.

Calling the claims “false, baseless and far from truth,” LIC said it had never prepared or received any such proposal from the government. The insurer clarified that all its investment decisions are taken independently, based on board-approved policies and detailed due diligence. It added that neither the Department of Financial Services (DFS) nor any other government body has any role in its investment choices. LIC said the report appeared to be an attempt to “prejudice” its decisio

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