LIC clarified that its investments in Adani group companies were made independently, following board-approved policies and detailed due diligence. The insurer denied any involvement of the government, emphasizing diversified investments across top Indian firms and robust fund management practices

New Delhi: Life Insurance Corporation of India (LIC) on Saturday said its investments in Adani group companies have been made independently and in accordance with its board-approved policies, following detailed due diligence.

“Department of Financial Services (in the Union Finance Ministry) or any other body does not have any role in such (investment) decisions,” LIC said in a statement posted on X.

India’s largest insurer has, over the years, made investment decisions across companies based o

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