Life Insurance Corporation of India today said its investments in Adani group companies were made independently even as the Congress demanded an investigation by Parliament’s Public Accounts Committee into the controversy triggered by a Washington Post report on the insurer. The US media house alleged that LIC’s investments took place after Adani shares took a beating in the markets.

In a statement posted on X, LIC said its investment decisions were taken “as per Board-approved policies after detailed due diligence”.

“The Department of Financial Services (in the Union Finance Ministry) or any other body does not have any role in such (investment) decisions. LIC has ensured the highest standards of due diligence and all investment decisions have been undertaken in compliance with extant p

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