Founder of InGovern Research (a corporate governance and proxy advisory firm), Shriram Subramanian on Monday refuted the claims made in a recent Washington Post report on the Life Insurance Corporation of India’s (LIC) investment in the Adani Group, and said it “should be dismissed and not given any attention.”

Subramanian said that the report lacks credible data and termed it “surprising and far-fetched.”

Speaking to ANI, Shriram Subramanian said, “…LIC’s investment in the NCD, a non-convertible debenture of Adani Ports worth Rs 5,000 crores, took place in May 2025. So, it is very surprising to see this… Adani Ports made the proper announcement that the Rs 5,000 crore was subscribed to by LIC in May 2025, and that the bonds were AAA-rated by CRISIL at a 7.75% coupon; all the terms were

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