Copyright thehindubusinessline
State-run Life Insurance Corporation (LIC) said on Saturday that the allegations made by the Washington Post are false, baseless, and far from the truth. Rebutting the article by the US-based publication, LIC said “The allegations levelled by the Washington Post that the investment decisions of LIC are influenced by external factors are false, baseless, and far from truth.” No such document or plan as alleged in the article has ever been prepared by LIC, which creates a roadmap for infusing funds by LIC into Adani group of companies, it added. “The investment decisions are taken by LIC independently as per Board approved policies after detailed due diligence. Department of Financial Services or any other body does not have any role in such decisions,” it emphasised. LIC has ensured highest standards of due diligence and all its investment decisions have been undertaken in compliance with extant policies, provisions in the Acts and regulatory guidelines, in the best interest of all its stakeholders. “These purported statements in the article appear to have been made with the intentions to prejudice the well settled decision-making process of LIC and also to tarnish the reputation and Image of LIC and the strong financial sector foundations in India,” the insurance major added. Published on October 25, 2025
