LIC Defends Adani Investments: A Stand for Independent Decisions
Life Insurance Corporation of India (LIC) has clarified its investments in Adani group companies were made independently, adhering to board-approved policies and due diligence. Denying any governmental influence, LIC stated its decisions stem from solid fundamentals, as demonstrated by a significant growth in investment value since 2014.
- Country:
- India
The Life Insurance Corporation of India (LIC) affirmed its investment autonomy regarding its stake in Adani group companies, stating all decisions follow rigorous due diligence and adhere to board-approved policies.
LIC's clarification comes amid allegations from The Washington Post, suggesting officials guided LIC into investments with Adani, which the insurer denies, emphasizing that no governmental or external entities influence its decisions.
Boasting a substantial increase in investment value in major publicly listed companies since 2014, LIC maintains its strategy revolves around diversified investments across numerous sectors, including significant stakes in large corporations apart from Adani, highlighting broader confidence in its financial stewardship.
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