New Delhi: The Life Insurance Corporation of India (LIC) on Saturday said it has invested in Adani Group companies independently and only after a thorough evaluation.
The insurer clarified that the investments were made in line with policies approved by its board of directors.
The clarification came in response to a report published by The Washington Post, which alleged that LIC was influenced by government officials to invest in the Adani Group earlier this year when the conglomerate was heavily indebted and under scrutiny in the US.
In a statement issued on social media platform X, LIC said, “The Department of Financial Services of the Union Ministry of Finance or any other entity has no role in such investment decisions.”
