LIC Says Its Investments in Adani Firms Were Its Own Call — Not Govt-Backed
Facebook
Twitter
LinkedIn
WhatsApp
Summary: LIC insists its Adani investments were independent, made after due diligence and without government involvement.
Life Insurance Corporation (LIC) has finally broken its silence on the chatter about its investments in Adani Group companies — and it’s making one thing very clear: no one told us to do it.
According to LIC, all investments in Adani firms were made “independently and as per board-approved policies,” following a detailed due diligence process. The insurance giant said it acted on its own judgment, without any input from the government or other agencies.
This statement comes after a report by The Washington Post claimed that the Indian government had planned to channel around $3.9 billion of LIC’s funds into Adani Group companies. The article claimed, numerous government ministries were engaged in developing this investment plan, which LIC has categorically denied.
The corporation stated that no such plan or roadmap has ever been developed, and that its investment decisions are strictly guided by internal policies and regulatory standards.
It also pointed out that its exposure to Adani companies is just a small slice of its massive investment portfolio, which has grown from about ₹1.56 lakh crore in 2014 to ₹15.6 lakh crore across India’s top 500 companies today.
In simpler terms, LIC’s message is: we know what we’re doing, and we don’t take instructions.
