New Delhi. The allegations made by the Washington Post that LIC’s investment decisions are influenced by external factors are false, baseless and far from the truth. No such document or plan mentioned in the article has ever been prepared by LIC, which would prepare a roadmap for investing money on behalf of LIC in Adani Group companies.
Read :- ‘Narendra Modi wasted the public money invested in LIC on his friend Adani…’, Congress’s big allegation.
Investment decisions in LIC are taken independently after detailed due diligence and in accordance with policies approved by the Board. The Department of Financial Services or any other body has no role in such decisions. LIC has adhered to the highest standards of due diligence and all its investment decisions have been taken in the best interest of all its stakeholders, in compliance with the extant policies, provisions of the Act and regulatory guidelines. These alleged statements made in the article appear to be made with the intention of damaging the well-established decision making process of LIC and tarnishing the reputation and image of LIC and the strong foundation of the financial sector in India.
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