The Life Insurance Corporation of India (LIC) on Saturday dismissed inaccurate reports from The Washington Post. The company reaffirmed that all investments by Adani made with integrity and careful attention.
In response to the article, LIC said that the claims from The Washington Post, alleging that external factors influence its investment decisions, are “false and baseless.”
LIC dismiss the Washington Report on Adani Investments
LIC clarified, “No such document or plan as alleged in the article prepared by LIC. It outlines a roadmap for infusing funds into the Adani group of companies.”
The article suggested that officials fast-tracked a proposal in May this year to direct about $3.9 billion in investments. LIC explained that investment decisions made independently according to Board-approved policies after thorough due diligence.
Reports 3.91% Rise in Q1 FY26 Consolidated Net Profit
LIC said that the claims in the article “seem aim to undermine the well-established decision-making process of LIC. It tarnish the reputation and image of LIC and the strong financial foundations in India.”
LIC reported a 3.91 % year-on-year increase in its consolidated net profit for the June quarter of the current financial year (Q1 FY26). The profit rose to Rs 10,957 crore from Rs 10,544 crore in the same period last year (Q1 FY25), according to its stock exchange filing.
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