LIC: No govt directive to invest in any Adani entity

Life Insurance Corporation (LIC) of India

NEW DELHI: Days after Washington Post reported that the Centre had asked LIC to invest in Adani Group companies, the state-run player has said that it did not receive any instructions from the govt for investing in any entity of the conglomerate. “LIC categorically clarifies that the documents mentioned have not been issued by LIC, nor have any such documents been received by LIC,” it posted on Twitter on Tuesday. On Saturday, LIC had denied the report saying that the company’s investment decisions are taken independently by its board after due diligence. Rebutting the Post report, it said that the department of financial services or other agencies do not have any role to play in such decisions