LIC denies false reports by The Washington Post, reaffirming all investments are made with integrity and due diligence
The investment decisions are taken by LIC independently as per Board approved policies after detailed due diligence. Department of Financial Services or any other body does not have any role in such decisions.
LIC denies false reports by The Washington Post, reaffirming all investments are made with integrity and due diligence
New Delhi: The allegations leveled by the Washington Post that the investment decisions of LIC are influenced by external factors are false, baseless, and far from truth, LIC releases a statement over this. No such document or plan as alleged in the article has ever been prepared by LIC, which creates a roadmap for infusing funds by LIC into Adani group of companies.
It is said that, The investment decisions are taken by LIC independently as per Board approved policies after detailed due diligence. Department of Financial Services or any other body does not have any role in such decisions.
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These purported statements in the article appear to have been made with the intentions to prejudice the well settled decision-making process of LIC and also to tarnish the reputation and image of LIC and the strong financial sector foundations in India.
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