Life Insurance Corporation of India (LIC) on Saturday lashed out at The Washington Post and rejected its report that claimed that a proposal was drafted by Indian officials to channel USD 3.9 billion (Rs 32,000 crore) from the state-run insurance company to entities owned by billionaire industrialist Gautam Adani. The LIC of India termed the allegations levelled by the US media major as “false, baseless and far from truth”.

A Washington Post investigation by Pranshu Verma and Ravi Nair alleged that in May 2025, Indian finance officials expedited LIC’s $3.9 billion investment in Adani Group despite identified financial risks.

The LIC denied the allegations, saying no such proposal or document had ever been prepared by the insurer or the government.

The state-owned insurer asserted that

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