LIC firmly denies allegations of impropriety regarding its investments in the Adani Group, following a report by The Washington Post. The Life Insurance Corporation of India (LIC) issued a statement on Saturday, asserting that all its investment decisions are made with integrity and thorough due diligence.

The LIC's rebuttal comes in response to claims that officials fast-tracked a proposal in May 2025 to direct approximately $3.9 billion (around Rs 32,000 crore) from LIC to companies owned by Gautam Adani. The LIC described these allegations as "false, baseless, and far from truth," emphasizing that no such document or plan exists that outlines a roadmap for funding the Adani Group.

In its statement, LIC clarified that its investment decisions are made independently, adhering to board-approved policies and after comprehensive evaluations. It stated, "The Department of Financial Services or any other body does not have any role in such decisions." The insurer also highlighted that it maintains the highest standards of due diligence, ensuring compliance with relevant policies and regulations to protect the interests of all stakeholders.

LIC criticized the Washington Post's report, suggesting that it was intended to undermine the established decision-making processes of the corporation and damage its reputation. The company reiterated its commitment to transparency and integrity in all its financial dealings.

In related news, LIC reported a 3.91% year-on-year increase in its consolidated net profit for the June quarter of the current financial year, rising to Rs 10,957 crore from Rs 10,544 crore in the same period last year. This financial performance underscores LIC's robust position in the Indian insurance sector, despite the recent controversies.