New Delhi, Oct 25: The Congress, on Saturday, demanded that Parliament's Public Accounts Committee (PAC) investigate the Life Insurance Corporation (LIC) following an US media report that the public sector company made huge investments in Adani Group's securities after they took a beating in the markets.

However, the LIC denied the allegations as "false, baseless, and far from the truth".

Congress general secretary in-charge of communications Jairam Ramesh alleged the savings of LIC's 30 crore policyholders were "systematically misused" to benefit the Adani Group.

In a statement, Ramesh said disturbing revelations have just emerged in the media about how the "Modani joint venture systematically misused the Life Insurance Corporation of India (LIC) and the savings of its 30 crore policy

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