Mumbai: The Life Insurance Corporation of India (LIC) has strongly refuted allegations made by The Washington Post suggesting that its investment decisions were influenced by external factors, particularly in relation to the Adani Group.

In an official statement issued on Saturday, LIC termed the claims “false, baseless, and far from the truth,” asserting that no such document or plan, as alleged in the article, has ever been prepared by the corporation to channel funds into Adani Group companies.

The statement clarified that all investment decisions are made independently by LIC, following Board-approved policies and after thorough due diligence. “The Department of Financial Services or any other body has no role in these decisions,” the insurer said, adding that all investments strict

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