LIC refutes Washington Post report, reaffirms independence of investment decisions
The report had claimed that the Indian government devised a plan to infuse funds into the Adani Group through LIC
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Published: Oct 25, 2025 5:19 PM | 1 min read
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Life Insurance Corporation of India (LIC) has strongly rejected allegations made in a recent report by The Washington Post, calling them “false, baseless and far from the truth.” The report had claimed that the Indian government devised a plan to infuse funds into the Adani Group through LIC, amounting to roughly USD 3.9 billion.
In an official statement, LIC clarified that no such document or roadmap was ever prepared. It reaffirmed that all investment decisions are taken independently by its board, strictly in accordance with approved policies and after thorough due diligence.
“LIC has not prepared any document or plan which creates a roadmap for infusing funds by LIC into the Adani Group of companies,” the statement said. It further emphasised that neither the Department of Financial Services nor any other government body has any role in its investment decision-making process.
The insurer also noted that the allegations appear intended to “prejudice the well-settled decision-making process” and “tarnish the reputation and image of the company in the Indian market.”
The Washington Post report, published on 24 October 2025, suggested that the government had crafted an aid plan for Adani Group’s debts involving LIC. Both LIC and Adani have categorically denied the claims.
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