LIC Denies Washington Post Allegations of External Influence on Adani Investments
The Life Insurance Corporation of India (LIC) has issued its second formal denial, refuting a Washington Post report that claimed its investment decisions in the Adani Group were influenced by external government pressure.
Key Takeaways
- LIC states it never issued or received documents cited in the Washington Post report
- The insurer denies receiving any government instructions regarding Adani investments
- This marks LIC’s second public rebuttal of the allegations
- Investment decisions are made independently following board-approved policies
Official Denial and Statement
In a strong rebuttal, LIC clarified that the documents referenced in the Washington Post report were neither issued by nor received by the corporation. The public sector insurer emphasized that it operates with complete autonomy in its investment decisions.
LIC categorically clarifies that the documents mentioned have not been issued by LIC, nor have any such documents been received by LIC.Furthermore, LIC has not received any instructions from the Government regarding investments in any entity under this group. https://t.co/PylUQsBnEK— LIC India Forever (@LICIndiaForever) October 28, 2025
Background of the Allegations
The Washington Post report had claimed that Indian officials drafted a proposal to channel approximately USD 3.9 billion (Rs 32,000 crore) from LIC into Adani Group companies. The publication alleged coordination between the Department of Financial Services, Ministry of Finance, LIC, and NITI Aayog in investment decisions.
Previous Rejection and Current Position
This represents LIC’s second denial, following an earlier rejection on Saturday where the corporation described the allegations as “false, baseless, and far from the truth.”
LIC maintained that no such document or investment roadmap for the Adani group exists. The corporation asserted that all investment decisions follow board-approved policies and undergo detailed due diligence.
“Department of Financial Services or any other body does not have any role in such decisions,” LIC stated unequivocally.
Commitment to Due Diligence
The insurance giant emphasized its commitment to highest standards of due diligence, confirming all investments comply with existing policies, statutory provisions, and regulatory guidelines. LIC maintains these practices protect the interests of all stakeholders.
LIC characterized the Washington Post report as an attempt to tarnish the corporation’s reputation. Life Insurance Corporation of India remains India’s state-owned insurance and investment leader.
