Life Insurance Corp. of India said it makes independent investment decisions, pushing back against a Washington Post report that alleged Indian officials influenced the company to plow money into billionaire Gautam Adani ’s businesses.
LIC, the country’s largest institutional investor, gets board approval and carries out due diligence before making investments, it said in a post on X. The state-run insurer denied the Post reportBloomberg Terminal on Friday that said government officials pushed a proposal in May for it to invest about $3.9 billion in Adani companies.
India’s LIC Says It’s Not Influenced Into Adani Investments
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