LIC has issued a statement.
Life Insurance Corporation of India (LIC) has strongly denied the Washington Post report, in which it was claimed that government officials had put pressure on LIC to invest $ 3.9 billion i.e. about Rs 33,000 crore in the companies of businessman Gautam Adani, while Adani was facing legal troubles in America.
Here, in a statement released on social media, government life insurance company LIC said that it takes all its investment decisions independently, and completely denied the existence of the alleged documents reported by Washington Post.
LIC statement
LIC clearly said that no such document or plan exists which has any roadmap for investing money in Adani Group companies. The company described these allegations as false, baseless and far from the truth. LIC said, these allegations made by Washington Post are false, baseless and beyond the truth. As per the report, no document or plan for investing money in Adani Group has ever been prepared by LIC. LIC further said, all our investment decisions are taken independently after due diligence, in accordance with the policies approved by the Board. The Department of Financial Services or any other institution does not play any role in these decisions.
LIC denies false reports by The Washington Post, reaffirming all investments are made with integrity and due diligence.#LIC #HarPalAapkeSaath #washingtonpost pic.twitter.com/RQ0N2AvBA1
— LIC India Forever (@LICIndiaForever) October 25, 2025
What is the whole matter?
The controversy began when The Washington Post published an exclusive report on Friday, claiming that internal government documents revealed a planned attempt to divert public money from LIC to Adani Group shares. It was said in the report that LIC was pressured to make huge investments to support Adani companies. However, now LIC has completely rejected all these allegations and said that there is no external pressure or secret plan to invest in Adani or any other company.
How much is LIC’s investment in Adani?
According to the information, LIC’s investment in Adani Group shares is less than 1% of its total assets. Also, LIC had invested when Adani shares had fallen after the Hindenburg report. Later, when the shares rose after all the allegations were dismissed, LIC made huge profits. LIC has clearly stated that its investment decisions are independent and transparent and the Washington Post report is completely false and misleading.