State-owned life insurance giant, Life Insurance Corporation of India (LIC) on Saturday denied the Washington Post's allegations and said that the claims made by the newspaper were false, baseless and far from the truth.
“The allegations leveled by the Washington Post that the investment decisions of LIC are influenced by external factors are false, baseless, and far from truth,” said LIC in an official statement.
After the Washington Post's report on Friday, 24 October 2025, LIC on Saturday clarified that there was ‘no document or plan’ that allegedly creates a roadmap for fund infusion into the Adani Group by the State-owned insurance firm.
The US-based newspaper, in its report, alleged that the investment decisions in LIC are influenced by external factors. The newspaper also claimed that $3.9 billion was channelled into Adani Group companies through the insurance giant.
No such document or plan as alleged in the article has ever been prepared by LIC
However, rejecting the claims, LIC said, “No such document or plan as alleged in the article has ever been prepared by LIC, which creates a roadmap for infusing funds by LIC into the Adani group of companies.”
LIC also informed people that all the investment decisions in the company are made by the board of directors based on the approved policies after detailed due diligence.
“Department of Financial Services or any other body does not have any role in such decisions,” they said.
The insurance giant stated that the claims made by the foreign newspaper were allegedly made with the ‘intentions to prejudice the well-settled decision-making process’ of the company, adding that “the move aims to ‘tarnish the reputation’ and image of the company in the Indian market.”
“LIC has ensured highest standards of due diligence and all its investment decisions have been undertaken in compliance with extant policies, provisions in the Acts and regulatory guidelines, in the best interest of all its stakeholders,” LIC added.
What did Washington Post claim?
US-based newspaper, The Washington Post, in its report published on Friday, 24 October 2025, alleged that the Indian government crafted its own aid plan for the debts piling up for the Adani Group of companies.
However, Adani Group and now the State-owned insurer both have denied their involvement in any type of government plan, which allegedly directed the funds through LIC.
