The Washington Post report claimed that Indian officials had prepared a proposal in May 2025 under which a plan was being made to transfer approximately $3.9 billion of investment of government insurance company LIC to Adani Group companies. However, LIC has strongly refuted this report on October 25 calling it completely false and misleading. LIC said in its statement that this news seems to have been published with the aim of influencing their decision making process and damaging their reputation. The company clarified that any investment decisions are taken only after board-approved policies and detailed due diligence, and any external pressure has no role in it. The report also said that LIC had invested $570 million in Adani Ports & SEZ in May 2025, while international surveillance on Adani Group was going on at that time. But LIC pointed out that its portfolio is diversified and its exposure to Adani Group is only less than 2% of the total loans. Both LIC and Adani have completely rejected these allegations, which has brought relief to investors. Now all eyes will be on the Stock Market Reaction of Monday (27 October).
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