The Union government has stated in Parliament that the Life Insurance Corporation of India (LIC) has invested more than Rs 48,000 crore in various companies of the Adani Group. The information was shared by Union finance minister Nirmala Sitharaman in a written reply, which was based on data updated till September 30.
According to the reply, LIC has invested a total of Rs 48,284.62 crore in the group. Out of this amount, Rs 38,658.85 crore has been invested in equity, while Rs 9,625.77 crore has been invested in different debt instruments of Adani companies. The government also informed that LIC has invested Rs 5,000 crore in secured non-convertible debentures of Adani Ports and Special Economic Zone Limited.
This statement comes around two months after reports suggested that the Narendra Modi government had quietly prepared a plan worth $3.9 billion to help the Adani Group, which has been dealing with high levels of debt. Those reports had said that the plan involved directing funds from LIC to support the conglomerate, though the government did not comment on that specific claim while responding in Parliament. 
The written reply was given in response to questions raised by MPs Mohammed Jawed and Mahua Moitra. The MPs had asked for details about LIC’s investments in private companies. However, the government said it could not provide a full list of all private companies in which LIC has invested. It explained that sharing such a detailed list may not be “commercially prudent” and could harm LIC’s operational and debt-related interests.
The government also noted that LIC makes its investment decisions as per its internal guidelines, market conditions, and regulatory frameworks. It said that LIC’s investments are made with the aim of protecting the interests of policyholders and ensuring long-term returns.
