The Congress on Saturday (October 25, 2025) demanded a probe by Public Accounts Committee (PAC) of Parliament into what it described as a “disturbing misuse” of Life Insurance Corporation of India (LIC) funds to benefit the Adani Group.
The party alleged that officials of the Ministry of Finance and NITI Aayog pushed through a proposal in May 2025 to invest nearly ₹33,000 crore of LIC’s funds in the Adani group to “signal confidence” in the conglomerate and “encourage participation from other investors.”
The allegations follow an exposé in The Washington Post, which cited internal documents to report how LIC was meant to invest money in the Adani group after a US court had indicted business tycoon Gautam Adani in a bribery allegations case.
Made investments in Adani firms independently, after detailed due diligence: LIC
There was no immediate response from the Adani Group or the government on the Congress’ allegations.
