Goa, Oct. 25 -- The Life Insurance Corporation of India (LIC) on Saturday strongly denied a report by The Washington Post suggesting that its investment decisions were influenced by external factors, calling the allegations "false, baseless, and far from truth."

In its statement, LIC clarified that no such document or plan, as claimed in the report, was ever prepared to facilitate fund infusion into Adani group companies. The insurer reaffirmed that all investments are made with integrity and due diligence, strictly following Board-approved policies and regulatory norms.

The Washington Post report had alleged that officials fast-tracked a proposal in May this year to direct around $3.9 billion in investments from LIC to an Adani group f...