New Delhi/IBNS, June 4 -- The Securities and Exchange Board of India's (SEBI) crackdown on Rajesh Exports has sparked a political controversy, with the Congress on Thursday questioning the Life Insurance Corporation of India's (LIC) over 10% stake in the company, which is now under regulatory scrutiny.

In a post on X, Congress general secretary in-charge (Communications) highlighted LIC's 10.8% holding in the company-funded by public money-and questioned how such a large-scale issue went undetected by India's largest insurer despite significant bank exposures.

He also raised questions over the role of the ruling Bharatiya Janata Party (BJP) in relation to LIC's investment in the company.

SEBI acts against Rajesh Exports

In its interim...