LIC chairman M R Kumar on Thursday said the officials of the public sector insurer will soon meet top management of the Adani Group and seek clarification on the crisis being faced by the diversified conglomerate.
LIC’s investment into Adani group firms’ stock has come under criticism by the opposition parties as well as investors after US-based short-seller Hindenburg Research made a litany of allegations against the Gautam Adani-led group, saying its companies manage and manipulate share prices, run offshore shell companies for round-tripping and lacking in corporate governance practices.
“Though our investor team has already sought clarifications from the Adanis, our top management could contact them yet as we have been busy preparing the results.
