LIC chairman says, will meet Adani Group top management soon

 

Mumbai:  The LIC management will soon meet the top management of the crisis-ridden Adani Group and seek clarification on the crisis being faced by the diversified conglomerate, chairman M R Kumar said here on Thursday.

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. We are soon going to call them to meet us and explain. We want to understand what is happening in the market and in the group,” the chairman told reporters at the earnings conference on Thursday.