New Delhi, Oct. 25 -- Life Insurance Corporation of India (LIC) on Saturday termed false and baseless, and far from the truth, the allegations levelled in a report by the Washington Post, which had claimed that the investment decisions of the insurance company are influenced by external factors.

The Washington Post had claimed that Indian officials had drafted a proposal to channel approximately USD 3.9 billion (Rs 32,000 crore) from LIC into companies owned by the Adani Group.

"No such document or plan as alleged in the article has ever been prepared by LIC, which creates a roadmap for infusing funds by LIC into the Adani group of companies," LIC said in its rebuttal today.

LIC categorically asserted that its investment decisions are ...