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  • News From Press LIC defends holding in ITC, says no law prevents investments in tobacco firms

    LIC defends holding in ITC, says no law prevents investments in tobacco firms

    Source: Mint Jun 27, 2017

    Life Insurance Corp. of India (LIC) has defended its holding in ITC Ltd saying this was a routine investment decision and that there was no law or policy that prevented insurance firms from investing in tobacco firms.

    It also said that all its activities are subject to directives and control of the central government, effectively passing the buck to the centre.

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