The Insurance Regulatory and Development Authority of India (Irda) is likely to give conditional approval to Life Insurance Corporation of India (LIC) that will allow it to hold on to its shareholding in companies beyond the stipulated 15 per cent limit, said two people familiar with the plan.
Irda is likely to say that stateowned LIC can maintain its stakes in about 40 entities to avoid a fire sale to comply with the regulatory limit for insurance companies, but holdings can't be r ..
