The Life Insurance Corporation of India (LIC) has close to Rs 25 crore outstanding from the GitanjaliBSE -4.90 % group, against which it has security of the group’s Hyderabad Gem Special Economic Zone (SEZ). The corporation had originally extended a loan of Rs 125 crore, a large part of which has been repaid.
The only exposure the corporation has to the Nirav Modi/Mehul Choksi groups is a term loan provided for the SEZ. The Hyderabad Gems SEZ is a subsidiary of Gitanjali group and is am ..
