WHETHER THE INVESTMENTS BY LIC ARE SUBJECT TO JUDICIAL REVIEW

Dear  friends                                                                                                26-6-2018

             Reg :  WHETHER  THE INVESTMENTS  BY LIC  ARE SUBJECT TO   JUDICIAL  REVIEW

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All of  u might have read the press reports . Knowing  that  the IDBI  is  bedridden with  nonperforming assets  LIC Board decided to   purchase   43% stake   in addition to  the existing  about 11%  share LIC Board  might have  been pressurized  by  DOF  or  FM  or Cabinet  

We the pensioners   are fighting  for upgradation of  basic pension.  

I am  requesting u all  to  think over whether  this decision  to dump  in a sick bank can be pointed out in the  hearing   on 24-7-2018 . It is the responsibility of  Finance Ministry to pump  necessary capital into the Bank.  Instead  LIC has been forced to  revive   the IDBI .  It can be safely  concluded that there  shall  not be  any return on the huge  investment . The investment may be treated as written off

I just  thought of  sending application under  RTI  requesting for  the   details of  the office note  put up to 

LIC Board.  That means  all the  4   MDs  are involved  

I know that  LIC  shall  simply deny the  information . But still  the denial  will be  on record kindly throw  some light  on this  point.       

y/s     

cs murty  

09441242417    

Kindly throw some light.