From: Colinjivadi Mahadevan <chmahadevan@gmail.com>
Date: Tue, 25 Aug 2026, 21:18
Subject: Need for Inclusion of details of Valuation Surplus in LIC Annual Report
To: <chairman@sebi.gov.in>
Cc: : <chairman@irda.gov.in>, <chairman@licindia.com>
1) Till a few years ago , the valuation surplus emerging at the end of the financial year was being published in the Annual Reports. But during the last two years or more, the details of the valuation surplus are not finding a place in the Annual Reports. In fact Shareholders are entitled to receive 10% of the valuation par surplus and 100% of non-par valuation surplus. So Annual Reports should necessarily contain the details of par and non-par surplus that emerge out of every annual actuarial valuation. When I sought the information under RTI, LIC declined to furnish the information. Why are these details omitted from publication in the Annual Report?
I got a reply from LIC as follows:
The Insurance Regulatory and Development Authority of India (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 and other regulations extant applicable to the Corporation does not mandate the disclosure of Valuation Surplus in the Annual Reports. Hence, the same is not disclosed in the Annual Reports of the Corporation.
My suggestion:
Valuation Surplus is an important item in the accounts of LIC in which Policyholders and Shareholders are stakeholders.Earlier the details were published in the LIC Annual Reports when the Central Government was having 10٪ shareholding in the Corporation.Now after two tranches of public offers,the public shareholding is 10% with the remaining 90% shares being held by the Central Government. So, in my opinion, there is a need for disclosure of the Valuation Surplus for par policies and non par policies with clear indication of quantum of entitlement of respective shares of Policyholders and Shareholders.This is important for the sake of transparency towards the stakeholders.
I request you to kindly consider my suggestion as above and advise LIC suitably as you may deem proper.
Thanking you,
C H Mahadevan
Executive Director(LIC)(Retd)
Mob 9849314013
Chennai
6 comments:
https://www.youtube.com/watch?v=8tDIUX82G9Y
Iran VP Slams China: Overpriced Junk Cars And Useless Air Defense Systems 26 August 2026 #chinaobserver 135 Comments @Gw2kitty 2 hours ago
PM India Jawaharlal Nehru said "... there are not many instances in history where one country... has gone out of her way to be friendly and co-operative with the Chinese Government and people... and then for the Chinese Government to return evil for good and even go to the extent of committing aggression..."
@SamiKotiranta 2 hours ago I wouldn't drive Chinese car even if I was payed to do so. There's a reason why Chinese themselves call made in China cars "coffins on wheels"... TRnscripts The US Iran war has entered a new phase of economic pressure and Iran's government has suddenly turned its criticism toward Beijing. During prime
0:099 secondstime on Iran's state television on August 16th, Iranian Vice President Ismael Sagab Esvahani criticized Chinese
0:1616 secondsassembled cars, saying that whenever Iran has turned to imports, it has relied on lowquality and fuel consuming Chinese vehicles with some even worse
0:2525 secondsthan domestic cars. He added that imported complete Japanese vehicles would have been cheaper. He described Iran's domestic auto industry as a
0:3333 seconds60-year-old baby. The remark was harsh, but the frustration in Beijing is that he was telling the truth. A Sherry Tigo
0:4141 seconds8 Pro Max that sells for 150,000 yen in China can cost nearly 340,000 yen or
0:4747 secondsabout $50,000 in Iran. After logistics costs, tariffs, exchange rates, assembly expenses, and sanctions risks, the final burden falls on consumers.
0:5959 secondsWhat has caused even more dissatisfaction among car owners is quality and after sale service. Many Chinese cars in Iran use a model where
1:071 minute, 7 secondsparts are imported and vehicles are assembled locally. Assembly standards, transportation of components, and supply chain stability can all affect the final
1:161 minute, 16 secondsquality. Once problems occur with transmissions, electronic systems, or body components, missing parts, long waits for replacements, and lengthy
1:251 minute, 25 secondsrepairs can quickly exhaust owner's patience. Iranian media previously reported problems including limited service networks, expensive and hard to
1:341 minute, 34 secondsfind parts, and difficulties telling genuine parts from counterfeits. Recent local reports have also said some owners
1:411 minute, 41 secondsexperienced issues such as abnormal noises inside vehicles and transmission failures before driving 30,000 km. An
1:491 minute, 49 secondsIranian car salesperson once said in an interview, "Iranian people don't like Chinese."
1:561 minute, 56 secondsIranians don't like Chinese cars. While the Iranians would never buy Chinese cars, they hate Chinese cars. Sagab
2:032 minutes, 3 secondsEsahani is mainly responsible for the energy sector and is not directly involved in the auto industry. His decision to step forward and criticize
2:122 minutes, 12 secondsChinese cars is significant because relations between Iran and China have begun to shift amid the ongoing US Iran
2:182 minutes, 18 secondsconflict. Iran's most valued leverage, the straight of hormuz has not produced the impact tyrron expected. Oil prices
didn't surge to $200 a barrel. Global markets didn't panic and the United States was not thrown into chaos. Some
2:342 minutes, 34 secondsin Thyron have become frustrated and started looking for someone to blame.
2:382 minutes, 38 secondsTheir attention has now turned towards communist China. The Corusan Daily, a newspaper with close ties to Iranian
2:462 minutes, 46 secondsparliamentary speaker Muhammad Ber Galibbof, recently questioned whether China's sharp reduction in Iranian oil purchases were intended to neutralize
2:552 minutes, 55 secondsTyrron's biggest economic weapon or simply to avoid war risks. The issue has triggered fierce debate inside Iran.
3:033 minutes, 3 secondsIran's hardliners, especially those linked to the Iranian revolutionary guard corps, have relied on the Strait of Hormuz for decades and are accustomed
3:113 minutes, 11 secondsto using the threat of blockades to pressure the world. They believed that if the strait was shut down, oil prices would break above $200 a barrel and the
3:203 minutes, 20 secondsWest would eventually give in. But after more than half a year of conflict, Brent crude only briefly approached around
3:273 minutes, 27 seconds$120 a barrel. Unwilling to admit that this strategy has lost its impact, hardliners have shifted the blame to
3:343 minutes, 34 secondsBeijing, saying the problem was not their strategy, but that communist China failed to provide enough support. In
3:413 minutes, 41 secondsreality, the reason hardliners are so angry is not because China did too little. It is because Beijing itself has been struggling under enormous pressure
3:503 minutes, 50 secondsfrom Washington. Iranian oil is expensive, shipping costs are high, and risks have increased. China's shadow
3:583 minutes, 58 secondsfleet has repeatedly faced interception by the US military, making Iranian oil imports an increasingly heavy economic burden for Beijing. Data shows that
4:074 minutes, 7 secondsChina's daily oil imports from the Middle East once fell to their lowest level in nearly a decade. Refineries in Shandong and other regions even reduced
4:154 minutes, 15 secondsoperating rates to cope with the high prices. In the first half of 2026, China's crude oil imports fell by about
4:224 minutes, 22 secondsa third. The International Energy Agency estimated that in June 2026, China drew 41 million barrels from crude oil
4:304 minutes, 30 secondsinventories, marking the largest monthly decline on record. Now, the pressure has reached Iran's hardliners. Food prices
4:384 minutes, 38 secondsin Iran rose 134% year-over-year in July, while overall inflation reached 84%. Inflation and supply chain problems
4:474 minutes, 47 secondscontinue to worsen. The strategy of choking the straight of Hormuz and forcing the world to surrender is becoming less effective. Iranian
4:564 minutes, 56 secondsPresident Masud Proescian recently said publicly that the economy and people's livelihoods are the most important
5:025 minutes, 2 secondsbattlefields at the moment. On August 24th, the United States imposed unprecedented economic sanctions on
5:095 minutes, 9 secondsIran. Citing multiple anonymous US officials, Axios reported that the sanctions are expected to remain in place at least until the US midterm
5:185 minutes, 18 secondselections in November. One US official said Iran's economic system was originally designed to protect the elite. But the most alarming development
5:275 minutes, 27 secondsnow is that even those elite are seeing their purchasing power collapse. Some of them are experiencing for the first time in their lives situations where salaries are not paid on time.
US officials said that the American maritime blockade has already cut off most of Iran's oil exports, effectively removing the lifeline of Iran's economy.
5:475 minutes, 47 secondsIran is now trying to establish alternative transportation routes by land and sea. But those efforts have repeatedly run into obstacles. On August
5:565 minutes, 56 seconds24th, US Central Command also released an update on the blockade of Iranian ports. Video released by the US military
6:036 minutes, 3 secondsshowed forces aboard the aircraft carrier USS George HW Bush carrying out aroundthe-clock operations with multiple
6:116 minutes, 11 secondsUS aircraft flying overhead. The military said it remains on high alert in the region 24 hours a day and is
6:186 minutes, 18 secondsfully prepared. As of August 24th, the US military had redirected 71 commercial vehicles, destroyed three ships that
6:266 minutes, 26 secondsviolated orders, and boarded two vessels for inspection to ensure the blockade remained effective. At the same time,
6:336 minutes, 33 secondsmore than 40 ships carrying humanitarian aid supplies were allowed to pass through the strait. Responding to questions over whether US military
6:416 minutes, 41 secondsoperations could be paused because of the midterm elections and budget pressures, US Secretary of Defense Pete Hgse rejected the idea, saying the
6:506 minutes, 50 secondsmilitary would continue to use force if necessary. He said, "If Iran is foolish enough to overplay its hand or mess with
6:576 minutes, 57 secondsthe American military, we'll do what we need to do." Hexath also said that the current US economic pressure campaign
7:047 minutes, 4 secondshas delivered the heaviest blow to Iran, but he emphasized that this does not mean Washington has abandoned the option of military strikes in the street of
7:127 minutes, 12 secondsHormuz or around Iran. Behind the maximum pressure campaign, the US State Department has also announced a major initiative called the rewards for
7:217 minutes, 21 secondsjustice program. It is offering rewards of up to10 million US for key information on several senior commanders
7:287 minutes, 28 secondsof Iran's Islamic Revolutionary Guard Corps or IRGC.
7:337 minutes, 33 secondsAccording to the State Department's reward notices, the five individuals include top commanders overseeing naval,
7:397 minutes, 39 secondsground, air, strategic coordination, cyber operations, and military intelligence. They are accused of
7:467 minutes, 46 secondsdirecting key IRGC units and planning and carrying out terrorist activities around the world. The deeper reason
7:547 minutes, 54 secondsbehind the Iranian criticism of Chinese cars is also believed to reflect growing frustration over years of damage caused
8:018 minutes, 1 secondby poor quality Chinese products, which some blame for weakening Iran during the war. Just months ago, Iran's air defense
8:098 minutes, 9 secondsnetwork was severely disrupted by Israeli and US electronic warfare operations and stealth aircraft strikes.
8:178 minutes, 17 secondsChina's JY26 longrange radar and HQ9B air defense system appeared ineffective in actual combat. It was promoted by Beijing as a stealth aircraft carrier.
8:298 minutes, 29 secondsThe systems remained largely silent even as strikes hit locations including the residents of Iran Supreme Leader
8:358 minutes, 35 secondsAyatollah Ali Kamee. The conflict was not only a defeat for Iran, but also a major test of China's claims about its ability to counter stealth technology.
Since the 1979 Sino Vietnam War, the Chinese Communist Party's military has gone more than 40 years without major
8:538 minutes, 53 secondsbattlefield experience. Many of its weapons have been promoted through scripted exercises and self-reinforcing
9:009 minutesclaims. By contrast, the US military and Israel have continued improving stealth technology and electronic warfare
9:079 minutes, 7 secondssystems through repeated regional conflicts. In this year's military operation against Venezuela and the precision strikes on Tyrron, China
9:169 minutes, 16 secondssystems faced serious tests. In recent years, the Chinese Communist Party has focused heavily on increasing weapons
9:239 minutes, 23 secondsproduction and expanding arms exports, but it has struggled to improve system integration and software capabilities.
9:309 minutes, 30 secondsIran's air defense network, which is a combination of Chinese, Russian, and domestic equipment, quickly lost its ability to operate as a coordinated
9:389 minutes, 38 secondssystem during wartime. The most notable example came early in the year when Iran reportedly launched a massive missile
9:459 minutes, 45 secondsstrike against the USS Abraham Lincoln carrier strike group. Iran fired a total of 101 missiles, but all were
9:529 minutes, 52 secondsintercepted and destroyed by US defense systems, leaving the carrier unharmed.
9:589 minutes, 58 secondsThe US military said that not a single missile got through and the carrier continued aircraft takeoff and landing operations even during the attack.
10:0610 minutes, 6 secondsAccording to multiple sources, Iran may have used 50 Chineseup supplied CM302 supersonic anti-hship missiles during
10:1410 minutes, 14 secondsthe strike. The missiles were reportedly delivered to Iran by Beijing through Pakistan, but ultimately failed to cause any damage to the US forces. It is
10:2310 minutes, 23 secondsbelieved that after the failed strike, Chinese leader Xi Jinping was furious and immediately ordered the detention of top experts at the Chinese Academy of
10:3110 minutes, 31 secondsEngineering, including radar and missile specialists Wu Maning, Xiaoiang Gong, and Wei Yiing. Investigations were
10:3910 minutes, 39 secondslaunched into allegations that the experts may have falsified information, misused large amounts of funding, and
10:4610 minutes, 46 secondsdeceived senior leadership. Observers say Iran may have hoped the operation would make history, but instead the
10:5310 minutes, 53 secondsfailure to damage the USS Abraham Lincoln, and the destruction of more than 100 missiles turned Iran into a target of ridicule. The incident has
11:0211 minutes, 2 secondsalso left the Iranian military deeply disappointed and angry over the poor performance of Chinese missiles. Beyond automobiles and military equipment,
11:1011 minutes, 10 secondsother Chinese consumer products also have a poor reputation in Iran. Among Thrron's middle class and intellectual circles, Chinese manufacturing has long received low evaluations.
11:2111 minutes, 21 secondsChinese cars, electronics, and even China itself are often associated with a low-end image. Iranians tend to prefer
11:3011 minutes, 30 secondsJapanese, South Korean, and Western brands for electronic products. And when Chinese-made goods are mentioned, the first words that come to mind are still
11:3811 minutes, 38 secondscheap, ordinary, and average quality. In addition, Beijing has long provided Iran with large quantities of physical and
11:4611 minutes, 46 secondsdigital surveillance equipment, helping the Iranian government suppress domestic protests, censor the internet, and replicate China's great firewall model.
11:5511 minutes, 55 secondsHuawei and ZTE have mainly provided telecommunications infrastructure, helping Iran strengthen internet censorship, data interception, and
12:0412 minutes, 4 secondsnetwork surveillance. Hickvision, Tandi, and Univview have exported large numbers of surveillance cameras with facial
12:1212 minutes, 12 secondsrecognition and night vision capabilities to Iran. These systems have been widely deployed on Iranian streets to identify women not wearing
12:2012 minutes, 20 secondsheadscarves and protesters involved in demonstrations.
12:2412 minutes, 24 secondsHowever, since 2026, security concerns surrounding Chinese-made surveillance systems in Iran have become a focus of
12:3112 minutes, 31 secondsinternational attention. Reports and videos circulating on social media claim that large numbers of Chinese branded surveillance cameras were hacked by
12:3912 minutes, 39 secondsWestern or Israeli hackers exposing the movements and political officials. After the killing of Kame, many observers
12:4712 minutes, 47 secondsbelieved the infiltration of Chinese surveillance systems was one key factor behind the incident. Experts have questioned whether Iran's expensive
12:5512 minutes, 55 secondspurchases of Chinese surveillance networks have instead became intelligence vulnerabilities. Online reports claimed that Hickvision faced
13:0413 minutes, 4 secondsinvestigations involving serious security flaws or alleged espionage concerns leading to hundreds of employees being investigated. The
13:1213 minutes, 12 secondscontroversy has further damaged the reputation of Beijing and its surveillance technology. Finally, returning to the issue of Chinese cars,
13:1913 minutes, 19 secondswhy did the Iranian vice president choose this topic to criticize? The reality is that Iran turned to Chinese vehicles out of necessity. Today,
13:2813 minutes, 28 secondswithout Chinese cars, many Iranians might not be able to get access to new foreign vehicles. It all began in 2018 when the United States reimposed
13:3713 minutes, 37 secondssanctions. Major European, American, and South Korean automakers collectively left Iran. While even fuelefficient
13:4513 minutes, 45 secondsJapanese brands avoided the Iranian market due to fears of secondary sanctions, Chinese automakers finally found an opening and quickly entered the
13:5413 minutes, 54 secondsmarket through knockdown assembly models. In simple terms, vehicles were shipped as separate parts and assembled at local factories. By 2025, Chinese
14:0314 minutes, 3 secondsbrands had captured about 19.7% of Iran's passenger vehicle market, becoming the largest foreign brand group
14:1014 minutes, 10 secondsin the country. Iranian consumers were left with only three choices: Chinese assembled cars, fuel-thirsty domestic
14:1714 minutes, 17 secondsvehicles, or used cars that were more than a decade old. This negative reputation is not limited to Iran. In
14:2414 minutes, 24 secondsthe UAE, Chinese car brands have entered the market in large numbers in recent years, but local repair businesses still list part supply, electronic failures,
14:3314 minutes, 33 secondsand high temperature durability as major concerns. Some mechanics say certain models have experienced sensor failures,
14:4014 minutes, 40 secondsinfotainment system problems, camera malfunctions, and faster aging of rubber components, interiors, and cooling
14:4714 minutes, 47 secondssystems under extreme heat. Even a minor problem can turn into a wait of several weeks if replacement parts are
14:5414 minutes, 54 secondsunavailable locally among Saudi Arabian car owners. Common complaints also include difficulty finding parts, long repair times, and low resale value.
15:0415 minutes, 4 secondsRussia is another typical example. After Western automakers withdrew, Chinese brands quickly filled the gap. But Russian automotive media reports found
that consumers have complained about Sherry vehicles being difficult to repair with limited and expensive parts.
15:1915 minutes, 19 secondsHavl has faced criticism over rust protection and fuel consumption. While some Gily owners have raised concerns about warranty services and fuel
15:2715 minutes, 27 secondsefficiency. Some earlier Sherry models were also criticized for rust problems, poor interior materials, and weak assembly quality. In Europe, these
15:3615 minutes, 36 secondsissues have been exposed directly through safety testing. In 2024, EuroNCAP rated the BYYD Auto 3's highway
15:4415 minutes, 44 secondsassist system as not recommended, citing insufficient driver monitoring and inadequate system response when drivers failed to react. BYYD later made
15:5315 minutes, 53 secondsimprovements. In 2025, SIC's MG3 also faced a rare seat locking mechanism failure during crash testing. The driver
16:0116 minutes, 1 secondseat twisted during impact, creating a serious risk to occupants. Analysts say that while Chinese cars do have quality problems, the Iranian vice president's
16:1016 minutes, 10 secondscriticism is not simply a personal complaint or just an economic issue. The current debate inside Iran over Chinese products is fundamentally a struggle
16:1916 minutes, 19 secondsbetween hardliners and those seeking negotiations. Hardliners want to use the straight of Hormuz as leverage while those favoring dialogue need to show
16:2716 minutes, 27 secondsthat this strategy has lost its effectiveness in order to create room for negotiations. Now, China, which has long operated behind the scenes, have
16:3516 minutes, 35 secondsbeen pushed into the center of the debate. Science suggests that if Iran's hardline leadership eventually loses power or is eliminated, China could be
16:4216 minutes, 42 secondsamong the first partners to be abandoned. The next targets of Iranian criticism may not only be Chinese cars, but also products from Huawei, ZTE,
16:5216 minutes, 52 secondsHickvision, and even the Chinese political system itself.
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