LIC Reopens Operations at Mauritius Branch

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Following the passage of Cyclone Belal, the Life Insurance Corporation of India (LIC) has resumed its operations at its Mauritius branch effective January 17, 2024.

LIC encountered income tax litigation from the Assistant Commissioner of Income Tax, Mumbai, regarding a financial claim amounting to ₹1,370.60 crore. In response, the corporation intends to file an appeal before the Commissioner (Appeals), Mumbai, contesting the orders issued.

As of 12:35 pm, the LIC stock traded at ₹900.40 on the National Stock Exchange (NSE), marking a 0.88 percent increase.