LIC to conduct internal enquiry into housing scam

Thursday, 25 November 2010, 21:26 IST
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New Delhi: LIC today said it will consider an internal enquiry at the company regarding arrest of its senior officers in connection with a multi-crore housing scam. While asserting that there was no systemic failure in the company, LIC Chairman T S Vijayan told CNBC TV 18, "We are trying to have an internal enquiry into this matter. Our asset quality has not been impaired." Yesterday, the Central Bureau of Investigation (CBI) had arrested the CEO of LIC Housing Finance, Ramachandran Nair, LIC Secretary (Investment) Naresh K Chopra and six other senior bankers in connection with a housing-finance racket. The official (Naresh K Chopra) has been with the LIC Investment department for two years.
Source: PTI
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