Life Insurance Corporation of India has informed the Exchange regarding Outcome of Board Meeting held on July 11, 2025.
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LIC's Board, at its meeting on July 11, 2025, approved the appointment of M/s Mukund M. Chitale & Co. as the Corporation's Statutory Auditor and M/s S.N. Ananthasubramanian & Co. as Secretarial Auditor. Both appointments are for five consecutive financial years, from FY 2025-26 to FY 2029-30. The recommendations are subject to shareholder approval at the upcoming AGM scheduled for August 26, 2025. Mukund M. Chitale & Co. is a Mumbai-based firm with 51 years of experience and around 200 professionals, while S.N. Ananthasubramanian & Co. is a peer-reviewed firm of company secretaries established in 1991 with over three decades of experience.
This is a routine governance update with no material impact on the stock. The appointment of experienced audit firms for a full 5-year term signals continuity and stability in LIC's audit and compliance functions, pending shareholder approval.