Amid on-going boardroom battle at Tata Group, Finance Ministry has asked financial institutions including LIC and banks to keep a watch on developments to safeguard the interest of investors. Life Insurance Corporation of India alone has an exposure of about Rs 37,500 crore to different Tata Group companies. In Tata Power, LIC owns 13.1% stake, 7.13% in Tata Motors, 8.8% in Indian Hotels and 9.8% in Tata Global Beverages. His family firm Shapoorji Pallonji Group has 18.4% in Tata Sons. As much as 66% shares in Tata Sons are held by philanthropic trusts endowed by members of the Tata family.

Source: dna November 06, 2016 09:33 UTC