Independent Directors Shri Mahalingam G and Dr V S Parthasarathy Cease Positions at Life Insurance Corporation Of India
Shri Mahalingam G. and Dr. V. S. Parthasarathy have ceased to hold the positions of Independent Directors at the Life Insurance Corporation of India (LIC), effective July 28, 2026, upon completion of their term. The cessation means both directors also concluded their roles as chairperson or member of various corporate committees within LIC.The change in leadership involves several key committees critical to the corporation's operations and governance structure.
A detailed breakdown of the committees where Shri Mahalingam G. and Dr. V. S. Parthasarathy ceased their roles is provided below:
| Name of Committee | Shri Mahalingam G | Dr. V. S. Parthasarathy |
|---|---|---|
| Executive Committee | Yes | |
| Investment Committee | Yes | Yes |
| Nomination and Remuneration Committee | Yes* | Yes |
| Risk Management Committee | Yes* | Yes |
| Audit Committee | Yes | **Yes |
| Policyholder Protection, Grievance Redressal and Claims Monitoring Committee | **Yes | |
| Stakeholders Relationship Committee | Yes* | |
| Committee for Review of Wilful Defaulters | Yes | Yes |
| Building Advisory Committee | Yes | |
| With Profit Committee | Yes | |
| Information Technology Strategy Committee | Yes | Yes |
| Environment, Social & Governance Committee | Yes | **Yes |
As noted in the records, Shri Mahalingam G. held positions on the Nomination and Remuneration Committee, Risk Management Committee, and Stakeholders Relationship Committee. Dr. V. S. Parthasarathy was a designated chairperson for the Audit Committee, Policyholder Protection, Grievance Redressal and Claims Monitoring Committee, and Environment, Social & Governance Committee.
Details of Director Cessation
The cessation of both independent directors on July 28, 2026, followed the completion of their terms with the corporation. The details provided for each director confirm the circumstances of the change:Shri Mahalingam G.
- Reason for change: Cessation as Independent Director upon completion of term.
- Date of cessation and term end: July 28, 2026, after close of day.
Dr. V. S. Parthasarathy
- Reason for change: Cessation as Independent Director upon completion of term.
- Date of cessation and term end: July 28, 2026, after close of day.
LICI Stock Price Movement
Life Insurance Corporation Of India shares today edged higher to settle at ₹427.15, marking a solid 0.75% gain. The stock traded on a volume of 2,063,111 shares during the session, staying within its intraday range of ₹422.85 to ₹428.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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