Amid on-going boardroom battle at Tata Group, the finance ministry has asked financial institutions, including Life Insurance Corporation of India and banks, to keep a watch on developments to safeguard the interest of investors. Since LIC as well as banks have invested depositors’ money in various companies under Tata Sons, it is their duty to see that public money is not put at risk, finance ministry sources said. Safeguarding depositors’ interest is paramount, they said, adding that as investors, banks and financial institutions are keeping a close watch on various developments taking place post the ouster of Cyrus Mistry as chairman of Tata Sons.

http://business-standard.com/article/companies/finmin-asks-banks-lic-to-keep-watch-on-tata-group-developments-116110700037_1.html

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