 "LIC, Life Insurance Corporation")
The Life Insurance Corporation of India was barely a year old when it faced what was perhaps independent India’s first financial scandal.
It involved the finance ministry and a canny industrialist, and details were eventually brought into the limelight by Jawaharlal Nehru’s crusading son-in-law.
Feroze Gandhi had married Indira after a proposal in Europe accepted as she later wrote, ‘on the steps of the (Basilica) of Sacré-Coeur’ at the end of summer while ‘Paris bathed in soft sunshine.’ The relationship with his father-in-law was said to be less than pleasant. The marriage too was fated to be an unhappy one.
