LIC Nominates Siddhartha Mohanty to the L&T Board

The Board of Directors of Larsen & Toubro Limited has approved the appointment of Siddhartha Mohanty as a Director of the Company with effect from May 28, 2024, representing the equity interest of Life Insurance Corporation of India (LIC). Mohanty has been nominated by LIC in place of Hemant Bhargava, who shall cease to be a Director of the company on account of the withdrawal of his nomination by LIC with effect from May 27, 2024.

Siddhartha Mohanty is Chairperson of the LIC of India. He joined LIC as a direct recruit officer in 1985. During his tenure of almost four decades, he has gained 360-degree knowledge and experience in every domain of life insurance. He has worked in the Marketing, HR, Legal and investment domains within LIC. He has served as the Executive Director (Legal) and CEO of LIC Housing Finance. Immediately before becoming Chairperson, he worked as MD of the LIC of India. He chairs the Boards of various national and international subsidiaries and associate companies. In addition, he is the Chairperson of the Council of Insurance Ombudsman, Chairman of the Governing Board of the National Insurance Academy, and a member of the Council of the Institute of Actuaries of India. He is a postgraduate in political science, with a bachelor’s degree in law and a postgraduate certification in business management.