NewsLIC Appoints Shri Sanjay Lohiya as Government Nominee Director, Ms. Shalini Pandit Ceases RoleLIC Appoints Shri Sanjay Lohiya as Government Nominee Director, Ms. Shalini Pandit Ceases Role
Life Insurance Corporation of India appointed Shri Sanjay Lohiya (DIN: 07151125), a 1994-batch IAS officer and Special Secretary at the Department of Financial Services, as Government Nominee Director effective May 13, 2026, replacing Ms. Shalini Pandit (DIN: 07780142), who simultaneously ceased her role and all related Board committee memberships including the Audit, Risk Management, Executive, and Nomination & Remuneration Committees.
*this image is generated using AI for illustrative purposes only.
Life Insurance Corporation of India has disclosed a change in its Board of Directors following a Central Government notification. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Corporation informed the stock exchanges on May 13, 2026, that the Central Government, vide Notification No. eF. No. 6/2(vi)/2022-BO.I dated May 13, 2026, has nominated Shri Sanjay Lohiya as Government Nominee Director on its Board, in place of Ms. Shalini Pandit.
Board-Level Change at LIC
The appointment of Shri Sanjay Lohiya takes effect from May 13, 2026, and remains valid until further orders. The change has been effected in terms of powers conferred under Section 4(2)(d) of the Life Insurance Corporation Act, 1956. The key details of both the appointment and cessation are summarised below.
Appointment of Shri Sanjay Lohiya
| Parameter: | Details |
|---|---|
| Name: | Shri Sanjay Lohiya |
| DIN: | 07151125 |
| Designation: | Government Nominee Director |
| Current Role: | Special Secretary, Department of Financial Services, Ministry of Finance |
| Effective Date: | May 13, 2026 |
| Term: | Until further orders |
| Related to Other Directors: | No |
| Debarred by SEBI or any authority: | No |
Cessation of Ms. Shalini Pandit
| Parameter: | Details |
|---|---|
| Name: | Ms. Shalini Pandit |
| DIN: | 07780142 |
| Designation: | Government Nominee Director |
| Previous Role: | Joint Secretary, Department of Financial Services, Ministry of Finance |
| Cessation Date: | May 13, 2026 |
| Reason: | Cessation as per Notification No. eF. No. 6/2(vi)/2022-BO.I dated May 13, 2026, issued by Government of India |
Profile of Incoming Director
Shri Sanjay Lohiya is an IAS Officer of the 1994 batch belonging to the Assam Meghalaya cadre. He has joined as Special Secretary, Department of Financial Services, Ministry of Finance. Prior to this role, he served as Additional Secretary in the Ministry of Mines. He joined the Indian Administrative Service after graduating from St. Stephen's College, Delhi University.
During his career, Shri Lohiya has held several notable positions, including:
- Principal Secretary to Chief Minister, Government of Assam
- Joint Secretary, Ministry of Agriculture
- Director, Prime Minister's Office (PMO)
- Additional Secretary, Ministry of Mines
During his tenure at the Ministry of Mines, he implemented a number of reforms in the mining sector, focusing on expediting exploration coverage, promoting private sector participation in exploration, fast-tracking auction of mineral concessions, and promoting ease of doing business in the mining sector. He was also assigned duties for the post of Chairman-cum-Managing Director, NALCO from 02.11.2024 to 08.01.2025.
Committee Memberships Affected
Consequent to Ms. Shalini Pandit's cessation as Government Nominee Director with effect from May 13, 2026, she also ceased to be a member of the following Board committees:
- Executive Committee
- Nomination & Remuneration Committee
- Audit Committee
- Risk Management Committee
The disclosure was filed by Anshul Kumar Singh, Company Secretary & Compliance Officer of Life Insurance Corporation of India, and a copy of the intimation has been made available on the Corporation's website at www.licindia.in .
Historical Stock Returns for LIC of India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.51% | -2.22% | -1.78% | -8.27% | -16.84% | -9.98% |
How might Shri Sanjay Lohiya's background in mining sector reforms and private sector participation influence LIC's investment strategy in infrastructure and natural resources?
Will Shri Lohiya's close ties to the Ministry of Finance accelerate any pending regulatory or policy changes affecting LIC's operations, such as privatization discussions or capital deployment mandates?
How could the transition in committee memberships — particularly in the Audit and Risk Management Committees — impact LIC's ongoing governance initiatives or pending financial decisions?
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