Tax authorities have further sent two demand notices worth Rs 3,529 crore to LIC.The company will buy a 26 per cent stake in Amplus Ages for Rs 49 crore to meet its green energy needs and comply with regulatory requirements for captive power consumption. Its subsidiary Tata Power Renewable Energy has signed a MoU with the Gujarat govt to develop 10,000 MW of renewable energy power projects in the state with up to an investment of Rs 70,000 crore.
LIC faces tax demands of Rs 3,529 crore, while Tata Power Renewable Energy plans to invest Rs 70,000 crore in Gujarat for renewable energy projects.