Maharastra , 23 Oct : Before the AGM, the company held its 4th Board Meeting , which was attended by all the Board Members , namely Mr T S Vijayan, Mr Jagdish Capoor, Mr A K Dasgupta, Mr Shailesh Haribhakti, Mr M N Singh and Dr H Sadhak.
The Board reviewed with satisfaction the progress of the company including regulatory Compliance, Risk Management , Corporate Governance, progress in business development, Internal Audit and the Annual accounts 2007-08.
The First Annual General Meeting of the Company was attended by all the shareholders including Mr D.K Mehrotra, MD, LIC, Mr N Mohanraj, ED (Inv), LIC and all the Directors of the Company.
Shri T S Vijayan, Chairman of the company, in his address to the Shareholders briefed the several achievements and satisfactory progress in terms of setting up a well designed internal management system, business development initiatives etc. He expressed confidence in the strength of LIC Pension Fund and visualized a bigger role in the Pension market. He also thanked all the stakeholders including the regulator PFRDA for all the support
While welcoming the Shareholders the CEO of the Company Dr H Sadhak informed that LIC Pension Fund has been managing its entire operation fully independently from its own corporate office and complied with all regulatory requirements. He informed that the company has performed excellently, particularly in terms investment management. He further informed that the several State Governments are in the process of Selecting LIC Pension Fund as the Fund Manager. Expressing his optimism, he said that the New Pension System is going to bring a significant change in the Indian Financial Markets, and LIC Pension Fund is well prepared to capitalize the emerging opportunities in the Pension market.