Chennai: Criticising the LIC’s filing of Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), Chief Minister M K Stalin has said that the move is undesirable and targeted the Centre for its ‘selling spree’.

Taking to Twitter, Stalin said, ‘LIC over the years has catered to the needs of crores of Indians, earned their trust and has provided social security with its efficient functioning.’

He added that the Centre’s act of filing DRHP with SEBI to sell 5% of its stakes is an undesirable move and undoubtedly a move towards privatisation. He mentioned that the decision is not in the interest of people or the organisation.

According to Stalin, ‘An ideal government shall build institutions instead of involving itself in a selling spree. I urge the Union Govt to roll-back this ill-thought-out decision and save LIC India’.

These tweets from Stalin have come close on the heels of him saying Chief Ministers of opposition-ruled States will soon meet in Delhi to discuss the ‘Constitutional overstepping and brazen misuse of power by the Governors’.

In a tweet, Stalin said, ‘Beloved Didi @MamataOfficial telephoned me to share her concern and anguish on the Constitutional overstepping and brazen misuse of power by the Governors of non-BJP ruled states. She suggested for a meeting of Opposition CMs.’

He added: ‘I assured her of DMK’s commitment to uphold State autonomy. Convention of Opposition CMs will soon happen out of Delhi!’