"The company had received an email dated July 12, 2021 from, BSE Ltd and National Stock Exchange of India Ltd seeking clarifications on compliance with the provisions of Articles of Association (AOA) of the company regarding the process arrived for the valuation at which the said equity shares are offered to LIC," they said. "The company had provided the clarification that there is no violation of the provisions of AOA as the price has been duly determined in accordance with the relevant provisions of the AOA as well as the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018," the sources said, adding that LIC Housing had informed the bourses. LIC Housing reported an 81 per cent decline in its standalone net profit at Rs 153.44 crore in the first quarter of FY22 ending June due to increased provisioning for non-performing loans.