Won't Allow Beleaguered IL&FS To Collapse, Says Life Insurance Corporation
NEW DELHI: The largest state-run insurer, Life Insurance Corporation (LIC), will not allow the country's beleaguered Infrastructure Leasing & Financial Services (IL&FS) to collapse, LIC Chairman VK Sharma told reporters on Tuesday.
All options, including increasing LIC's stake in IL&FS, are open, Sharma said.
IL&FS has revealed a series of delays and defaults on its debt obligations and inter-corporate deposits in recent days.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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