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Insurance behemoth Life Insurance Corporation (LIC) on Tuesday assured that it would do all it can to prevent the collapse of beleaguered IL&FS, which has now begun to implode and started to renege on several of its repayment obligations.
All options, including increasing the equity holding in IL&FS, are open, LIC Chairman told reporters here. As on date, LIC has over 25 per cent stake in IL&FS, which is now facing a Lehman like moment.
IL&FS turmoil has sent shockwaves across financial markets and the consequent liquidity concerns have led to the hammering down of several frontline NBFC and bank stocks.
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