We will not allow contagion to spread from IL&FS... All options are open (including raising stake in the company),” LIC chairman V.K. We will not allow contagion to spread from IL&FS... All options are open (including raising stake in the company) V.K. Earlier this month, IL&FS and its subsidiary, IL&FS Financial Services, also delayed payments on ICDs and commercial papers, instruments that mature in less than a year. Additionally, IL&FS Financial Services has about $500 million in repayments, which are due in the second half of this financial year, while it has only about $27 million available. The RBI will meet the shareholders of IL&FS on Friday as the group continues to default on its debt obligations.

Source: The Telegraph September 25, 2018 22:18 UTC