Cash-starved IL&FS may get a helping hand from Life Insurance Corporation of India (LIC) in the form of a loan in the range of Rs 700-800 crore. The infrastructure finance company has to meet certain criteria to avail the loan.

The insurance company has asked IL&FS to give out the clear roadmap on the debt reduction strategy and the details of the assets that they are planning to sell, said people familiar with the matter.

IL&FS board is expected to meet on Saturday to discuss Rs 3,000 crore fund-raising plan and measures to tackle financial troubles.

First Published:Sept 14, 2018 10:20 PM IST