Financially strained unlisted holding company IL&FS has sought the Central government's support to avert a looming default crisis. : Financially strained unlisted holding company IL&FS has sought the Central government's support to avert a looming default crisis. Reports appearing on Monday said that the Finance Ministry was approached after the IL&FS' key stakeholder, the state-run Life Insurance Corporation and others rejected a Rs 30 billion loan facility. According to reports, the company requires this amount to avert default on its Commercial Paper (CP) obligations and a ALSO ratings downgrade.