Tata Group-owned British car maker Jaguar Land Rover (JLR) has entered into the advanced stages of talks with the British government and banks on a loan of £800 million (Rs 5,840 crore), which could help the company on stream and save 15,000 jobs.

According to reports, talks were at a delicate stage and depended upon whether the Midlands-based car manufacturer could give enough security to the administration and a syndicate led by Royal Bank of Scotland and Lloyds for the loans needed.

The reports added that Tata is understood to have agreed technically to make investment of another 100 million pounds together with the refinancing.

The administration has asked the company to provide security in return for assuring repayment of a 340 million pounds loan from the European Investment Bank (EIB).

Directors of the EIB sanctioned the loan during the last week but the funds cannot be given to Jaguar until the required conditions of the state underwriting are prepared.

Tata purchased Jaguar Land Rover from Ford in June 2008 for 1.15 billion pounds.

At that time, the group was money-making but sales broke up as the banking crisis intensified.

In March, Jaguar sales also remained weak, and slumped 30% as against the corresponding period of the last year, while Land Rover sales were down 37%.