TATA Group has approached Citigroup for assistance in getting funds for Jaguar and Land Rover acquisition from the British government. The company has requested British Government for about one billion pound funds to bail out JLR and secure the future of its employees.

TATA reported significant decline in Land Rover sales following low demand due to international financial crisis. The American bank Citigroup was also the advisor in the $2.3 billion JLR acquisition case.

A Tata Motors spokesperson said, "It is a well known fact that the UK Society of Motor Manufacturers and Traders along with JLR are in talks with the government in the light of health of the auto industry and liquidity crisis." However, he declined to respond directly on the issue.

Meanwhile, the recent report of Sunday Times also confirmed CitiGroup's assistance for TATA on fund raising. Discussions between officials and advisers on both sides are expected to resume this week, as Tata seeks a short-term bridging loan to help it with cash flow problems.

About government's nod to release funds for TATA, the Newspaper further stated, "Sources close to Tata, however, believe the government is close to approving a 500 million pound bridging loan."