Jaiprakash Associates discloses default on loan repayments
Jaiprakash Associates Limited (JPASSOCIAT) has disclosed defaults on payments of interest and principal amounts on loans from banks and financial institutions, according to a regulatory filing on March 5, 2025. The disclosure, made under SEBI guidelines, reveals total outstanding borrowings from banks and financial institutions reaching INR 55,493.43 Crores as of February 20, 2025. The company is currently undergoing a corporate insolvency resolution process, initiated by an order from the National Company Law Tribunal (NCLT) on June 3, 2024. The resolution professional is Bhuvan Madan. The defaults pertain to term loans, WCTL and FITL facilities. Lenders include Axis Bank, Bank of Maharashtra, Bank of India and several other major financial institutions.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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