Jaiprakash associates reports august defaults on bank loans

Jaiprakash Associates Limited (JAL) has disclosed defaults on interest and principal repayments for loans from banks and financial institutions, as mandated by SEBI. The disclosure, dated September 6, 2025, covers the period up to August 2025, indicating that the company is currently under a corporate insolvency resolution process (CIRP) initiated by an NCLT order on June 3, 2024.

The total outstanding borrowings from banks and financial institutions amount to INR 55,371.21 crores as of August 15, 2025. This figure also represents the total financial indebtedness of the listed entity, encompassing both short-term and long-term debt on a provisional basis. Lenders include NARCL, Axis Bank, Bank of Maharashtra, Canara Bank, and ICICI Bank, among others.

JAL was admitted into CIRP with Bhuvan Madan appointed as the resolution professional. The company confirmed that all lenders are in the process of filing their claims, which are currently under verification.