Jaiprakash associates continues defaults amidst insolvency process

Jaiprakash Associates Limited (JAL) has reported continued defaults on interest and principal payments for loans from banks and financial institutions for the month and quarter ended September 2025. The disclosure, made on October 7, 2025, is in compliance with SEBI regulations.

The company's total outstanding borrowings from banks and financial institutions as of September 25, 2025, amount to INR 55,371.21 Crores on a provisional basis. This figure also represents the total financial indebtedness of the listed entity, including short-term and long-term debt. JAL has listed numerous lenders, including National Asset Reconstruction Company Limited, Axis Bank, Bank of Maharashtra, Canara Bank, and ICICI Bank.

JAL was admitted into a corporate insolvency resolution process on June 3, 2024, by the National Company Law Tribunal. Mr. Bhuvan Madan has been appointed as the resolution professional, with lenders currently filing and verifying their claims.