Jaiprakash Associates, part of the crisis-hit Jaypee Group, has defaulted on loans amounting to Rs 4,616 crore, including both principal and interest. The default, disclosed in a regulatory filing, occurred on April 30. The company’s total borrowings stand at Rs 29,805 crore, with only a portion overdue. Jaiprakash Associates is undergoing restructuring, including the proposed divestment of its cement business. Legal battles, including petitions under the Insolvency and Bankruptcy Code, further complicate its financial situation.
Jaiprakash Associates Defaults on Loans Worth Rs 4,616 Crore
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