Jaiprakash Associates turns Rs 4,616-cr defaulter
image for illustrative purpose
New Delhi: Crisis-hit Jaypee Group’s flagship firm Jaiprakash Associates has defaulted on loans worth Rs4,616 crore, including principal and interest amount. In a regulatory filing late on Monday, Jaiprakash Associates Ltd (JAL) has informed that the company on April 30, defaulted on repayments of a principal amount of Rs1,751 crore and interest of Rs2,865 crore.
“Total borrowing (including interest) of the company is Rs29,805 crore, repayable by 2037, against which only Rs4,616 crore is overdue as on April 30, 2024,” JAL said.
The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCBs. Out of the total borrowing of Rs29,805 crore, the company said Rs18,955 crore will be transferred to the proposed SPV.
