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Jaiprakash Associates defaults on Rs 3,961-crore loans on May 31

Dated on: Thursday 8th June 2023

Jaypee Group's prominent company, Jaiprakash Associates, which is currently facing a crisis, has encountered a default situation on loans totaling Rs 3,961 crore, encompassing both the principal amount and accrued interest. As per a regulatory disclosure made by Jaiprakash Associates Ltd (JAL), on May 31, the company failed to fulfill its repayment obligations of Rs 1,600 crore as principal and Rs 2,361 crore as interest. These loans were obtained from various banks and comprised fund-based working capital, non-fund-based working capital, term loans, and FCCB (foreign currency convertible bonds).

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