Jaypee Group's Flagship Firm Defaults On Rs 4,059 Crore Loans: Report
NDTV
In a regulatory filing, Jaiprakash Associates Ltd (JAL) said the company on December 31 defaulted on repayments of principal amount Rs 1,713 crore and interest of Rs 2,346 crore.
Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans of Rs 4,059 crore, comprising both the principal and interest amount, Press Trust of India reported.
In a regulatory filing, Jaiprakash Associates Ltd (JAL) said the company on December 31 defaulted on repayments of principal amount Rs 1,713 crore and interest of Rs 2,346 crore.
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 FCCB (foreign currency convertible bonds).
In September 2018, ICICI Bank filed an insolvency petition against JAL but the matter is still pending before the Allahabad bench of the National Company Law Tribunal (NCLT).
