Jaypee Group defaults on Rs 4,044-crore loans

New Delhi, July 7

Crisis-hit Jaypee Group’s flagship firm Jaiprakash Associates has defaulted on loans worth Rs 4,044 crore, including principal and interest amount.

In a regulatory filing on Friday, Jaiprakash Associates Ltd (JAL) informed that the company on June 30 defaulted on repayments of a principal amount of Rs 1,660 crore and interest of Rs 2,384 crore.

Regulatory filing

• In a filing, Jaiprakash Associates said the company on June 30 defaulted on repayments of a principal amount of Rs 1,660 crore and interest of Rs 2,384 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).

“The total borrowing (including interest) of the company is Rs 29,477 crore, repayable by 2037, against which only Rs 4,044 crore is overdue as on June 30, 2023,” JAL said.