Jaypee Group defaults on Rs 4,044-crore loans
Unlock Exclusive Insights with The Tribune Premium
Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Advertisement
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.
Advertisement
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).
Advertisement
“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.
Advertisement
Advertisement