Jaiprakash Associates Limited announced defaults on payment of interest/repayment of principal amount on loans from banks/financial institutions in specified format. The total borrowing (including interest) of the Company is INR 293,610 million, repayable by 2037, against which only INR 41,510 million is overdue as on August 31, 2023. Out of the said borrowing of INR 293,610 million, INR 185,020 million will get further reduced on transfer to the proposed Special Purpose Vehicle (SPV) for which the Scheme of Arrangement duly approved by all the stakeholders, is pending sanction of NCLT.

The entire loan is in any case under restructuring As a responsible borrower, the Company has been taking tangible steps to reduce the borrowings. Post the proposed divestment of Cement Business and the restructuring under consideration, the borrowing will get almost to Nil upon implementation of revised restructuring plan.