Default Disclosure on payments
Awaiting price reaction for this filing.
Jaiprakash Associates has disclosed defaults on interest and principal repayments on its loans from banks and financial institutions for the month of November 2025. The company is currently under the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated June 3, 2024, with Mr. Bhuvan Madan confirmed as Resolution Professional with 87.72% CoC voting share. Total outstanding borrowings from banks and financial institutions stand at approximately INR 55,371.21 crore as of November 5, 2025. Lenders involved include major banks like SBI, PNB, ICICI Bank, Axis Bank, Canara Bank, Bank of Baroda, and bad banks NARCL, ACRE, and ARCIL, among others. All lenders are in the process of filing and verifying their claims as part of the IBC proceedings. Specific default dates and amounts were left blank in the disclosure.
This disclosure reflects ongoing insolvency proceedings rather than a new event — the stock is likely already reflecting severe distress. Shareholders face significant uncertainty over recovery, which depends entirely on the outcome of the resolution plan under IBC.