Defaults on payment.
Awaiting price reaction for this filing.
Jaiprakash Associates has disclosed continuing defaults on interest and principal payments to its lenders for December 2025, in line with SEBI's disclosure requirements. The company is already under the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated June 3, 2024, with Bhuvan Madan serving as Resolution Professional. Total outstanding borrowings from banks and financial institutions stand at approximately Rs 55,371 crore as of November 5, 2025. Lenders include major public and private sector banks along with NARCL, ACRE, and ARCIL, and all of them are still in the process of filing and verifying claims under IBC. The specific default amounts and dates have been left blank in the disclosure.
This is negative for shareholders — the company remains deep in insolvency with over Rs 55,000 crore in bank debt and no clarity yet on a resolution plan. Equity holders face significant risk of dilution or total loss depending on the outcome of the ongoing CIRP process.