Disclosure of defaults on payment of interest
Awaiting price reaction for this filing.
Jaiprakash Associates Ltd has filed its monthly disclosure of defaults on interest and principal repayments on loans from banks and financial institutions, as required by SEBI's November 2019 circular, for the month ended February 2026. The company's total outstanding borrowings from banks and financial institutions stand at approximately INR 55,357.39 crore (about ₹553 billion) as on February 28, 2026. The company is currently under the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated June 3, 2024, with Bhuvan Madan as the Resolution Professional. A large group of lenders including NARCL, SBI, PNB, Bank of Baroda, Canara Bank, ICICI Bank, IDBI Bank, Yes Bank, Axis Bank, DBS Bank India, Bank of New York Mellon, and several ARCs are involved, with claims still being filed and verified under the IBC process.
This is a routine regulatory disclosure required because the company is already in default and under insolvency proceedings; it is not new negative news but reflects the ongoing stressed status of Jaiprakash Associates. For shareholders, the stock remains highly risky as the company's fate depends on the outcome of the IBC resolution process, and equity could face significant dilution or wipeout depending on the resolution plan approved by lenders.