Disclosure of defaults on payment of interest/repayment of principal amount on loans from banks/financial institutions for the Month ended May 2025.
Awaiting price reaction for this filing.
Jaiprakash Associates has disclosed continued defaults on its loan obligations to banks and financial institutions for May 2025. The company has total outstanding borrowings of approximately INR 55,407.72 crore as of April 24, 2025, owed to a wide group of lenders including SBI, PNB, Canara Bank, Bank of Baroda, ICICI Bank, NARCL, and several others. The company is currently under the corporate insolvency resolution process (IBC) since June 3, 2024, with Mr. Bhuvan Madan appointed as the Resolution Professional. Lenders are in the process of filing and verifying their claims with the resolution professional. The specific default dates and amounts have been left blank as the IBC process is ongoing.
This filing confirms that JAL remains in financial distress with massive debt of over ₹55,000 crore and no clear resolution yet. Shareholders face significant uncertainty, as the IBC process could lead to equity dilution, a change in management, or even liquidation depending on the resolution plan approved by the Committee of Creditors. The stock is likely to remain highly volatile and risky.