Dislosure
Awaiting price reaction for this filing.
Jaiprakash Associates Limited has disclosed loan defaults and financial indebtedness of INR 55,357.39 crores as of March 31, 2026. The company is under Corporate Insolvency Resolution Process (CIRP) initiated by NCLT Allahabad Bench on June 3, 2024. Critically, the Hon'ble NCLT on March 17, 2026 approved the resolution plan submitted by Adani Enterprises Limited under Section 31 of the Insolvency and Bankruptcy Code, 2016. Bhuvan Madan serves as the Resolution Professional. The disclosure follows SEBI circular requirements for listing exchanges regarding loan default reporting.
The approved resolution plan by NCLT indicates the company is in advanced stages of debt resolution under IBC. Shareholders should note that the Adani Enterprises resolution plan approval marks a significant milestone toward completing the CIRP process, though implementation details and impact on equity holders remain to be seen.