Jaiprakash Associates Limited has informed the Exchange about Delay/default in the payment of fines/penalties/dues etc. to authority-Month ended June 2025
Awaiting price reaction for this filing.
Jaiprakash Associates Limited (JAL) has disclosed continued defaults in interest and principal repayments to its lenders for the month ended June 2025, as required by SEBI's November 2019 circular. The company's total outstanding borrowings from banks and financial institutions stand at approximately ₹55,394.18 crore (provisional) as of 10 June 2025. Lenders include major public and private sector banks (SBI, PNB, Canara Bank, Bank of Baroda, ICICI Bank, Yes Bank, Axis Bank) as well as asset reconstruction companies (NARCL, ACRE, ARCIL). The company has been under the Insolvency and Bankruptcy Code (IBC) since 3 June 2024, with Mr. Bhuvan Madan confirmed as the Resolution Professional by the Committee of Creditors with 87.72% voting share. Lenders are currently in the process of filing and verifying their claims with the resolution professional.
For shareholders, this filing highlights that JAL remains in deep financial distress with a massive debt overhang of over ₹55,000 crore and ongoing IBC resolution. Existing equity holders face significant risk of dilution or near-total loss depending on the resolution plan approved by the Committee of Creditors, and the stock is likely to remain highly volatile and speculative until the resolution process concludes.