Jaiprakash Associates Limited has informed the Exchange about Delay/default in the payment of fines/penalties/dues etc. to authority-Month ended May 2025
Awaiting price reaction for this filing.
Jaiprakash Associates has filed its monthly disclosure of defaults on interest and principal payments to banks and financial institutions for May 2025, as required under SEBI's 2019 circular. The company has an outstanding debt of about Rs 55,408 crore owed to a wide group of lenders including NARCL, SBI, PNB, Bank of Baroda, Canara Bank, ICICI Bank, IDBI Bank, Axis Bank, and several others. The disclosure form leaves specific default dates and amounts blank, as the company notes that it is currently under the Insolvency and Bankruptcy Code (IBC) process since the NCLT Allahabad admitted it on 3 June 2024, with Bhuvan Madan serving as the Resolution Professional. Lenders are in the process of filing and verifying their claims with the RP.
This is a routine but grim reminder that JAL remains deeply distressed with over Rs 55,000 crore of debt under IBC resolution, leaving little near-term hope for equity shareholders who typically face severe dilution or wipeout in such cases. The stock is likely to stay volatile and weak until the resolution plan is finalised.