Quarterly Updates5 Mar 2026, 10:15 am
Jaiprakash Associates Ltd Discloses Defaults on Payment of Interest and Principal Amount for February 2026
AI Summary
Jaiprakash Associates Ltd, under corporate insolvency resolution process, has disclosed defaults on payment of interest and repayment of principal amount on loans from banks, financial institutions, and unlisted debt securities for the month ended February 2026. The total outstanding borrowings from banks/financial institutions are INR 55,357.39 crores as on February 28, 2026, on a provisional basis. The company is under the Insolvency and Bankruptcy Code 2016 (IBC) and all the lenders are in the process of filing their claims and the same are under verification.
Key Highlights
- Jaiprakash Associates Ltd discloses defaults on payment of interest and repayment of principal amount for the month ended February 2026.
- The total outstanding borrowings from banks/financial institutions are INR 55,357.39 crores as on February 28, 2026, on a provisional basis.
- The company is under the Insolvency and Bankruptcy Code 2016 (IBC) and all the lenders are in the process of filing their claims and the same are under verification.
- Mr. Bhuvan Madan has been appointed as the interim resolution professional for JAL.
- The members of CoC have confirmed the appointment of the IRP as Resolution Professional with 87.72% voting share.