Jaiprakash Associates Ltd

Jaiprakash Associates Ltd Discloses Loan Defaults Amid Insolvency Process 📉

• Jaiprakash Associates Limited (JAL) disclosed defaults on loan payments for February 2026

• Company is under Corporate Insolvency Resolution Process since June 3, 2024

• Total outstanding borrowings from banks and financial institutions: ₹55,357.39 crores as of February 28, 2026

• Total financial indebtedness (including short-term and long-term debt): ₹55,357.39 crores

• Lenders include NARCL, Axis Bank, SBI, ICICI Bank, and other major financial institutions

• Bhuvan Madan appointed as Resolution Professional for the insolvency process

• Claims from lenders are currently under verification