Jaiprakash Associates Faces Rs 55,526 Cr Loan Outstanding
Real Estate

Jaiprakash Associates Faces Rs 55,526 Cr Loan Outstanding

Jaiprakash Associates, the flagship company of the troubled Jaypee Group currently undergoing insolvency proceedings, reported a total outstanding loan of Rs 55,525.89 crore as of November 10, 2024. In a regulatory filing, the company disclosed that the "total amount of outstanding borrowings from banks/financial institutions on a provisional basis" stood at this figure as of the specified date.

The company was admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) on June 3, 2024, following an order from the National Company Law Tribunal, Allahabad Bench. Bhuvan Madan has been appointed as the Resolution Professional (RP).

The filing also stated that since the company is under IBC, lenders are in the process of submitting their claims, which are currently being verified.

In recent years, Jaiprakash Associates has been selling off its cement plants in efforts to reduce its debt. However, it is now facing bankruptcy proceedings due to a default on loan repayments.

Apart from cement, Jaiprakash Associates is also involved in construction, hotel, power, and real estate sectors.

Jaiprakash Associates, the flagship company of the troubled Jaypee Group currently undergoing insolvency proceedings, reported a total outstanding loan of Rs 55,525.89 crore as of November 10, 2024. In a regulatory filing, the company disclosed that the total amount of outstanding borrowings from banks/financial institutions on a provisional basis stood at this figure as of the specified date. The company was admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) on June 3, 2024, following an order from the National Company Law Tribunal, Allahabad Bench. Bhuvan Madan has been appointed as the Resolution Professional (RP). The filing also stated that since the company is under IBC, lenders are in the process of submitting their claims, which are currently being verified. In recent years, Jaiprakash Associates has been selling off its cement plants in efforts to reduce its debt. However, it is now facing bankruptcy proceedings due to a default on loan repayments. Apart from cement, Jaiprakash Associates is also involved in construction, hotel, power, and real estate sectors.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement