Jaiprakash Associates defaults on 40590 million loans

10 Jan 2023 CW Team

The flagship company of the Jaypee Group, Jaiprakash Associates, has defaulted on loans totalling Rs 4,059 crore, including both the principal and interest.

Jaiprakash Associates Ltd (JAL) claimed in a regulatory filing that the business missed payments of 17,130 million in principal and 23,460 million in interest on December 31.

The loans were made to several banks, and the types of obligations included term loans, fund-based working capital, and FCCB (foreign currency convertible bonds).

JAL was the subject of an insolvency petition filed by ICICI Bank in September 2018, but the National Company Law Tribunal's Allahabad bench is still considering the case (NCLT).

SBI, the largest lender in the nation, filed an NCLT motion against JAL in September of this year, alleging a total default of 68,931.5 million as of September 15, 2022.

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..