Jaiprakash Associates defaults on Rs 46.16 billion loans

Jaiprakash defaults on Rs 46.16 bn loans

Jaiprakash Associates, the flagship firm of the crisis-hit Jaypee Group, has announced a default on loans totalling Rs 46.16 billion, encompassing both principal and interest amounts. The disclosure, made in a regulatory filing, stated that Jaiprakash Associates (JAL) had failed to repay a principal sum of Rs 17.51 billion and interest amounting to Rs 28.65 billion on April 30.

According to JAL, the company's total borrowing, inclusive of interest, stands at Rs 298.05 billion, with a repayment deadline of 2037. However, as of April 30, 2024, only Rs 46.16 billion remains outstanding. <..

Crisis-Hit Jaiprakash Associates Defaults on Rs.4,616 Crore Loans

Jaiprakash Associates, amidst its financial turmoil, has defaulted on loans amounting to ?4,616 crore. This default further exacerbates the challenges faced by the crisis-hit company, adding to its financial woes. The inability to meet loan obligations underscores the depth of the financial crisis gripping Jaiprakash Associates, a prominent player in the Indian infrastructure sector. The default raises concerns among stakeholders, including lenders, investors, and employees, about the company's viability and future prospects. Jaiprakash Associates' ongoing financial struggles highlight broader..

NARCL Bids for Jaiprakash Associates Debt

The National Asset Reconstruction Company Limited (NARCL) has taken significant steps towards alleviating the burden of debt on Jaiprakash Associates, a major player in the Indian infrastructure sector. NARCL, established under the aegis of the Government of India, has made a bid to acquire a substantial portion of the debt owed by Jaiprakash Associates to various banks. This move marks a pivotal moment in the ongoing efforts to address the mounting non-performing assets (NPAs) in the Indian banking system.

Jaiprakash Associates, a conglomerate with interests spanning across constructi..

TVS Motor Unveils Electric Two-Wheeler

TVS Motor Company, a leading two-wheeler manufacturer in India, has unveiled its latest addition to the electric vehicle segment with the launch of the TVS iQube Electric in Bengaluru. This move marks the company's foray into the burgeoning electric vehicle market, aligning with the global shift towards sustainable mobility solutions.

The TVS iQube Electric promises to redefine urban commuting with its advanced technology and eco-friendly features. Boasting a sleek design and compact structure, the electric scooter is tailored to meet the evolving needs of urban commuters, offering a s..

Chinese EV Giant Leapmotor Eyes Indian Market

Chinese electric vehicle (EV) manufacturer Leapmotor is poised to make a significant entry into the Indian market in the third quarter of the 2024-25 fiscal year. With India rapidly transitioning towards electric mobility, Leapmotor's arrival could mark a pivotal moment in the country's automotive industry.

Leapmotor's decision to venture into India underscores the growing appeal of the country as a lucrative market for EV manufacturers worldwide. As one of the world's largest automotive markets, India presents immense opportunities for companies looking to capitalise on the increasing..