JP Associates pledges Rs 100 billion debt clearance in 2 years

13 Nov 2023 CW Team

Jaiprakash Associates has expressed its intention to settle a debt amounting to Rs 100 billion within a span of two years. This, however, is contingent on the approval of its debt restructuring proposal by lenders, along with the release of Rs 6 billion from blocked banking limits.

The company's loans have principal repayments scheduled for 2037. Their suggestion is that limits should be freed, and operations permitted to continue, enabling the servicing of the debt.

The debt-laden company, a flagship of the Jaypee group encompassing hotel, real estate, and construction businesses, has received financing from a consortium of 34 banks. Despite the earlier sanctioning of the debt restructuring plan by the banks, its implementation has been stalled, as ICICI Bank and SBI have taken the matter to the National Company Law Tribunal, seeking initiation of insolvency proceedings against the company.

According to an individual mentioned earlier, "The sustainable portion can be repaid within 24 months through on-going asset sales and the company's own earnings."

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..