Jaypee Group defaults on Rs 4,460 cr loans, payments


Reflecting substantial financial stress, diversified Jaypee Group companies have defaulted on loans and other payments worth Rs 4,460 crore.

The group has on a consolidated basis failed to repay Rs 2,905.6 crore in principal amount to banks and another Rs 1,558.93 crore crore in interest payments.

“Overdue principal repayment of loans borrowings … outstanding on March 31, 2016 wherein the period of delay ranges from one day to 269 days” include debt of Rs 2,183.17 crore on Jaiprakash Associates, Rs 688 crore on Jaiprakash Power Ventures and Rs 33.95 crore on Jaypee Cement, as per latest disclosures.

As far as overdue interest in borrowings is concerned, it includes Rs 837 crore dues on Jaiprakash Associates, Rs 152.18 crore on Jaiprakash Power Ventures and Rs 63.13 crore on Jaypee Cement Corporation, according to figures disclosed by Jaiprakash Associates to the stock exchanges on Friday.

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