Jaiprakash Associates Limited (JAL), listed with BSE Scrip Code 532532 and NSE Symbol JPASSOCIAT, has submitted its monthly disclosure regarding defaults on payments of interest or principal on loans from banks and financial institutions for the month ended May 2025.

In compliance with SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated 21st November 2019, the company has reported that there are no new defaults on its loan obligations during May 2025. This disclosure pertains to all term loans, working capital term loans (WCTL), fund-based term loans (FITL), and other borrowing facilities.

Details of Lenders and Borrowings

The disclosure covers borrowings from a wide spectrum of lenders, including:

• National Asset Reconstruction Company Limited (NARCL)

• Axis Bank Limited

• Bank of Maharashtra

• Canara Bank

• Bank of Baroda

• ICICI Bank Limited

• Indian Overseas Bank

• IDBI Bank Limited

• The Jammu and Kashmir Bank Limited

• DBS Bank India Limited

• Punjab National Bank

• Punjab and Sind Bank

• State Bank of India

• Yes Bank Limited

• Asset Care & Reconstruction Enterprise Limited

• Asset Reconstruction Company (India) Limited

• Union Bank of India (e-Corporation Bank)

• The Bank of New York Mellon

Financial Indebtedness Overview

As of April 24, 2025, the company’s total outstanding borrowings from banks and financial institutions stood at INR 55,407.72 crores on a provisional basis. This figure represents the company's total financial indebtedness, including both short-term and long-term debts.

Insolvency Status and Resolution Process

Jaiprakash Associates Limited remains under the Corporate Insolvency Resolution Process (CIRP) initiated by the order dated June 3, 2024, passed by the Hon’ble National Company Law Tribunal (NCLT), Allahabad Bench. Mr. Bhuvan Madan was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) with an 87.72% voting share during the second CoC meeting held on July 30, 2024.

The ongoing CIRP process entails verification of claims by lenders, including those mentioned above. The company emphasizes that as claims are under verification, the disclosed figures are provisional.

Regulatory Compliance

This disclosure ensures that Jaiprakash Associates complies with Regulation 30 and related provisions of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, promoting transparency and investor awareness regarding the company’s financial health and default status.

Conclusion

Despite the financial challenges leading to insolvency proceedings, Jaiprakash Associates Limited has maintained compliance with its reporting obligations and confirmed no fresh defaults in loan payments for the month ended May 2025. Investors and stakeholders will continue monitoring developments in the CIRP and the company’s financial restructuring progress.

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