Jaiprakash Associates Limited has disclosed that its total outstanding borrowings from banks and financial institutions stand at ₹55,357.39 crore as of 28 February 2026. The company shared this information in a disclosure submitted to stock exchanges.
The disclosure was made on 3 March 2026 in compliance with a circular issued by Securities and Exchange Board of India (SEBI). The company informed both BSE Limited and National Stock Exchange of India about the details of its borrowings and financial obligations.
Company Under Insolvency Process
Jaiprakash Associates is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The process began after an order passed by the National Company Law Tribunal (NCLT), Allahabad Bench on 3 June 2024.
Following the order, Bhuvan Madan was appointed as the Interim Resolution Professional (IRP). Later, during the second meeting of the Committee of Creditors held on 30 July 2024, creditors confirmed his appointment as the Resolution Professional (RP) with 87.72% voting share.
Loans Taken from Multiple Banks
The company has taken loans from several banks and financial institutions. These include:
- National Asset Reconstruction Company Limited (NARCL)
- Axis Bank
- Bank of Maharashtra
- Canara Bank
- Bank of Baroda
- ICICI Bank
- Indian Overseas Bank
- IDBI Bank
- Jammu & Kashmir Bank
- DBS Bank India
- Punjab National Bank
- Punjab & Sind Bank
- State Bank of India
- Yes Bank
- Asset Care & Reconstruction Enterprise (ACRE)
- Asset Reconstruction Company (India) Limited (ARCIL)
- Union Bank of India (including former Corporation Bank)
- Bank of New York Mellon
These borrowings include different types of loans such as Term Loans, Working Capital Term Loans (WCTL), and Funded Interest Term Loans (FITL).
Claims by Lenders Under Verification
The company said that since it is under the IBC insolvency process, lenders are currently filing their claims. These claims are still under verification as part of the resolution process.
According to the disclosure, the total financial indebtedness of the company, including short-term and long-term debt, is also ₹55,357.39 crore on a provisional basis as of February 2026.
