Jaypee Group's Jaiprakash Associates defaults on ₹4,616-cr loans

Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans worth ₹4,616 crore, including principal amount of ₹1,751 crore. The firm's total borrowing amounts to ₹29,805 crore, repayable by 2037, Jaiprakash Associates said. "Post the proposed divestment of cement business and the restructuring under consideration, the borrowing will get almost to nil," it added.