Jaypee Group's flagship firm Jaiprakash Associates has defaulted on loans of ₹4,161 crore, due on March 31, the company said it an exchange filing. It said it has total borrowings of ₹29,396 crore, due for repayment by 2037. "Post the proposed divestment of cement business and the restructuring under consideration, borrowing will get almost to nil," it stated.