Jaypee Group defaults on Rs 4,460 cr debt of Indian Banks 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 1 day to 269 days" include debt of Rs 2,183.17 crore.

Read more: http://economictimes.indiatimes.com/industry/indl-goods/svs/cement/jaypee-group-defaults-on-rs-4460-cr-debt-payments/articleshow/52573554.cms

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