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ā¢ Jaiprakash Associates has proposed a debt restructuring plan to clear its debt of ā¹10,000 crore in two years, provided lenders approve and release ā¹600 crore in blocked banking limits.
ā¢ A consortium of 34 banks has provided financing to the debt-laden company, but the debt restructuring plan has not yet been implemented due to insolvency proceedings initiated by ICICI Bank and SBI.
ā¢ The company believes it can repay the sustainable portion of its debt within 24 months through asset sales and its own earnings.