Jaiprakash Associates lenders make fresh attempts to restructure loan

Lenders to Jaiprakash Associates (JAL) are mulling restructuring of loans to Jaiprakash Associates, the erstwhile promoters of Jaypee Infratech.

According to a report in Times of India, the lenders will convene a meeting to decide on restructuring of loans. The plan, if approved, will need a clearance from the RBI.

The RBI had recommended Jaiprakash Associates for insolvency resolution in its second list of companies that was sent to lenders in 2017.

Jaypee Infratech went into insolvency proceedings in August 2017.

State-owned NBCC and Mumbai-based Suraksha Group are the front runners for taking over Jaypee Infratech.