Cash-strapped infrastructure firm Jaiprakash Associates ltd (JAl) today said it has failed to pay a total of Rs 36.25 crore in principal installment and interest for NCDs due April 25.
“The principal installment of Rs 333,333,333 and interest of Rs 29,294,521 that became due for payment on April 25, 2016 in respect of 11.75 per cent Non Convertible Debentures (NCDs), still remains unpaid,” the firm said in a regulatory filing.
This is the second time in around five months that the firm has informed about failing to meet payment commitments.
On March 8, Jaiprakash Associates had informed BSE that the interest, which was payable on the Bonds on the semi-annual interest payment date of March 7, 2016, has not been paid. “The Issuer wishes to inform you that it has not paid such interest. The Issuer intends to engage in discussions with holders of the Bonds to arrive at a solution in respect of the unpaid interest.”