Jaiprakash: Interest remains unpaid for three months on 12% debentures

By Susanna Moon

Chicago, Oct. 27 – Jaiprakash Associates Ltd. said interest due on its 12% debentures has remained unpaid for more than three months as of Oct. 26.

The non-payment is related to Jaiprakash’s “disinvestment initiatives” to deleverage its balance sheet and to “improve its cash flows for timely servicing of its debt obligations,” according to a company notice to the Bombay Stock Exchange.

India-based Jaiprakash is an industrial conglomerate focused on engineering and infrastructure.

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