The cash-strapped infrastructure firm Jaiprakash Associates has failed to pay interest on non-convertible debentures even after more than three months of the due date. The interest installment in respect of 12.4 per cent non-convertible debentures, remains unpaid for more than three months as on May 4, 2017," the company said in a BSE filing.
The Jaypee group has been selling off its assets to lighten its debt load. Last year, it announced the sale of its cement plants with a total capacity of 21.1 million tons per annum (mtpa) at an enterprise value of Rs 16,189 crore to the Aditya Birla Group firm UltraTech Cement.
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