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JP Associates Lenders Attempt Resolution Plan Outside IBC: BQ Exclusive
Lenders to JP Associates look to avoid insolvency route once again.
08 Jul 2020, 10:30 AM IST
Lenders to debt-laden Jaiprakash Associates Ltd. are working on a resolution plan for the company, which would save them a trip to the insolvency courts.According to three people in the know, the consortium of lenders, led by ICICI Bank Ltd., is seeking to resolve the company’s debt under the June 2019 stressed asset framework of the Reserve Bank of India. The plan involves bringing in a global distressed fund to provide a mix of deb...
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