Brief: Jaiprakash Associates Denies That Jaypee Infratech's Land Was Mortgaged To Get Loans For Co

Jaiprakash Associates

21/05/2018 12:55

May 21 (Reuters) - Jaiprakash Associates Ltd  JAIA.NS :
    * JAIPRAKASH ASSOCIATES - MORTGAGE OF LAND OF UNIT JAYPEE
INFRATECH WAS PROVIDED ONLY AS COLLATERAL AT INSTANCE, IN FAVOUR
OF LENDERS OF CO SINCE 2009
    * JAIPRAKASH ASSOCIATES - LOANS OF JAL WERE FULLY SECURED BY
ITS
OWN ASSETS
    * JAIPRAKASH ASSOCIATES - VEHEMENTLY DENY THAT JIL'S LAND
WAS
MORTGAGED TO GET LOANS FOR JAL
    * JAIPRAKASH ASSOCIATES - MORTGAGES WERE APPROVED BY BOARD
OF JIL
COMPRISING NOMINEE OF LENDERS; NO LENDER OBJECTED TO CREATION OF
MORTGAGES TILL DATE

Source text for Eikon:  ID:nBSE8kwMVD 
Further company coverage:  JAIA.NS 

 ((Reuters.Briefs@thomsonreuters.com;))