Jaiprakash Associates lenders approved Rs 936.27 crore cash outflow for the current quarter to keep the company operational during insolvency proceedings. The company is also cooperating with the Enforcement Directorate.
New Delhi, May 25 (PTI) Lenders of Jaiprakash Associates have approved budgeted cash outflow of Rs 936.27 crore for the current quarter to ensure that the company remains as a going concern.
Jaiprakash Associates, which is facing insolvency proceedings, also informed that the Enforcement Directorate initiated searches on May 23 and the company is cooperating with the agency.
According to a regulatory filing on Saturday, Jaiprakash Associates informed that a Committee of Creditors (COC) has approved “the budgeted cash…
