Lenders approve Rs 16,189 cr Jaypee-UltraTech deal: Sources

Lenders have approved the Rs 16,189-crore Jaiprakash Associates- UltraTech deal which had been stuck for some time now due to valuation conflicts, reports CNBC-TV18.

Sources say although the deal has been given the go-ahead, lenders led by ICICI Bank have not yet ruled out invoking strategic debt restructuring (SDR) for the Rs 30,000-crore debt on JP’s books.

JP Group has been asked to look for buyers for its engineering procurement construction (EPC), hospitality and real estate businesses.Watch video for more...