Jaiprakash Associates has received an approval for transfer of certain assets and liabilities, including a debt of over Rs 11,834 crore, to its subsidiary Jaypee Infrastructure Development as part of its efforts to cut the overall borrowing of the company. The board of directors at its meeting held on October 7, 2017 has approved for the same.
Jaiparaksh Associates is a diversified infrastructure company and is engaged in segments such as engineering, construction and real estate development, manufacture and marketing of cement, hospitality and sports management.
