JP Associates is top loser

JP Associates is the top loser on the BSE currently, going down almost 10% to Rs.22.90.

The stock has tanked as the RBI has sought the approval of the Supreme Court to being the insolvency proceedings against the company.

Sitting on a debt of around Rs.29,000 crore, the company’s name figures out prominently in the second list of RBI of companies to be taken to the NCLT.

The company was the deposit Rs,2000 crore with the SC registry of which it has till date deposited only Rs.425 crore.