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.
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