In future, we will be very conservative in borrowing: Naveen Jindal

Interview with Naveen Jindal, Group Chairman, Jindal Steel & Power

The Jindal Steel and Power (JSPL) group, with a combined loan burden of Rs 46,500 crore, has stayed out of the Reserve Bank’s ‘top defaulters’ list. Naveen Jindal, group chairman, talks to Dillip Satapathy on the subject and his plans to cut these liabilities. Edited excerpts:

Your company has been financially stressed for some years because of a high debt burden. 

We never faced these problems earlier. But, after the coal block cancellations (part of the general order issued by the Supreme Court), we were made to pay an additional levy of Rs 3,500 crore. Contrary to the Comptroller and