Rs 625 Crore for Unfinished Amrapali Projects to Be Released

The Supreme Court was informed that SBI Capital fund of Rs 625 crores is finally going to be released by the next week to finance the six unfinished projects of Amrapali real estate company

BY Realty Plus
Published - Monday, 08 Mar, 2021

Rs 625 Crore for Unfinished Amrapali Projects to Be Released

The Supreme Court was informed that SBI Capital fund of Rs 625 crores is finally going to be released by the next week to finance the six unfinished projects of Amrapali real estate company to ensure delivery of flats to the homebuyers. Housing and Urban Development Corporation (HUDCO) has also shown its inclination to finance Amrapali projects with certain conditions and to this, the top court had asked lawyer, M L Lahoty, advocate appearing for many homebuyers, and Noida/Greater Noida authorities for their response on the same by tomorrow morning. Apart from this, the apex court rejected the applications of the Economic Offences Wing (EOW) to transfer all first information reports (FIR) in Uttar Pradesh to Delhi police in the case and made it clear that the other recovery issues going on in this court, and the hearing will be continued tomorrow morning.