Amrapali flats: SBI Capital told to give funds

NEW DELHI: As NBCC faces a cash crunch in completing the construction of Amrapali’s unfinished housing projects, the Supreme Court on Wednesday asked SBI Capital, which manages the Centre’s real estate stress fund, to relax the norms for releasing funds for the projects.

The bench said it is the court which has taken on the task to complete the projects, which precludes any chance of misuse of funds. It said guidelines could be relaxed in Amrapali’s case as the construction work is “court-sponsored” and being monitored by it.