Rs 625 crore for unfinished Amrapali projects to be released by next week

NEW DELHI: The Supreme Court was on Thursday 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.

A bench of the apex court, headed by Justice Uday Umesh Lalit, was hearing the petitions filed by many Amrapali real estate homebuyers in Noida and Greater Noida after they failed to get their homes at the right time as promised by the builder.

Housing and Urban Development Corporation (HUDCO) has today 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 today 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.