On Thursday, the Supreme Court informed that SBI Capital’s fund of Rs 625 crores will finally be issued by next week to finance six pending projects by the real estate company Amrapali. So, to ensure the delivery of apartments to home buyers.
The Supreme Court Panel, chaired by Judge Uday Umesh Lalit, listened to petitions filed by many Amrapali property buyers in Noida and Greater Noida after failing to receive their home on time, as promised by the developer.
The Housing and Urban Development Corporation (HUDCO) has also today demonstrated its willingness to fund Amrapali projects on specific terms and conditions. The High court asked lawyer M.L. Lahoty, for their opinion on the same by next morning. MR. M.L. Lahoty is a lawyer who has spoken on behalf of many home buyers, and Noida/Greater Noida authorities.
In addition, the High Court today rejected application from the Economic Offences Wing (EOW). EOW has requested to share all initial information reports (FIR) in Uttar Pradesh to the Delhi police in this case. But the court made it clear that other enforcement issues arising, in this case, continue in the court. And the hearing will be carried on tomorrow morning.
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