Amrapali Home Buyers

The Supreme Court has accepted the proposal by SBICAP to provide Rs 625 crore towards the construction of six identified stalled Amrapali” projects from NOIDA and Greater NOIDA Group, covering around 7,000 residential units, and ensure that the unfinished projects are completed at the earliest.

The Supreme Court today (July 10) directed the Enforcement Directorate (ED) to investigate all Amrapali home buyers’ cases which are being probed by economic offences wing and also directed the transfer of all Delhi/Noida Police FIRs to the ED.

The Supreme Court today has directed Banks and financial institutions to restructure the loans given to Amrapali homebuyers and release the rest of the amount which has not been released so far. The amount so released would be used to complete the construction.