Banks should not doubt the funding of Amrapali project: Supreme Court


During the hearing of the Amrapali case, the Supreme Court told the banks on Monday that now the court is looking at this project, the entire assets of Amrapali have come to the court receiver, so there should be no doubt in the minds of the banks.

Before the bench of Justice UU Lalit and Justice Ashok Bhushan, the court receiver had told that banks have a dilemma over the funding of Amrapali's project. Amrapali's name was spoiled, so banks are avoiding giving money. On this, the bench said that what happened earlier, today the property of Amrapali is handed over to the court receiver. Court receivers are authorized to take appropriate steps. Banks should decide on merit if the receiver is proposed for funding.

At the same time, lawyer ML Lahoti, appearing on behalf of the home buyers, said that Amrapali's directors owed Rs 912 crore which should be recovered. At this, the bench asked the court receiver to plan and present it with the forensic auditor. During the hearing, the UP Police raised the issue of delay in transferring the trial to the Economic Offenses Wing. To which the court has sought reply from the concerned authority. The next hearing will be on December 1.