SC asks IBA, banks concerned to convene meetings to discuss raising funds for Amrapali's unfinished projects

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Representative Image
Representative Image

New Delhi [India], January 4 (ANI): The Supreme Court on Monday asked the Indian Bank Association (IBA) and representatives of other banks, concerned, to convene a meeting with the receiver, lawyer, R Venkatramani, for raising the funding of the unfinished projects of Amrapali real estate in Noida and Greater Noida.

The receiver, Venkatramani, submitted to the bench of the apex court, headed by Justice Uday Umesh Lalit, that the discussions are not proceeding further and the top court should intervene in it.

Bank Of Baroda, Bank of Maharashtra, HDFC Ltd, Axis Bank, SBI, PNB, Indian Overseas Bank (IOB) have assured the top court today that the concerned representatives will look into the matter so that discussions can take concrete shape in the issue.

Lawyer for many homebuyers, ML Lahoty, showed his annoyance before the Supreme Court towards MSTC (Metal and scrap trading company), since it has not been able to auction more than Rs 7 crores of property since their appointment in October 2019.

All the properties would be more than Rs 3,000 crores, Lahoty argued before the Supreme Court today. The Supreme Court fixed the matter for further hearing to January 11, Monday. (ANI)