Real Estate

Real Estate Transactions

Banks release Rs.280-Cr for completion of stalled Amrapali projects; cricketer Dhoni moves SC

Economic Times  

The Supreme Court was informed that a consortium of seven banks have released INR 280 crore to Amrapali Stalled Projects and Investment Reconstruction Establishment (ASPIRE) for completion of the incomplete projects while cricketer M S Dhoni, who was the brand ambassador of real estate group moved the top court seeking direction in the ongoing arbitral proceedings. On April 18, In a relief to over thousands of home buyers of Amrapali Group who have booked their flats under the subvention scheme, the Supreme Court had directed the banks that their accounts shall not be treated as "Non-Performing Assets Accounts" and no penalties shall be charged from them for default of EMI payments.