PSU banks consortium to pump Rs 1,000 cr for Amrapali projects

The Supreme Court has been informed that a consortium of six public sector banks supporting thousands of Amrapali home buyers has agreed to contribute about Rs 1,000 crore to the delayed projects to ensure their speedy completion.

On the occasion of Diwali, 150 apartments developed by the National Buildings Construction Corporation (NBCC) in a delayed project of Amrapali were made available to the home buyers in a small post arranged with the help of the trustee.

A bench of judges Ajay Rastogi and UU Lalit has been informed that court-appointed senior lawyer R Venkataramani has been informed that the consortium of six PSU banks, which cover, among others, UCO Bank, Bank of India and Bank of Baroda, have in principle agreed to provide funds to the tune of about Rs 1,000 crore and paperwork is likely to be done by the end of the month.

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