Noida home­buy­ers de­mand fi­nan­cial dis­clo­sure from am­ra­pali builders

Realty Plus - - News -

Home buy­ers group “Noida Ex­ten­sion Flat Own­ers Wel­fare As­so­ci­a­tion” (Ne­fowa) has de­manded a clar­i­fi­ca­tion on the fi­nan­cial con­di­tion of builder group Am­ra­pali as news of their fi­nan­cial in­sta­bil­ity has sent shock waves among the buy­ per the public no­tice by the Cor­po­ra­tion Bank, one of the tow­ers of the builders’ sec­tor 62 build­ing has been at­tached for an auc­tion by the bank on August 18. Com­ment­ing on the no­tice and the de­mands of the buy­ers, Ex­ec­u­tive Di­rec­tor, Am­ra­pali group, Shiv Priya said, “There is a ba­sic er­ror in the auc­tion no­tice. The first right to our prop­erty goes to Noida Author­ity; a bank can’t sud­denly come and put up an auc­tion. We de­cline re­ceipt of any for­mal no­tice, or any move­ment on in­sol­vency. Any kind of fi­nan­cial is­sues get solved over ne­go­ti­a­tions. Our to­tal loan to the banks, in­clud­ing all li­a­bil­ity in the en­tire coun­try is not over 700 Crore. We are com­mit­ted to the com­ple­tion of the 40,000 pend­ing apart­ment’s de­liv­er­able to the buy­ers and we are in the process of do­ing it.”

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