SC reserves order on funding for Amrapali projects

NEWDELHI: The Supreme Court has reserved orders on the crucial aspect of mobilising funds for completing the stalled housing projects of the Amrapali Group. The work on these projects had hit a wall for lack of funds. This was pointed out to the Court in a note by the Receiver, who proposed a slew of suggestions to be undertaken by the Centre, the Noida and Greater Noida Authorities, and the RBI to resume work with immediate effect. The Ministry of Finance told the Court that the Government had empowered SBI Capital Markets for any seed capital funding of the Amrapali projects.