The State Bank of India (SBI) and the UCO Bank have agreed to invest Rs 450 crore in Amrapali projects, the Supreme Court was informed on Monday. But other banks, who were part of a consortium, are delaying the process.
A bench headed by Justice U.U. Lalit has been told that six banks have agreed in principle, but things have not moved in the desired direction for nearly two months. Senior advocate and court-appointed receiver R. Venkataramani added that in order to accelerate the process, a little nudge from the top court was needed.
The receiver had told the Supreme Court on September 3 that he had held meetings with the officials of a consortium of six banks – the SBI, UCO Bank, Bank of India, Bank of Baroda, Punjab National Bank, and Punjab & Sindh Bank. While emphasising that the proposal has not been finalised, the receiver informed the top court that except the SBI and UCO Bank, none of the remaining four banks had come out with any concrete proposal on funding the Amrapali projects.
The top court then asked the banks to decide within two weeks and file the proposal before it. It further noted during the hearing that if banks were to further deliberate on the issue, then an officer of MD level should convene a meeting with the receiver to develop a concrete proposal.
The receiver informed the bench, also comprising Justice Ajay Rastogi that 300 flats would be handed over to flat purchasers by the year-end in Greater Noida and they will get possession letters on the eve of Diwali. He further added these are over and above 2,300 flats, which would be handed over to flat purchasers in Noida as committed by NBCC.
The Supreme Court also issued notice to the Uttar Pradesh government seeking clarification on stamp duty being charged from Amrapali flat purchasers at the time of registration.
