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The Times of India
The Times of India
Business
PTI

SC directs banks to release Rs 1,500 crore by March 29 for construction of stalled Amrapali projects

Amrapali Bank of Baroda NBCC R Venkataramani New Delhi

NEW DELHI: The Supreme Court on Monday directed the Bank of Baroda-led consortium of seven banks to effectuate disbursal of Rs 1,500 crore by Tuesday for the construction of stalled real estate projects of Amrapali Group.

A bench of Justices UU Lalit and Bela M Trivedi noted that six banks -- Bank of Baroda, State Bank of India, Bank of India, Punjab National Bank, Punjab and Sindh Bank and UCO bank -- have granted in-principle approval for disbursal of funds, while Indian Bank is expected to do so Monday evening.

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