Banking Institutions to release Rs 1.5k cr for Amrapali Projects

FPJ Bureau | Updated on: Friday, April 01, 2022, 03:41 PM IST


The agreement has been signed between ASPIRE and Consortium of seven public sector banks on March 29, 2022 for the disbursal of Rs 1500 crore loan for stalled Amrapali projects.

On behalf of ASPIRE R. Venkataramani, Court Receiver/Director ASPIRE has signed the agreement in the presence of DK Mishra and Ravi Bhatia, Director, ASPIRE and NBCC team headed by KPM Swamy, Executive Director (Engg.), NBCC.

On behalf of bank consortium, Malay Panchal, CM Bank of Baroda- Lead bank and other banks representatives signed the agreement. The following 7 public sector banks i.e. Bank of Baroda, Indian Bank, UCO Bank, Panjab National Bank, Bank of India, State Bank of India, Panjab & Sind Bank were seen present during the event. Nearly 40,000 homebuyers awaiting possession of their dream homes will be benefited by this progressive initiative.

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Published on: Friday, April 01, 2022, 03:41 PM IST