Centre to consider using “Stress Funds” for construction of Amrapali flats — SC asks Centre

As reported by Times of India, NBCC has refused to invest money for the construction of the Amrapali Housing Projects for which now the Supreme Court has asked Centre to consider using the “Stress Funds”.

The task of constructing the buildings has been given to NBCC but the work has not yet started due to lack of funds.

The Division Bench of Arun Mishra and UU Lalit, JJ. directed the homebuyers to deposit their dues in the apex court by the end of January and granted a last chance to some entities, including Amrapali Group directors, to deposit the money they creamed off by diverting homebuyers’ money. It made it clear that the beneficiaries would be sent to jail like the CMD of the group in case they failed to comply with the order.

The bench asked additional solicitor general Vikramjit Banerjee to seek instructions from the government on how much funds could be released for the construction of Amrapali projects.

[Source: Times of India]

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