real-estateUpdated: Aug 26, 2020 07:21 ISTThe Supreme Court on Tuesday directed SBI Capital Markets (SBI CAP) to start the funding of six Amrapali projects in Noida and Greater Noida. SBI CAP, as per its offer document submitted to the Court on an earlier occasion, agreed to infuse a sum of ₹995 crore in six commercially viable projects. SBI CAP, represented by senior advocate Harish Salve, informed the apex court that as regards six projects, there was no dispute. The combined project cost is over ₹1,600 crore of which SBI CAP proposes to invest ₹995 crore out of its stress funds. The proposal for funding entails an interest component of 12% which was not agreeable to the Court.

Source: Hindustan Times August 26, 2020 01:52 UTC