New Delhi: SBICAP Ventures Ltd has signed MoU with the Court Receiver for funding Rs 650 crore in six projects of erstwhile Amrapali Group at Noida and Greater Noida. The MoU has been signed in presence of NBCC's Executive Director (Engg.) KPM Swamy. According to the MoU, dreams of around 6,947 home buyers will be get realized soon.
It is a matter of achievement for all the home buyers of projects - Silicon City-1, Silicon City-2, Crystal Homes, Centurian Park- Low Rise, O2 Valley & Tropical Garden as their long-awaited funding proposal has been successfully signed. The execution works on the said projects were hampered due to the slow inflow of funds and disruptions caused by the COVID-19 Pandemic. However, funding from SBICAP Ventures Ltd., NBCC shall expedite the progress of the works and will aim to complete the projects within the scheduled time.
The initiative got cemented under the able guidance and directions of the Supreme Court of India and the court receiver R Venkataramani, Committee members - Ravi Bhatia (Forensic Auditor), DK Mishra (Charted Accountant), and Pavan Agarwal (Forensic Auditor appointed by the Court) as well as the team of NBCC under the leadership of NBCC CMD PK Gupta.
(PSU Watch- India's Business News center that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)