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Release stalled loans to Amrapali Group homebuyers: SC tells banks

The top court's order came on an application filed by court receiver senior advocate R Venkataramani, who has been appointed as a custodian of properties of Amrapali Group

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The top court said that since the projects of now- defunct Amrapali Group have been stalled for last several years

Press Trust of India
Coming to the rescue of thousands of hassled home buyers of Amrapali who saw loans being stalled by banks after the realty group ran into trouble, the Supreme Court Wednesday directed all financial institutions to disburse their balance funds and restructure the amounts.

The top court said that since the projects of now- defunct Amrapali Group have been stalled for last several years, the home buyers who obtained loans from banks and financial institutions could not enjoy the fruits of their investment.

A bench of Justices Arun Mishra and U U Lalit said, At the same time, if projects are

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