Investments of thousands of home buyers are stuck due to huge delays by Amrapali group incompletion of projects, forcing them to protest and file legal cases in courts.
Puravankara and Godrej Properties are among at least six companies that have expressed interest in submitting resolution plan for Amrapali Silicon City, a group firm of debt-ridden realty firm Amrapali.
Investments of thousands of home buyers are stuck due to huge delays by Amrapali group in completion of projects, forcing them to protest and file legal cases in courts.
In September, the National Company Law Tribunal (NCLT) had admitted a petition of Bank of Baroda against Amrapali Silicon City over a loan default. An interim resolution professional (IRP) was appointed to carry out the proceedings under the Insolvency and Bankruptcy Code (IBC).
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