#RealtyNewsRoundUp: SC Sends 3 Amrapali Directors To Police Custody
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The Supreme Court on October 9 sent three directors of the Amrapali Group, Anil Kumar Sharma, Shiv Priya and Ajay Kumar, to police custody, directing them to hand over all the documents of the 46 group companies to forensic auditors. The court said the conduct of the directors was in "gross violation" of its order.
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The Supreme Court on October 7 asked the Reserve Bank of India (RBI) to respond to a petition within six weeks that says banks and financial institutions are not passing on the benefits of changes in monetary policy, especially old borrowers. The public interest litigation, filed by non-government organisation Money Life Foundation, urged the RBI to take action against the “unfair practices” used by banks. The petitioners also said the RBI has enough powers under various laws to make banks comply with its directive.
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The Uttar Pradesh government has approved the Social Impact Assessment (SIA) report for the international airport in Jewar. The government would soon transfer Rs 1,500 crore in the account of district magistrate of Gautam Budh Nagar for compensation to farmers whose land is being acquired for the project.
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In a move that would help end the liquidity crunch in the sector, the National Housing Bank (NBH) has increased the limit to refinance eligible housing finance institutions to Rs 30,000 crore for the financial year 2018-19. The NBH had earlier set Rs 24,000 crore as the limit.
Source: Media reports
