A bench of justices UU Lalit and Bela M Trivedi gave the nod for the banks, led by Bank of Baroda, to effectuate funding proposals within a day and disburse payments to NBCC by March 31.
NBCC was roped in by the top court in July 2019 to complete the stalled housing projects following the order to cancel the registration of Amrapali under the Real Estate (regulation and development) Act 2016 (Rera) for diverting money received from the homebuyers
A special bench of Justice U U Lalit and Ajay Rastogi observed that the home buyers are under the impression that the court is facilitating construction of their stalled flats and managing funds and they are at a convenience to pay their dues, whenever they like.