Higher floor area ratio will allow National Buildings Construction Corporation to construct more flats in the five projects that have unused land and sell them to pay off Amrapali's pending dues.
Sharma has been booked on murder charges along with 5 others in connection with the 8-year-old murder case of Sharad Chand, former secretary of Bihar-based Balika Vidyapeeth.
The SBICAP, which manages the govt sponsored stress fund for real estate sector, had proposed to provide Rs 625 Crore for construction of these six projects.
Several cases were lodged by home buyers' against the Amrapali Group after the management defaulted in timely delivery of flats and denied the agreed conditions.
The ED found at least seven 'contraventions' under FEMA and wants JP Morgan, a US-based investment banking firm, to be legally directed to remit funds worth about Rs 140 crore.
NBCC, the state-run real estate developer appointed by SC to finish the Amrapali projects, has only Rs 19 crore of the approximately Rs 8,500 crore it believes it needs.
The Supreme Court has cancelled the registration of Amrapali Group and ordered the Enforcement Directorate to charge the builders with fraud and money laundering.
SC verdict says Amrapali Group also entered into “sham” agreements with Amrapali Mahi, a company in which Dhoni’s wife Sakshi is a director. Rhiti Sports dismisses charges.
Cooperation Ministry takes a step towards financial inclusion with Sahkar DigiPay and Sahkar DigiLoan. They will enable faster and seamless access to financial services in small towns.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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