New Delhi, Oct. 14 -- The Reserve Bank of India on Tuesday informed the Supreme Court that banks are free to decide on the aspect of financing the Amrapali projects in accordance with their commercial judgements.
A bench comprising Justices U.U. Lalit and Ashok Bhushan directed the RBI to depute a high-ranking officer to coordinate with the court-appointed receiver to conduct a meeting with banks to arrange funding of these projects.
In an affidavit, the RBI has informed the top court that the banks are free decide on financing these projects and it has also written a letter to the Indian Banks Association to consider financing Amrapali projects. The top court also allowed the receiver to independently try and arrange funding for construc...