Noida Authority submits claim for Rs 650 crore dues on Amrapali Silicon City

Noida Authority submits claim for Rs 650 crore dues on Amrapali Silicon City
Sep 2017 , by , in Latest News

Noida Authority has submitted its claim for Rs. 650 crore land dues on Amrapali Silicon City project in Noida with the insolvency resolution professional.

NCLT has appointed Rajesh Samson of Deloitte as the insolvency resolution professional in the case. IRP will get 270 days to turn around the company, failing which, the assets of the firm will go for liquidation.

The National Company Law Tribunal (NCLT) had ordered initiation of insolvency proceedings against Amrapali’s Silicon City on a plea by Bank of Baroda. Bank of Baroda had initiated the insolvency process for an outstanding amount of Rs. 56 crore.

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