Amrapali case: UCO Bank creates payment gateway to collect dues from buyers

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Amrapali case: UCO Bank creates payment gateway to collect dues from buyers

The apex court had asked the UCO Bank to collect the amount on behalf of the Amrapali Group.

Amrapali case: UCO Bank creates payment gateway to collect dues from buyers

The UCO Bank has created a payment gateway for collection of outstanding dues from Amrapali homebuyers. The link for the online payment is available on its portal. 

It has opened an escrow account in styled as “Supreme Court Amrapali Buyers Project” for this purpose.

The development has emerged after Supreme Court directed homebuyers to deposit their outstanding remittances under the agreement entered with the Amrapali promoters within three months. 

The apex court had asked the UCO Bank to collect the amount on behalf of the Amrapali Group. 

As per a report, the National Buildings Construction Corporation (NBCC), which has been directed to complete all Amrapali project, will require around Rs 8,500 crore. Out of which, Rs 2,600 crore will come from homebuyers.

On September 11, the top court had made it clear that the homebuyers will have to furnish all required documents while paying their dues.

“All the homebuyers, who have been directed to deposit their respective dues, shall calculate it on the basis of homebuyers’ agreement, such as service tax prevailing at the time of the homebuyers’ agreement,” the SC had directed.

Sources told CitySpidey that the appointed receiver will started issuing notices to the homebuyers as they are yet to pay their dues. However, the homebuyers said that they would wait for the some more clarity on payment issue which is likely to be heard in the court on October 4.