Amrapali bidders: SC suspects cartelisation

Taking strong exception to two prime properties, including a five-star hotel of the embattled Amrapali Group finding no bidders, the Supreme Court on Monday said that prima facie it looks like “cartelisation is at work” and sought to know whether “banks are part of cartels”.

The top court said that it is “shocking and disturbing” that bankers are not coming forward to finance the properties. The court said that banks are ready to finance projects for NBCC but they are not coming forward to finance the Amrapali properties being sold by Debt Recovery Tribunal in an auction.

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