Salem Radio Network News Monday, August 10, 2020


JPMorgan says no notice from Supreme Court on Amrapali real estate case

MUMBAI (Reuters) – The local arm of JPMorgan <JPM.N> said on Thursday that the bank has not received any communication from India’s Supreme Court in a case relating to past transactions between the bank and a New Delhi-based real estate firm.

“J.P. Morgan is not a party to the Supreme Court proceedings, and it has received no communication or notice from the Supreme Court to date,” the bank said in a statement.

“The Supreme Court has made no order directing seizure or attachment of J.P. Morgan assets,” it said.

A local newspaper the daily Business Standard, had reported on Monday citing the news agency PTI, that the court had directed the seizure of local assets of the bank in relation to some transactions between the bank and now-defunct real estate company Amrapali Group.

(Reporting by Promit Mukherjee;Editing by Elaine Hardcastle)


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